In this digital landscape, Influencer Marketing has gained immense popularity as it is a highly profitable marketing strategy that countless brands use to boost their brand visibility, conversions & engagements. It is considered the most sought-after forms of marketing as one can easily drive desired results in a short span of time.
Around 71% of marketers prefer using influencer marketing as it helps them to reach out to a wider audience & increase conversions. However, to reap all the benefits of influencer marketing, it is highly crucial to for brands to do it in the right way otherwise, it can irrevocably damage the brand. In 2020, almost everyone actively uses social media which makes it ideal for the brands to work with influencers to market the product. Influencer marketing is no longer just a buzzword as it is now, being used by almost every brand to win new customers & to boost their brand’s authority.
Every marketing tactic comes with some benefits & drawbacks so before jumping into the bandwagon of influencer marketing, you need to analyze all its pros & cons to understand whether it will be beneficial for you or not.
Are you sceptical about Influencer marketing? Well, don’t worry, we’ll be discussing all its pros & cons so that you can easily decide whether or not, it will be beneficial for you.
What is Influencer Marketing?
Influencer marketing is a type of social media marketing where a niche content creator partnered with the brands to promote their products. These content creators already have a good number of the following on their channel which allows them to talk about the product to their vast network of followers. Such content creators/influencers are ideal for the brands to put their message across the target audience.
Here’re a few pros & cons of influencer marketing:
Helps in broadening brand’s reach
The first benefit of using influencer marketing is that it helps in broadening the brand’s reach. By partnering with an influencer with thousands or millions of followers, you can easily reach out & put your message across their followers. People love to follow influencers on their social network & most of them use products that are recommended by them so, it can surely help you in expanding your customer base & boosting your conversions.
Around 45% of women purchases a product recommended by their favourite influencer. So, if you want to market your products then you can use this marketing tactic & connect with an influencer relevant to your niche. Influencers can really add value to your brand by influencing people to buy your products. By putting your word out through influencers, you can easily broaden your brand’s reach.
Helps in instilling trust in people
The next benefit of influencer marketing is that it helps in instilling trust in people. The people who follow influencers highly value & trust their recommendations. So, when you ask an influencer to endorse your brand then you can stay assured that their followers will act upon the recommendation. Most new brands rely on influencer marketing to boost the credibility of their brand as people don’t try any new brand on their own but if their favourite influence recommends it then it instils trust in them. Make sure that the influencer doesn’t make the content too salesy or fabricated otherwise, it will not help in instilling trust in people.
Comparatively less expensive
The benefit of doing influencer marketing is that it is quite less expensive than other forms of marketing. Collaborating with micro-influencers doesn’t require a high budget. Influencer marketing doesn’t always imply partnering with a big celebrity as micro-influencers also have a good number of followers who swear by their recommendations. Working with relevant micro-influencers can help you achieve your marketing goals without breaking your bank.
It impacts customer’s buying decision
By incorporating the influencer marketing strategy, you can easily impact your target audience’s buying decision as most people prefer to hear other people’s opinion before investing their money on any product so when you make an influencer review your product for you then it helps in impacting the customers’ buying decision.
So, these are a few benefits that you can reap by doing influencer marketing.
Collaborating with wrong influencers can drain your resources
One of the major problems that brands face is that they couldn’t figure out if they are collaborating with the right influencer or not. Collaborating with wrong influencers can result in draining all your resources & can potentially damage your brand’s reputation. While choosing an influence, you need to ensure that he/she is authentic and the followers are also genuine.
The next issue with influencer marketing is that it involves high risk. If the influencer couldn’t build a connection through his post then it won’t be able to convert and all your efforts and money will go in vain. To avoid this issue always go for a relevant influencer who can offer value to your brand by marketing it effectively.
The next problem with influencer marketing is that if the influencer you have collaborated with has a bad image in the digital landscape then it can directly impact your brand so, it is highly essential to ensure that the check the history of the influencer before working with him.
So, these are a few cons that are associated with influencer marketing. Make sure to consider both pros & cons of this marketing tactic before approaching an influencer regarding your brand. Doing influencer marketing in the right way can take your brand to the next level, however, any small mistake can also tarnish all your hard work so, make sure to analyze every aspect of it.
Wrapping it up, we can say that, Influencer marketing is an effective way of boosting your brand’s visibility & conversions. Make sure to counterfeit its limitations & make the most out of its benefits.