Influencer marketing is one of the most fmaous marketing approaches in the world today. It is a relatively recent phenomenon that began with celebrities being surreptitiously paid to sell products on Instagram. In recent years, the practice of being an influencer has become mainstream. Companies are lining up to sign contracts with the newest and most exciting influencers. This approach to marketing is by no means perfect, however. There are three important factors to influencer marketing that every company needs to be familiar with in order to get started.
Expensive
According to behrmanpr, influencer marketing is one of the most expensive forms of marketing on the market today. Influencers know that they are in high demand and that they have captured a difficult-to-understand portion of the market. Therefore, they will charge high prices for their services and will expect prompt payment. Nancy at Behrman notes that some influencers will even request upfront payments before they have started working on a particular project.
There is the possibility that one of these relationships could cost a company money for several years. According to Behrman Communications, influencer marketing can be more costly than many other forms of marketing. It also may be costly if it is not tailored to the right audience. A company may spend thousands of dollars appealing to a market popular with influencers that only has a small group of individuals who will ever be interested in that company’s product.
Fickle talent
Influencer marketing often works with a small group of talented individuals who are difficult to manage and govern. They have often gained their positions through their independence and unwillingness to conform to social standards. This mindset will most likely translate to how they will approach being an influencer. Many influencers are frequently in trouble of one kind or another. They say offensive things and fail to meet all of their marketing obligations. In many instances, they have a considerable amount of power over the nature and future of a company’s brand. Companies have to be careful before they turn their brand over to an individual who is only famous for their Instagram photographs.
Fleeting nature of fame
Influencer marketing is predicated on taking advantage of individuals who are famous at a particular point in time. The company leverages that fame in order to attract new customers and sell products. But many companies pay a considerable amount for famous influencers because it is incredibly difficult for one to predict how fame works. It is possible for individuals to simply stop being famous. They may have gained their fame with a particular action that has gone out of style. An individual may take an unpopular position or have a quote that dooms their careers.
Conclusion
Any company looking at hiring an influencer should first contact a consultant. They should discuss their business goals and their plans for eventual success. The consultant will help a company determine what influencer would work best and whether one is even needed. An influencer is a massive commitment for a company’s time, money, and brand. Companies need to be careful and diligent before they make such a commitment.
