Influencer marketing has gotten some negative press lately, with advertisers voicing understandable concerns about issues like attribution and return on investment.
In June 2018, Unilever CMO Keith Weed went so far as to tell a crowd gathered at Cannes that his company would no longer work with influencers who inflated their follower counts by simply buying them.
“We need to take urgent action now to rebuild trust before it’s gone forever,” Weed said in a statement that was picked up by several media outlets.1
When it comes to influencers, Weed’s skeptical gaze is understandable. Unilever’s relationships with influencers who have fake followers has been well documented. For example, analytics company Points North Group estimated that 25% of the followers of influencers working with Unilever brand Dove in 2018 were fake.
The Influencer Paradox
Despite this, the practice of influencer marketing is still drawing significant outlays from advertisers. Points North also estimated that North American marketers spent more than $1 billion on influencers in 2018.2eMarketer estimates that, worldwide, marketers are allocating about 10% of their budgets to influencers on average, and that marketers plan to continue increasing their spending on the strategy.3
Marketers are stuck in something of an influencer paradox. Influencer agency Mediakix surveyed marketers in January and found that 80% consider influencer marketing to be effective. But 50% also said that spotting fake followers and inauthentic engagement was their chief challenge with influencer marketing, more than any other factor.4
Go Micro for a Better Influencer Strategy
Influencer marketing is really just the digital equivalent of an old advertising standby—the celebrity endorsement. In the 90s, Michael Jordan was paid millions for hawking Nikes on TV. Today Kendall Jenner is reportedly pulling in six figures for sponsored posts potentially seen by her roughly 109 million followers.5
But as thinking around influencer marketing evolves, some brands and retailers are moving away from influencers that promise scale. Instead they’re getting replaced by so-called microinfluencers and nanoinfluencers.
These influencers have a fraction of the number of followers that the most famous celebrity influencers have, but often deliver much better levels of engagement.6
Your Shoppers Are Also Influencers
Why are these microinfluencers delivering better results for marketers? One key reason is because they’re seen as authentic sources of information, instead of celebrities looking to make a quick buck.
In that sense, microinfluencers have a lot in common with a resource eCommerce sites might not be taking full advantage of—their own customers.
Like influencer marketing, a Voice of the Customer strategy has proven benefits. Our research shows that 76% of shoppers are less likely to make a purchase from a site that lacks Customer-Generated Content like Ratings & Reviews. And 74% said Customer-Generated Content influenced their decision to shop on one site over another.
When a product is backed by other customers with content like Ratings & Reviews, it gives shoppers the social proof they might need to pull the trigger on a purchase—the same way an influencer endorsement might. Brands and retailers with online stores can benefit from this effect by taking a more expansive view of what an influencer looks like.
How TurnTo Can Help
Instagram’s meteoric growth was due in no small part to its mobile-first approach. Our Visual Reviews product was similarly created with smartphone users in mind, making it simple for them to submit a photo from their device instead of typing out a review.
Those photos can be displayed on your product detail page in a constantly updated gallery row, just like a social media feed. Converse's site is a great example of how customer created visuals can be showcased on a product page.
TurnTo also partners with services like Curalate, which lets you integrate visually focused social media into product pages right alongside content submitted directly by customers.
In fact, TurnTo’s entire Customer-Generated Content product suite of Ratings & Reviews, Community Q&A, Visual Reviews™, and Checkout Comments™ is designed to help eCommerce sites gather more and better quality content from your customers.