How Can Small Businesses Benefit From Influencer Marketing?- April 04, 2019 - Views: 1014
Influencer marketing is not a new concept. If you think about, it started way back in the 90s when celebrities and public figures were paid to endorse products. And ever since the internet became the center of attention, the concept of influencer marketing has evolved.
In the online world, influencer marketing is not just limited to celebrities and royal families. It involves influencers from all walks of life. Today, those who have managed to establish themselves on the internet and has a robust following become an influencer. In fact, the most popular and successful influencers are regular people. Their followings often range from hundreds to millions of people.
Wondering what causes this kind of attention?
Content! Unique and engaging content!
Online users are always on the lookout for original and interesting content. It ranges from food to fitness and science to fashion and more. And these influencers has created, published and promoted this type of content which provided them with millions of followers.
According to Influencer Marketing Hub, businesses are making $7.65 for every $1 spent on influencer marketing. This indicates that influencer marketing provides an excellent return on the investment and that’s what you should be looking for.
The rise of influencer marketing on social media channels
It’s an indisputable fact that every business needs effective marketing strategy. But when it comes to establishing your business online, you can’t succeed by simply ranking on the first page of Google.
To be honest, every business is doing that. How will your business stand out?
There are dozens of marketing strategies to implement to build a successful online business including SMM, video marketing, PPC and email marketing. And thanks to a cut-throat competition in the online world, it has become intrinsic for businesses to grab hold of any new marketing strategy that works wonders. Influencer marketing is the newest form of online marketing that allows businesses to reach their target audience through influencers. It can help businesses build credibility in a short span of time and generate revenue.
Why influencer marketing?
Over the past few decades, people have grown a profound distrust for corporate brands. They consider brands to be extremely greedy or manipulative. This not only makes it difficult for businesses to establish themselves but also to increase their conversions.
As influencers on the internet are regular people and provide non-promotional content, people often connect with them easily. And with time, they build trust and garner millions of followers. This insists businesses to turn toward individuals to convey their message and improve their credibility.
The potential of reaching people through social media marketing is astonishing. There are tons of social media platforms with millions of active users. But it can be difficult to tap that potential on your own. Influences act as a channel that provides you access to this massive bucket full of audience.
Fit for every business
Whether you are digital marketing company, a clothing store or a commercial real estate business, every type of business can benefit from influencer marketing. It’s effective for increasing brand awareness, optimizing for search engines, building a reputation, and creating and promoting content. And every business needs all these to make their place on the internet.
Increase brand awareness
The beauty of influencer marketing is that the audience is already there. All you need to do is collaborate with influencers, offer a great value to them, and have them promote you. As long as you provide quality products or services, you will automatically drive more customers. Even if you don’t generate as much revenue as you expected, you still expand your reach. People will start recognizing your brand. And when people recognize your brand, they get curious to try your products.
Helps you reach your target audience
How much do you invest every month to find and test your audience? I think hundreds of dollars. With influencer marketing, you don’t have to spend additional funds on finding and testing your audience. Internet stars have already managed to gather this audience on their channels. With the help of relevant influencers, you can directly reach your target audience. This also helps you save hundreds of dollars that you otherwise would have spent on building customer persona.
How can small businesses afford influencer marketing?
Influencer marketing can be expensive especially when you are collaborating with an influencer with millions of followers. And small to medium businesses often don’t have enough budget to team up with influencers for their business marketing.
So does this mean you can’t benefit from influencer marketing?
Of course you can!
And the key to use influencer marketing for your small business is to use micro-influencers. The notion that influencers should have millions of followers to help a business advertise is misleading.
Though many influencers are promoting brands for monetary benefits, there are some who seek exclusive products and experiences.
Micro-influencers have smaller following but often provide high engagement. After all, higher engagement is the key factor in an influencer’s ultimate success. They have more relatable and approachable followers that can help small businesses run a successful campaign. Since they have smaller following, they don’t charge a lot. And this allows SMEs to afford influencers and make use of influencer marketing.
It’s no secret that this type of marketing strategy is here to stay. And if you want to get an edge over your competition, you can’t overlook it. Influencers provide you with a community of satisfied, happy and loyal users. And that’s what every business needs to generate ROI and conversions. Find an influencer that your target audience already trusts and follows and hand over your product or service to them. There is nothing better than a word-of-mouth recommendation and an influencer can do that for you.
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