Is Influencer Marketing Really Beneficial? [2023] Is it really beneficial? What are the risks? All your questions answered at once!

Hello, my name is Tara. I am a consultant.
Influencer marketing," which is now commonly referred to as "influencer marketing," has grown rapidly since the beginning of the 2000s, and Instagram alone, which is a representative channel, is said to have a market size of 20 billion yen by 2024 (in Japan). Some studies suggest that the global market will exceed 10 trillion yen by 2030.
We will again explain what advantages and disadvantages there are for companies in terms of promotion methods, which cannot be avoided.

What are the benefits of influencer marketing?

1. Effectively reach your target audience
   Are you trying to select influencers based solely on the number of followers they have? The essence of influencer marketing is to use influencers who are knowledgeable and influential in a particular market or niche. The main benefit is to keep them engaged with the brand story and message for the company by having them understand it themselves, as well as to surround themselves with their followers. In a way, it's like having a PR person outside of the company. In terms of return on investment, it is a good idea to choose a person not just based on "high number of followers" or "high number of posts," but also based on "does he/she really understand the brand and will he/she transmit the message?" It is a good idea to choose based on the following criteria.
2. Quality content
   It is very important for influencers to be able to increase engagement with their own followers, which is why they are PDCAdaily trying to create engaging content. Instead of just introducing products, having them create quality content based on their own lifestyle and stories can help increase not only awareness, but also the value of the product or brand.
3. SEO
   Links and mentions from influencers work well for SEO. The improved search engine rankings of your content, due to its relevance and traffic to the many pieces of content they themselves have published in the past, can also help indirectly increase brand awareness.
4. High ROI
   Influencer marketing is said to have a higher return on investment (ROI) than other marketing methods. The reason is that it allows you to focus on reaching people with specific interests and hobbies, compared to doing broad-based commercials and advertisements.

In other words, if you choose influencers for vague reasons such as "because they are popular" or "because they somehow look like they fit the brand image," you will only increase engagement temporarily, but will not bring in users who will engage with the brand on an ongoing basis. So even if you have made the investment, you may not be able to take advantage of the benefits of influencer marketing.
When directing an agency, it is important to keep in mind that you should order after clarifying your brand's business strategy, such as what kind of customers you currently have and what kind of audience you want to expand to in the future.

Operation is the key to influencer marketing.

We often hear from company representatives that they are conducting spot advertising for a specific period of time or product, such as "we tried it once" or "we only do it at the timing of a new product". In fact, influencer marketing can be very wasteful if it is done on a transient basis.

For example, let's say you made a large investment and ordered one post each from several influencers with a large number of followers. Of course, you will get temporary traffic and engagement, which is fine for reporting to your manager. However, when viewed over the long term, it may become a vicious cycle in which a few people only send out one-sided messages in a commercial manner, the effects of which are not clear, the messages are transitory and then stop, and as a result, the effects themselves fade away.
We would like to share with you some key points of operation.

1. Influencer Selection
   Although it depends on the characteristics of the brand and the product, as mentioned above, if you pay attention to the following points about the influencer himself/herself, even if he/she has only a few hundred followers, he/she is more likely to understand your brand in the long term.
   Are they close to the brand target?
   Are they sympathetic to the brand?
   Do they have a relationship with the follower (e.g., reply to comments, etc.)?
2. Be transparent.
   Do not be afraid of being perceived as a "fake! If you try to hide the fact that you are posting at the request of a company, you may invite unnecessary flames and trouble.
   Let the influencer know that you are doing this as PR only, after having the influencer experience the product himself/herself.
3. Don't Overdo Content Direction
   Because you have invested so much in your brand, it is easy to overload the content with what the company wants you to say or how they want it to be communicated. However, if the consumers do not understand the value of the brand, it is a complete failure.
   As long as the target is set, the influencers themselves can think about how to convey the message to their followers without the need for a company representative to go into detail about the content.
   It is essential to have influencers post and communicate in their own words, only hedging against risks such as wrong usage of the product.
4. Ensure compliance.
   In an effort to increase effectiveness, there is a risk of sending out messages that may be in violation of the law, such as "Fat if you like or comment".
   As mentioned in 3. above, do not put too much pressure on influencers, but rather have them work as people who understand your brand.
5. Strategy Design + Effectiveness Measurement as a Set
   What are the benefits of influencer marketing? In many cases, the most important effect is to create and send out attractive posts and to gain recognition ≒ to get a large number of likes.
   The most important point is "how the post was received by followers", so it is not a good idea to measure the effect only by the number of views or likes after a few weeks.
   There are some surprising things that can be done after sending out messages, such as following up on replies to questions to make it easier for influencers themselves to communicate with their followers, or reading posted comments to uncover insights. This kind of operation can help you select your next influencer and PDCAyour content, further increasing your return on investment. This kind of follow-up will also increase the influencer's own loyalty, which will increase the likelihood that they will work with you as a more long-term partner.
   Be sure to develop a strategy in advance so that you do not leave outgoing messages and incorrectly measure their effectiveness.

Summary

What did you think? influencer marketing in a nutshell is often misunderstood as a "one-off measure to spread brand and product awareness to people with many followers," but in fact, it is a measure that can maximize long-term effects by strategically designing it, from advance preparation to PDCA.

The global market for influencer marketing is on the rise, so it is an essential measure when considering overseas expansion. Let's create a winning pattern for influencer marketing through long-term strategy design and effectiveness measurement PDCA.