Marketers have fallen in love with influencer marketing. It enables them to leverage authentic content about their brands, increase awareness and drive traffic to their digital platforms.
At the end of 2016, analysts predicted the explosion of influencer marketing in 2017. Ten months in and it has lived up to expectations. Influencer marketing is ubiquitous, from A-list celebrities to thought leaders and brand advocates.
That said, influencer marketing has its frustrations many and marketers are questioning if they can really get a ROI.
What’s more, research shows that 47% of online consumers use ad blockers. The digital space is clogged with ads and branded content, it’s no longer feasible “to just get it out there”.
74% of mobile users find pop up ads extremely annoying, with 50% of them refusing to return to the pages with pop ups.
This is where influencer marketing may have an edge in creating brand awareness and driving sales. Brands are still able to advertise their content in a more subtle manner and with the added impetus of the influencer’s endorsement.
Facebook makes Influencer Marketing easy
Good news is that Facebook is making it easier for brands to run paid promotions for influencer marketing. Facebook has developed a new update that will allow influencers to turn their paid content into sponsored posts.
How? The influencer tags the brands they’re working with and then advertisers boost those posts directly without needing to share them.
- Marketers can choose to authorise which influencers can tag their brands in their page settings
- They can now measure the effectiveness of influencer posts
- They will have access to stats around reach, engagement, total spend and CPM of each piece of content.
- Facebook is giving back media control to advertisers as they now only pay influencers for their content, not media distribution
- Marketing teams can run media campaigns on their own, without the complicated process of gaining access to an influencer’s account
Facebook also makes it more expensive
While Facebook is making influencer marketing slipstreamed, marketers and influencers need to prepare to spend more on Facebook.
The worry is that Facebook’s algorithm will gradually suppress influencer posts if brands don’t boost them. In the past, brands were using an influencer’s follower base for organic reach. Now brands will have to pay for visibility.
The influencer marketing model is becoming less about followers and more about how deep brands can reach into their pockets. Influencers will have to rethink their business model beyond just their followers.
So why spend extra?
When it comes to Facebook, every update, including this new influencer product comes with the good, the bad and the ugly.
The good: Facebook made it easier to run paid promotions and measure success.
The Bad: Marketers and influencers will have to spend more to reap the rewards.