There's a huge misconception about influencer marketing, and it stops a lot of businesses from trying this potentially lucrative strategy.
It's the idea that influencers are really just in it for the money.
This causes two problems.
One is that business owners assume they don't have enough of a budget to find interested micro-influencers.
In some cases, they might actually accept free stuff in lieu of cash, especially if they're a small-time influencer with fewer than 100,000 followers.
The other issue is the opposite.
Some brands assume that if they throw enough money at someone, they can get a profitable sponsorship.
That's not true.
Influencers are, themselves, a brand, and that brand is something they want to protect.
Their followers care about authenticity, so they won't team up with companies that don't reflect their interests and values.
A recent blog post from Convince & Convert explains this in more detail.
MYTH: Influencers Will Only Work with Brands If They Receive Monetary Compensation
As 2017 approaches, compensation is still one of the most asked-about topics in conversations around influencer marketing.
Many content creators have spent years building loyal communities and solidifying their reputations as thought leaders, and they agree that providing their audience with quality content is more important than the paycheck itself.
Research by GroupHigh found that although 70 percent of content creators “prefer monetary compensation on a per-post-basis over affiliate partnerships, running ads on their blogs, or product trade . . . they will only take compensation from brands with products and services that align with their readership and personal branding.”
According to Jessica from Savory Experiments, “Balancing authenticity and paid sponsorship is a delicate balance. For me, I only accept agreements from brands that I truly believe in—being genuine and real is what my blog is based on. I’ve turned down very well-paid programs due to not feeling in-tune with a message or product.”
You can read about four more common misconceptions about influencer marketing in the full blog post from Convince & Convert.