Small businesses struggle with marketing, and this is the truth. Not many people know of small businesses that exist in their local vicinity. Even fewer people would know certain small businesses in their state. However, through a new marketing strategy known as influencer marketing, people can know your brand for a small price.
Before anything else, we should discuss a bit about influencer marketing. Influencer marketing is a marketing strategy that takes advantage of both influencers and social media platforms. Influencers in these platforms can promote products and services from companies. Furthermore, they can urge watchers to make this purchase.
Influencer marketing is a relatively new kind of marketing, and it’s something that many companies in the world are utilizing. It’s gaining traction, and because of this, many marketers are expecting an increase in the budget of this marketing strategy alone. It’s estimated that about 7% of companies in the U.S. are willing to spend millions of dollars on influencer marketing. It’s just that effective.
This marketing strategy is so good that it’s estimated to grow in the coming years. But why should you invest in influencers?
Influencer marketing relies on a particular individual to drive consumer awareness and sales for your company. It isn’t like any marketing strategies out there, and depending on one person can be problematic. However, influencers can be great at what they do, so you should set aside your fears of hiring them.
Influencers are very flexible in what they do, and they are talented in their own right. For example, most of them are good fashion photographers who can sell fashion items to consumers. Their flexibility is one of the main reasons influencers are such a great marketing tool.
You should also choose influencers because they are aware of their niche. Most of these influencers interact with their audience daily, knowing what they want from them. In addition, they are experts in how to sell products on their platform, which means that they are also the experts in selling your products in their channel. Their knowledge is extensive, and it’s something your marketers can’t have.
Lastly, influencers have a concentrated passion. This means that they want to grow in their platform more than anything else, and this drive is something that you won’t see in any other marketing strategy out there. They excel better in different strategies because this organic passion is alive and beating. As influencers continue to grow, the higher your reach will be.
The Benefits of Micro-Influencers
There are two kinds of influencers on the internet right now. The first is macro-influencers, who have millions of followers. The second is micro-influencers, who have about a hundred thousand followers. Each type of influencer have their strengths and weaknesses, but micro-influencers are the best for small businesses.
Macro-influencers can be very expensive. For example, someone like Christiano Ronaldo can charge about a million dollars to endorse certain products in his social media accounts. That’s money you don’t have right now. However, micro-influencers can charge as little as $100 to endorse your products and even promote your company. You can get so much out of them if you put in $10,000 in the marketing budget.
Moreover, you can hire many more micro-influencers to help expand your reach. Sure, macro-influencers might have more followers, but a mix of micro-followers can reach that same amount for half the price. So what else can micro-influencers do?
Micro-influencers can help build brand awareness more than anything else. They are known to reach out to their audience quite often, and every time they do, they can talk about your company. This is enriching brand awareness, and their concentrated effort can help grow your business and brand as a whole.
Since many people trust their influencers, they can help build consumer trust in your brand. Once again, it’s all about them giving exposure to your brand. Ensure that the influencers you hire can use your brand for free so they are incentivized to build consumer trust for you. The more they like your products, the more authentic their reviews can be. The better and more authentic the reviews are, the more consumers will trust you.
Lastly, we have the concentrated efforts of multiple micro-influencers working for your company. This concentrated effort is better than an entire marketing department with over a million dollars budget. This is because the concentrated efforts of micro-influencers can actively reach out to the audience, and they can take the initiative to bring more consumers into your brand.
The world of marketing is ever-expanding, which is good for small businesses like yours. This gives you more opportunities, such as influencer marketing, to improve your brand and grow your company.