Social Media Marketing vs. Influencer Marketing: Choosing the Right Strategy for Your Business

 

Social media marketing (SMM) and influencer marketing (IM) are two very different but equally effective strategies. Deciding which of the two is right for your business begins with understanding the objectives, functions, benefits and potential drawbacks of both.

 

Social Media Marketing (SMM)

Objectives:

Social media marketing revolves around leveraging social media platforms to achieve various objectives, which include increasing brand awareness, driving website traffic and engaging with the target audience. SMM is an excellent tool for building a community around your brand and fostering customer loyalty.

Benefits:

1. Broad Reach: SMM allows you to reach a wide audience. Social media platforms have billions of active users, making it easier to connect with potential customers.

2. Cost-Effective: Compared to traditional advertising methods, SMM can be relatively cost-effective. You can choose to run paid ads or create organic content, giving you flexibility to fit your budget.

3. Engagement: Interacting with your audience through social media allows for real-time engagement. You can respond to comments, answer questions and build a stronger brand-customer relationship.

Drawbacks:

1. Time-Consuming: Managing social media accounts and creating engaging content can put a major drain on your resources.

2. Competition: Due to the popularity of SMM, there's intense competition for audience attention. Standing out from the crowd can be challenging.

Influencer Marketing (IM)

Objectives:

Influencer Marketing involves partnering with individuals who have a significant and engaged following on social media. The primary goal is to leverage their influence to promote your brand or products. IM is particularly effective for reaching niche audiences and building trust through a credible source.

Benefits:

1. Trust and Authenticity: When an influencer promotes your product or service, it can feel like a personal recommendation.

2. Targeted Audience: You can choose influencers whose followers align with your target audience, ensuring your message reaches the right people.

3. Content Creation: Influencers often create high-quality, engaging content that showcases your products or services in a unique way, saving you time and effort.

Drawbacks:

1. Cost: Collaborating with influencers can be expensive, particularly if you're working with well-known influencers with large followings.

2. Lack of Control: Once you hand over the reins to an influencer, you have limited control over how they present your brand.

Choosing the Right Strategy

Now that we've explored the core aspects of both SMM and IM, how do you determine which one is right for your business, or if a combination is ideal?

1. Know Your Goals: If you aim to build brand awareness and engage with a broad audience, SMM might be your go-to strategy. If you're targeting a specific niche and aiming for authentic endorsements, IM could be more effective.

2. Budget Considerations: Evaluate your budget. SMM can be cost-effective if managed well, whereas IM often requires a significant investment.

3. Audience Analysis: Understand your target audience. If they are highly active on social media and follow influencers within your niche, IM might be the way to go. However, if your audience is diverse and scattered across various demographics, SMM can help you reach a broader spectrum.

4. Content Needs: Consider your content creation capabilities. If you struggle with producing engaging content, collaborating with influencers can alleviate that burden. On the other hand, if you have a creative team in place, SMM allows you to have more control over your content.

5. Risk Tolerance: Assess your risk tolerance. IM involves entrusting your brand image to influencers, which can be risky. If you prefer to maintain greater control over your messaging, SMM might be a safer choice.

Is Influencer Marketing Still a Worthwhile Investment?

 The more widespread a marketing tactic becomes, the lower its subsequent influence on its target market. Consumers these days are savvy to the attempts of businesses to convince them to act on the basis of marketing messages and associated materials.

When any given approach to marketing is more or less done to death, it becomes ineffective and loses its appeal.


In which case, is influencer marketing still a worthwhile investment in 2021? With approximately 80% of companies now investing in influencer marketing, does it still have the same impact and appeal it had in previous years?

The Mechanics of Influencer Marketing

In terms of logistics, the basics of influencer marketing have not changed over the years. It is a simple yet effective strategy that involves hiring (or convincing) an influential individual to speak to a targeted audience on your behalf.

Rather than attempting to sell your products and services directly to customers, you do so via a proxy. One that has significantly more influence over your target audience than you do, and is therefore more likely to be heard.

Increasingly, consumers are expressing near-total distrust for the brands and businesses they come into contact with online. Guilty until proven innocent, you can expect everything you say to be scrutinised or ignored entirely - unless your claims are verified by someone your audience trusts.

This is where the power of influencer marketing lies - more than 90% of all consumers act upon the suggestions and recommendations of those they consider trustworthy.

The Influencer Marketing Landscape in 2021

On one hand, you could argue that yes - consumers are not oblivious to the fact that businesses are using influencers to target them. Nevertheless, this is having no bearing whatsoever on the potential value and impact of an effective influencer marketing strategy.

In fact, the influencer marketing landscape is only set to continue growing and diversifying indefinitely.

For one thing, influencer marketing almost always leverages the reach and popularity of social media. During 2020, estimates suggest that the total number of social network users worldwide once again increased by more than 10%.

This equates to another 375 million people becoming active on social media, on top of the 4 billion already hooked.

As a result, nine out of 10 marketers said that influencers were brought into their marketing strategies and will continue to play an important role in their activities going forwards. More importantly, around two thirds of businesses (65%) have indicated their intention to spend even more on influencer marketing throughout the course of this year.

All of which suggests that not only is influencer marketing still a worthwhile investment in 2021, but that its relevance and appeal are both at an all-time high.


With popularity and appeal at an all-time high, more businesses than ever before are planning to increase their influencer marketing spend in 2021.

But what are the major influencer marketing trends set to dominate the landscape over the next months? If planning a new influencer marketing venture or intending to diversify your existing strategy, where should you be allocating more of your money for the best possible ROI?

Trend 1. Micro Influencers

Increasingly, major influencers with enormous audiences are losing their impact and influence over their followers. The most obvious example of which being a major celebrity, who can most likely be persuaded to say anything and promote anything - if paid the right price.

This is why celebrity endorsements are heavily scrutinised and often interpreted as unrealistic, inauthentic and impossible to take seriously. By contrast, micro influencers with much smaller audiences are far more likely to curate trust among their followers.

The bigger the audience, the lower the overall engagement rate - influencers with fewer than 5,000 often achieve the highest engagement rates of all. As an obvious added bonus, working with micro influencers typically tends to be exponentially less expensive than bringing major influencers or celebrities on board.

Trend 2. Forging and Maintaining Long-Term Partnerships

Joining forces with an influencer for a one-time-only promotional campaign can certainly have the desired effect. However, these one-off promos are nowhere near as effective or lucrative as long-term partnerships.

To develop and maintain long-term relationships with influencers is to effectively boost the appeal of your business with an influential brand ambassador. The longer and deeper the relationship, the less it looks like you are simply paying an influencer to say what you want them to say.

Particularly with smaller-scale influencers, building and maintaining long-term relationships is more about earning their interest and respect than paying them for their services. You’ll undoubtedly still be expected to pay a fair price, but they are only likely to support and represent a brand long-term if they genuinely believe in it.

Trend 3. Short Video Clips

The third biggest trend set to dominate the landscape in 2021 is the use of short video clips to send powerful marketing messages. Video content has been growing in popularity and influence for some time, though has really come into its own in the age of TikTok.

Instant gratification culture has taken over the world, resulting in a new generation of consumers that expect to be entertained and engaged in seconds. Whereas a five-minute product review video would once have done the trick, you now need to pack the same message into a 30-second clip to have the desired effect.

Short, punchy and impactful video clips from relevant influencers can be more appealing and effective than anything you could create and publish in-house. They can also be comparatively cost-effective, given the relative simplicity of producing them.