Experts weigh pros and cons of Influencer campaigns
By Abimbola Mohammed
As influencer marketing/campaigns becomes a well-known marketing strategy that many brands leverage to reach out to their customers and engage them, more and more brands seek ways to incorporate influencers into their marketing strategy. However, influencer marketing also comes with some challenges that often pose concerns for advertisers based on the measurability of its Return on Investment (ROI).
According to a report by influencermarketinghub.com, the influencer marketing industry was worth $13.8 billion in 2021 and became a $16.4 billion market in 2022. The report added that there has already been a substantial growth in influencer marketing ad spend from 2018, when it was somewhere between $3.2-$6.3 billion.
Speaking with MARKETING EDGE Publication in an exclusive interview on some of the challenges of influencer marketing, Okenyi Nnamdi, Senior Manager, Brands Optimal Limited, noted that data and insight remain one of the challenges of influencer campaigns.
“Data and insights can be a challenge for influencer campaigns, as it can be difficult to track and measure the effectiveness of the campaign. Unlike traditional forms of advertising such as television or print ads, it can be difficult to track the direct impact of an influencer campaign on sales or conversions. Additionally, with the rise of fake followers and engagement on social media, it can be difficult to validate the reach and engagement of an influencer’s audience.”
Mr. Nnamdi added that data can be influenced by many factors, such as the influencer’s audience, the type of content, the platform, the timing, etc. This, he noted, can make it difficult to compare data from different campaigns and make accurate predictions about the campaign’s future performance.
“Measuring the ROI of influencer campaigns can also be difficult, since there is not always a clear way to track the direct impact of an influencer’s promotion on sales or conversions. Some brands may use metrics such as reach, engagement and click-through rates to measure the success of a campaign, but these metrics alone may not provide a complete picture of the campaign’s effectiveness,” he said.
On his part, Sherif Lanre Akinpelu, Deputy Director, Strategy & Planning, SPV Communication Solutions, noted that as much as there are disadvantages of influencer campaigns, their benefits still get the job done.
“One of the benefits of influencer marketing or campaigns is the fact that we humans are social animals, and endorsement is one of the things that we believe in so much. So when we love a celebrity, influencer or a professional, and they endorse a product, we tend to believe them. For instance, if a brand wants to sell toothpaste and uses a dentist, people will say because the person is a professional, so he/she can’t tell lies about the product. There is a belief that when one celebrity is using a product, an individual that wants to be like the celebrity will begin to use the same product the celebrity uses,” Mr. Akinpkelu said.
He added that, because influencers already have many followers, they don’t have to run after people, which makes it easier for brands to use their platforms while agencies plug into those communities.
“I am not talking about people with 50k likes and 50 comments; I mean people with 50k likes and 10k comments. That means that it is not bots that are following them as real humans.”
On how the challenges bots can be curbed, Mr. Akinpelu noted that advertisers and agencies should work in synergy to achieve their targets.
“One of the major challenges of influencer marketing is striking a balance among the agency, the brand manager or brand custodians, and the influencers themselves. The first one is that the brand custodian should trust the agency to recommend an influencer that aligns with their brands, so that it is not a case of personal relationship between an influencer and the custodian. Because I have seen several cases where there is no alignment between an influencer and the brand they are influencing for,” he added.
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