The value of social media influencers is always in question especially concerning what the right price of investment on an influencer and what the roi is.
The issue is too many social media influencers and not enough guidelines to determine what is the worth on reach, engagement, and brand awareness.
CMO.com quotes CEO and co-founder of the influencer management platform, Scrunch who says about the value of social media influencers for brands,
“The barrier to creating a name for yourself is pretty low these days. Set up an account, generate some great content, get a mass number of followers, and all of a sudden you have landed yourself in this position of what is called an influencer.”
He continues to add – “What emerged out of that is the fact that there are now millions of them across every category you can think of. As a result, the brands are confused – they don’t know who to work with, how to vet an influencer, and understand whether it is going to be a success or not. That is the real risk. You have to invest up front in these content creators, with having no idea of how to measure it or whether it is going to drive a result for the business.”
So how can a brand gage the right investment when undertaking an influencing marketing campaign.
To start with here are the pros and cons of paying and not paying an influencer.
Check out our in-depth post about social media influencers and make sure you aren’t wasting your time or money.