Metrics Matter With Influencer Marketing. Influencers are worth it when your performance metrics lead to increased customers and revenue. Vanity metrics are fine if you are able to monetize your growth through advertisers and other revenue streams.
As with any risky investment, when you partner with an influencer, you should be prepared to lose everything. So, work out a deal that you can afford to lose if it doesn’t work out. On the other hand, it could work out very well for you.
If you’re selling a product, then the influencer could drive customers to you through their endorsement. And, if you’re looking to build your own audience, they could drive lots of people to your content. If that doesn’t happen, then it may not be worth it. You will need to decide if the exposure and audience growth is satisfactory, and will lead to increased customers or revenue.
An Alternative to Paid Placements With Influencers
One of my past projects that leveraged influencers effectively was focused on crypto content. We published hundreds of articles and often mentioned influencers in the content. We had direct relationships with some of them, and tagged others on social media after the articles were published.
These tactics often led to the influencers sharing our content, and driving traffic to the website. We then had a marketing funnel in place where we retargeted those website visitors through digital ads, and got others to sign up for our email list. Over time, these people turned into paid subscribers, making the influencer marketing worth it.