When it comes to marketing, small businesses often have to make tough decisions about where to allocate their limited resources. With so many different channels and strategies available, it can be difficult to determine which ones are the best fit for your brand. One marketing strategy that has been gaining a lot of traction lately is influencer marketing. But does this type of marketing make sense for your small businesses? Today, we will discuss what influencer marketing is, how it works, and how you can determine if it is the right fit for your brand.
What is influencer marketing?
Influencer marketing focuses on using key leaders to drive your brand’s message to the larger market. These leaders, or “influencers,” can be anyone from celebrities and social media personalities to industry experts and thought leaders. The goal of influencer marketing is to build relationships with these influencers in order to get them to share content about your brand or products with their audience.
How does influencer marketing work?
There are a few different ways that brands can work with influencers. The most common method is through sponsored posts, where the brand pays the influencer to promote their product or service on their social media channels. This could be anything from a simple post featuring the product to a more elaborate video or blog post. Another way brands can work with influencers is by sending them free products in exchange for an honest review. This allows the influencer to try out the product and give their audience an unbiased look at what it is like. The most successful influencer marketing partnerships are where the brand and influencer collaborate to make the content most authentic and relevant to the influencer’s audience.
Should your small business be doing influencer marketing?
Now that we have a better understanding of what influencer marketing is and how it works, let’s discuss whether or not it makes sense for your small business. There are a few different factors you will need to consider before making this decision.
First, you need to think about who your target audience is and whether or not they are active on social media. If your target audience is not active on social media, then influencer marketing is probably not going to be a good fit for your business. However, if your target audience is active on social media – which more than 80% of consumers today are actively looking for purchasing ideas on social media – and you think they would be receptive to content from an influencer they follow, then influencer marketing could be a great way to reach them. Next, you have to identify the right influencers who can effectively reach your audience.
Second, you need to consider your budget. Influencer marketing can be a very effective way to reach your target audience, but it can also be quite costly. You will need to factor in the cost of paying for sponsored posts or sending free products to influencers when determining if this type of marketing is right for your small business.
Finally, you need to think about what kind of message you want to send with your marketing. If you are looking for a way to build brand awareness or create more of a personal connection with your target audience, then influencer marketing could be a great option.
No matter what decision you make about influencer marketing, the most important thing is that you are thoughtful about your approach and align it with your overall business goals.
Do you think influencer marketing makes sense for small businesses? Navigating the world of influencers and creating quality content that makes fans take action requires research and expertise. We’ve helped dozens of brands create successful influencer marketing partnerships — contact us to discuss if influencer marketing is a marketing strategy that your brand should consider.