Influencer Marketing is something we have all heard of before. However, with as much information as there is online about it, it can sometimes be hard to know what to believe or how to begin with influencer marketing. With multiple marketing myths circling in the market, let’s take a look at some common influencer marketing myths.

Myth #1

Influencer Marketing is a Fad

Many businesses steer clear of influencer marketing because they believe that it is a fad. However, influencer marketing is far from a fad and is a top influencer marketing myth. In fact, 49% of consumers today depend on influencer recommendations for their purchase decisions and 60% say they’ve been influenced by a recommendation when shopping in-store. Influencer marketing is actually gaining popularity. With social media marketing becoming even more popular for businesses, Influencer marketing has begun to cement itself as a steadfast marketing technique.

Myth #2

Influencer Marketing is for Young Generations Only

This influencer marketing myth is also false. Older generations are actually increasing their time spent online as well as how often they shop online. When you add this to the fact the Gen X and Boomers, when combined, still control a  majority of spending money here in the US. Businesses that target older audiences could highly benefit from using older influencers to target their older audiences in order to help build trust in their company and promote their products.

Myth #3

Influencer Marketing Doesn’t Work for B2B Companies

Influencer marketing absolutely does not have to require a lot of followers. This a a big influencer marketing myth. Micro and nano influencers have followers ranging from 500 to 10k followers. Smaller influencers, such as nano influencers, those with under 5,000 followers, actually have 5% engagement rate while those with massive following tend to range lower at a 1.6% engagement rate. Make sure to research potential influencers in depth and check to see how much their current engagement rate is. Remember, more followers does not always equal more engagement.

Myth #4

Influencer Marketing Requires a Large Number of Followers

This influencer marketing myth is totally false, and there are proven statistics to back this statement up:

• Microsoft and National Geographic partnered up for the “Make What’s Next” influencer marketing campaign. The campaign focused targeted photograpghy related female macro and micro influencers on Instagram. It focused on encouraging young women to pursue their dream job in Science, Technology, Engineering, and Math (STEM) disciplines. This crusade resulted in over 3.5 million likes it’s first day and reached a total of 91 million people.
• Monday.com, a project management software company, knew once the pandemic hit and people started working from home that they needed to quickly increase their brand awareness and credibility. For this, they partnered with top remote work experts who help display and market Monday.com content. This influencer marketing campaign was a massive success, reaching 1,790% over their initial reach goal. They also clocked an impressive 300,000 organic impressions on social media.

Myth #5

Influencer Marketing has No Rules

Another big influencer marketing myth comes from the idea that influencer marketing has no rules. This kind of thinking could land a business in a lot of trouble as there are actually laws surrounding influencer marketing.

In an October 2021 news discharge, the Federal Trade Commission said they’ve formally set many organizations straight for counterfeit audits and other deceiving supports. The punishment for misdirecting shoppers is up to $43,792 per infringement. Make sure that decided upon influencers are not only successful at promoting content but that they are also accurate in the way they depict the product or business they are promoting overall.

Wrapping Things Up

You are now familiar some of the most common influencer marketing myths. All these myths are false.  Influencer marketing, especially through micro and nano influencers that are more interactive with their followers, is something that could benefit any type of business. It is also something that will only continue to grow from here. With an expected growth rate of over 30% between now and 2028, it is for sure something that every small business should look into.