PCG Blog

To begin with, one must recognize that influencer marketing is not a new concept. The idea has been there for almost a decade, but it gained popularity in the past few years. 

An ‘influencer’ is one who holds a certain amount of sway over a particular audience set. But in this particular case, we are talking about social media influencers. A few years ago - these sets were called bloggers. 

But with deeper penetration of social media, ‘influencers’ - content creators with a following of anywhere from 10,000 to a few million - became the norm. 

The biggest advantage of an ‘influencer’ was the reach they provided at much lower costs, and also removed the hassles of creating content for a brand (Well, in the initial days). It was a simple marketing tool that helped companies expand their reach and engagement. In the early days, there was also a certain amount of validation that came with the engagement.

But Is It Legit? 

As the influencer marketing industry has grown, concerns about the authenticity and credibility of influencers and their sponsored content have also increased. 

Various studies have shown that influencer marketing can be effective in driving sales and building brand awareness. One study found that 80% of consumers have made a purchase based on an influencer’s recommendation, and another found that influencer marketing generates $6.50 for every $1 spent.

The challenge is not so much about how much you are spending - but how do you measure the outcomes? To ensure that you have effective ROI, you need clearly defined goals before embarking on an influencer campaign. What do you want to achieve? Awareness? Sales? Drive website visits? Once you have your metrics defined, there are various tools to help measure the outcomes.

Another big challenge is about the legitimacy of influencers and their expertise. There are 2 problems with this: 

• Is the influencer truly a subject matter expert
• Are their followers entirely legit

There has been much spoken about this topic in the media recently, following a furore regarding 'Fininfluencers' - influencers who talk and provide insights and guidance on investment and other financial matters. The problem here was that many were not really qualified experts, and others did not openly declare that they were endorsing a product. As a brand, the legitimacy of the people you associate it also affects your reputation. 

How to Monitor and Measure the Impact of Influencer Marketing?

We’ve all heard the saying ‘it’s not what you see, but how you get rewarded for it’. And that’s the case with influencer marketing.

It is crucial to look at the behavior of your prospective customers. What do they do when they see you promoting your brand on social media? Where are they going to find more information about your brand? How do they feel when they see you promoting your brand on your brand’s social media channels? These are things that will help your company track its results.

To ensure that the influencer marketing strategy is legitimate and effective, brands should adhere to the following guidelines:

• Partner with authentic influencers: Look for influencers who are genuine and have followers that align with your brand's target audience, and look for engagement rates in each post.

• Disclose sponsored content: Ensure that all sponsored content is disclosed to the influencer's followers. Yes, even influencer marketing today is a form of advertisement. While the guidelines are not as strict (yet), it is only ethical to disclose your collaborations.

• Use analytics to track performance: Use analytics to track the performance of your influencer marketing campaign and adjust as needed.

Finding influencers with fake followers is generally easy by checking the engagement rates or just the comments below the posts. A few comments which are vague and very generic that could fit into any post could be bot-generated or from fake followers, comments like these:

In conclusion, influencer marketing can significantly impact a brand's marketing efforts, both positively and negatively. While there are certainly some concerns over the authenticity of influencer marketing, by partnering with authentic influencers and following best practices, brands can ensure that their influencer marketing campaigns are effective and authentic. In today's digital world, influencer marketing can be a valuable tool for brands looking to reach their target audience and build brand awareness, as long as it's done authentically and transparently.