If you’ve ever worked in the influencer marketing business, you’ve probably come across some of these popular misconceptions.
But where do these myths originate, and is there any validity to them? Let us investigate.
Myth #1: Influencer marketing is costly.
One of the main reasons brands are hesitant to partner with influencers is cost.
As you would expect, partnering with a Mega Macro influencer (with more than 1 million followers) can be costly.
Micro influencers (those with less than 100,000 followers) usually charge less, with most charging between $500 and $2000 for an Instagram message.
Prices can also differ depending on how you want to deal with them and if they came over Instagram verification.
Will it be a one-time post for a particular campaign, or will you work with them on a long-term basis?
Working with influencers on a regular basis will help to increase brand recognition and create confidence with their target audience.
Since the influencer marketing industry is still in its early stages, there is no such thing as one-size-fits-all pricing for influencers.
However, before working with influencers, use your budget to determine how many you will work with and for how long — paying them equally for their work is critical for a long-term partnership. Even the smallest influencers put in the time and effort to create visually appealing material.
Myth #2: Nano and micro-influencers are ineffective.
Nano influencers (those with less than 10,000 followers) have higher engagement rates than top-tier influencers.
According to the Later x Fohr Influencer Marketing Study, Nano influencers have the highest average interaction rate of 4% across all feed and supported posts.
Working with multiple Nano influencers can be a great choice if your target is to tap into a niche, highly engaged communities.
PinkBlush Maternity is a company that often collaborates with Nano influencers. Their feed is full of real-life consumers who use their products on a regular basis and share their experiences with their own audiences:
While nano and micro-influencers do not have the same mass reach as Mega Macro (1M+) influencers, they can be a more cost-effective option for marketers looking to target specific audiences.
Chrissy Abram, Later’s PR and Influencer Manager agrees: “Partnering with Micro-influencers has the potential of tapping into a very committed audience without having to compete for their attention.”
Myth #3: Paid Partnerships on Instagram Are Difficult to Establish
Another widely held misconception is that Instagram’s Branded Content tools are not open to all.
What is the truth? Everything you need is a Business profile.
Simply go to “Settings” and choose “Company.” Scroll all the way down to the “Branded Content” portion. Then, toggle the “Manually Approve Tags” button to the on position.
Myth #4: All Influencers Purchase Followers
There is no getting around it: fake followers exist, and some influencers do inflate their social media follower count.
However, not all influencers purchase phony followers.
Indeed, there is a growing focus on the consistency of an influencer’s following, with many people believing that a smaller, more active following is just as good, if not better than a larger, disengaged one.
Fortunately, if you are uncertain about the validity of an influencer’s following, there are steps you may take before agreeing to a collaboration.
Consider how many likes and comments their posts get, as well as the accounts that are actively communicating with them. Do they seem sincere?
If this isn’t enough, you can submit a validated output report or use a third-party validation tool such as Fohr or Social Blade.
Myth #5: Influencer marketing is ineffective for B2B brands.
Influencer marketing is undeniably successful for B2C brands in the beauty, apparel, food, and lifestyle industries.
However, when it comes to B2B, many brands are less persuaded.
However, when it comes to B2B brands, such as Cisco, which produced “Cisco Champions,” it is clear that influencer marketing can produce excellent results.