The real value of an influencer is the authenticity and reliability of their endorsements. They know what they speak and share from their real world experience.
It is safe to say however – that when it comes to influencer marketing – the scope of influence and engagement has been shrinking. The glut of influencer and AI-generated content has followers scratching their heads and wanting to understand what is true and believable.
Followers have become more selective about who they follow, with average engagement ratios falling across the social platforms. In 2023, TikTok had the highest engagement rate of all the social platforms at 4.24% . Followed by Instagram at .60% which is a pretty impactful drop from a previous average engagement of over 1.22%. Facebook recorded an average engagement rate of 0.15% and Twitter of .05%. [Source:Social Insider Blog https://www.socialinsider.io/blog/social-media-industry-benchmarks/#engagementinsights]
Sadly, we now see fewer posts from friends we trust while our social feeds are dominated by paid influencers and brand buys. Web users want a cozier and safer web with more intimate conversations. With AI-generated content becoming more prevalent, consumers are sharpening their critical faculties. Rather than posting their content, friends are increasingly trending toward the messaging function of social media apps to share private communications and content.
Influencer marketing can be an effective strategy for short-term brand promotions, especially for such highly visual products as fashion, travel, food, and beauty. However it can come with risks and challenges,reflected in weak response rates stemming from poor digital management, a weak communications strategy, a glut of content, and general apathy by the social platform users.
Five key factors to remember when choosing an influencer for your brand:
Authenticity and Trust Issues
- Followers expect authenticity and trustworthiness from their influencers. Authenticity and trust issues arise when an influencer promotes a product or service without a genuine or grounded experience with the brand, meaning the influencer and the brand are not aligned on values. Non-alignment of values can damage both the influencer’s credibility and the brand’s reputation. Check out https://www.kubbco.com/blog/epic-influencer-marketing-fails-of-all-time
Fake Followers and Engagement
- Some influencers may resort to purchasing fake followers or engagement in order to appear more influential than they actually are. Brands that collaborate with influencers using inflated vanity metrics may end up investing in a campaign that doesn’t reach a genuine audience, leading to a poor return on investment.
Misalignment with Brand Values
- Followers expect Influencers to provide unbiased information and not scripted material. When an influencer misrepresents their association with a brand, or when their behavior conflicts with a brand’s image, it can harm that brand’s reputation and alienate customers.
Legal and Compliance Risks
- It is crucial for brands to ensure that influencers are aware of and compliant with relevant laws, regulations and industry guidelines. Failing to disclose sponsored content appropriately, engaging in misleading advertising practices, or infringing on copyright can lead to legal consequences for both the influencer and the brand.
Fluctuating Trends and Popularity
- An influencer’s popularity can be transient and trends can change rapidly. Relying solely on an influencer without considering the potential lifespan of their influence may result in a short-lived impact for the brand. As well, sudden changes in an influencer’s personal life or reputation can negatively affect the brand associated with them.
When formulating their marketing strategy, it is vital for managers to choose the right influencer and influencer analytics tool. To get started, you’ll need a decisive Digital Marketing Manager.
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