The risks of using Social Media Influencers to market to an audience and how to find the correct influencer
Influencer marketing is not a new concept and has been used by the partnership of an organisation with somebody in the public eye that is able to influence the sales and image of the organisation and its product (Duffy, 2005).
Influencer marketing is moving towards using social media influencers as opposed to marketing through the traditional mainstream actor or actress. As seen in the graph below:
How to find a social media influencer to work with and the risks to look at
Definition of a social media influencer – ‘A Social Media Influencer is a user on social media who has established credibility in a specific industry. A social media influencer has access to a large audience and can persuade others by virtue of their authenticity and reach.’ (Pixlee, 2017). When using a social media influencer to promote a product, it is important to select the promoter appropriately since their actions will have a direct impact on the sales of the promoted product.
How to choose the correct social media influencer to work with
Using measurements such as relevance, Engagement, Reach, Frequency and Authenticity (Hamann, 2016). Using these qualitative and quantitative measurements allows a business to identify if the social media influencer is appropriate for a collaborative campaign. By using these metrics, a business will be able to look at the social media influencers account to assess if the account will bring good promotional value to the brand. By assessing the quality of the content as well as the engagement level of the social media influencer the business can assess if a contractual agreement will be low risk and highly beneficial for both parties.
Another important factor to look at when marketing through an influencer is ensuring that the influencer is aimed towards the same market and audience that the business is hoping to reach through the promotion. This can be verified by asking the influencer to present some of the demographic analysis of their audience.
Two-step flow of communication
This theory suggests information flows through ‘opinion leaders’ before being received by the general population (Katz, 1957). This can be related to using social media influencers by seeing the influencers as ‘opinion leaders’, the social media influencers are able to pass information onto their audience in a way that will influence their decisions with regards to the business that has partnered with the influencer to promote a product. By using a social influencer as an intermediary between the business and the audience the communication will be less direct and should influence the decision of the audience since it is a third party (social media influencer) that is promoting the product/service.
Risks Involved with using social media influencers
Only concerned with being paid
If the social media influencer is only concerned with receiving payment for the marketing campaign then the content produced is not likely to align with the goals set by the business paying them for the promotion (Smart Insights, 2017). If these goals aren’t a priority for the influencer then it is likely that the business will be at a loss since they will not be receiving the maximum output from the campaign as well as actually having to pay for the campaign that was not beneficial.
Reputational risks
When deciding which influencer will best suit the brand and its image, it is important to perform efficient and thorough research to ensure that the chosen influencer is socially responsible and cannot be seen in controversial (Ragan.com, 2018). If the influencer was to act in some kind of controversial manner then this will reflect badly on any businesses that are associated with this influencer, especially if the behaviour is in any way related to the business working with the influencer. An example of this can be seen with the YouTuber Jake Paul and his actions related to suicide in Japan (Ragan.com, 2018). Since YouTube pay Jake Paul for his video production, YouTube were questioned as to why they would support his behaviour by actually paying him for these videos and endorsing him.
Thinking of the future
A problem that can arise from a business and influencer relationship is that if the relationship is not maintained and eventually breaks down, once the influencer is out of any contractual agreement then they will be able to voice any negative opinions of the relationship (Patel, 2015). If the relationship was negative in any way then this opinion can be voiced by the influencer and cause their audience to see the business from a negative perspective.
References
Duffy, D. (2005). Affiliate marketing and its impact on e‐commerce. Journal of Consumer Marketing, 22(3), pp.161-163.
Hamann, H. (2016). 5 Tips for Finding the Right Social Influencers for Your Brand. [online] Convince and Convert: Social Media Consulting and Content Marketing Consulting. Available at: http://www.convinceandconvert.com/digital-marketing/5-tips-for-finding-the-right-social-influencers-for-your-brand/ [Accessed 20 Feb. 2018].
Pixlee. (2017). Definition: What is a social media influencer?. [online] Available at: https://www.pixlee.com/definitions/definition-social-media-influencer [Accessed 19 Feb. 2018].
Smart Insights. (2017). 4 influencer marketing risks to be wary of | Smart Insights. [online] Available at: https://www.smartinsights.com/online-pr/influencer-marketing/4-influencer-marketing-risks-wary/ [Accessed 22 Feb. 2018].
Ragan.com. (2018). How to minimize your brand’s reputation risk with influencer marketing woes. [online] Available at: https://www.ragan.com/PublicRelations/Articles/53779.aspx [Accessed 22 Feb. 2018].
Katz, E. (1957). The Two-Step Flow of Communication: An Up-To-Date Report on an Hypothesis. Public Opinion Quarterly, 21(1, Anniversary Issue Devoted to Twenty Years of Public Opinion Research), pp.61-63.
Patel, N. (2015). 6 Hidden Dangers of Influencer Marketing. [online] LinkdIn. Available at: https://www.linkedin.com/pulse/6-hidden-dangers-influencer-marketing-neil-patel [Accessed 24 Feb. 2018].