Micro-influencers will show their worth
Mega-influencers are useful for getting simple product messages to spread far and wide, however micro-influencers are best for influencing purchase criteria. Brands need to remember that the top 1% of influencers may have 10,000 followers but won’t engage or convert followers into customers. However, micro-influencers who charge less can generate the brand a better ROI as they have a more active and organic relationship with their followers. Micro-influencers have also been seen to drive 60% higher campaign engagement rates - research by Experticity found that 82% of purchasers take recommendations from their favourite micro-influencers.
Invest in relationships
Influencer marketing aims to build an experience and emotional connection between a brand and its target audiences. Strengthening relationships with the influencers you work with will see influencers’ content become more personal and authentic, therefore increasing trust with followers and sequentially influencing peer buying habits. The brands that see success with influencer marketing are going to be the ones that build long-term relationships with influencers rather than engaging on an as-and-when basis just to deliver one-off campaigns.
Demand more Stories
For 2018, Hootsuite has predicted that digital will overtake traditional TV advertising spend with more brands investing in influencer Instagram Stories as a way of showcasing products. By keeping this content un-scripted brands will also be seen as more authentic and genuine. This quick and easy way to get a message across will give your audience a behind-the scenes view of your product, as well as placing the brand in the palm of the consumer hand.
Go beyond Instagram
While Instagram is likely to remain the dominant social platform, brands shouldn’t ignore other channels. Influencers base their pricing on the follower count, engagement and demand, therefore if the majority of offers are to promote brands on Instagram, those influencers with large numbers of followers will drive their price up. However, they may have fewer followers on other sites such as Facebook, Snapchat and Pinterest which in turn could mean the demand for advertising on these platforms will be lower. While you may not reach the same number of people, you could generate a better ROI from lower costs.