Top Influencer Marketing Challenges
Theglobal influencer marketing market sizehas been growing year after year and is set to hit $16.4 billion in 2022. This highlights the effectiveness ofinfluencer marketingand brands’ growing focus on increasing their presence and sales through collaborating with influencers.
But as with every strategy, there are challenges to overcome. Knowing what some of the top influencer marketing challenges are can provide insight into how to shape and fine-tune your own strategy.
Top challenges of influencer marketing
According to arecent surveystudying businesses that handle influencer marketing campaigns in-house, knowing how to measure the ROI and results of their campaign is the biggest challenge brands face.
As many as 28.1% of them list it as a concern they have. This also appears to be a growing problem for brands. Last year, just 23.5% said it was a challenge.
Second on the list of the top influencer marketing challenges faced by businesses is finding influencers for their campaigns. 27.4% of brands say it’s a problem they’re facing this year. Unlike measuring campaign results, this issue seems to be diminishing year after year. In 2021, more than one-third (34%) of brands say it was an issue—this is down from 2020, when the figure was 39%. Experts say the decrease may be because more brands are starting to expand to using third-party tools to help find influencers.
The third-biggest challenge brands face in influencer marketing is managing contracts and deadlines for the creators they hire. 14% say it’s an issue they face when running campaigns. Having bandwidth and time restraints follows closely behind, with 13.3% of businesses listing it as one of their biggest challenges of influencer marketing.
Rounding out the list of the top five influencer marketing challenges brands have is processing payments to influencers. 8.3% of brands say it’s an issue they face.
This list of influencer marketing challenges shows that obstacles in the strategy can occur at any point—whether it’s looking for influencers before the campaign is launched, during the campaign, or even after, with the measurement of results and processing of payments.
With these influencer marketing challenges in mind, brands can troubleshoot issues before launching a campaign and even have a contingency plan in place should things go south, ensuring their strategy can be executed as smoothly as possible.