‘Influencer Marketing’ is the latest buzzword in the online marketing world. Many big brands are seeing phenomenal results! However, influencer marketing really levels the playing field, allowing smaller brands and businesses a more tangible platform to compete with the industry leaders. What does influencer marketing mean for your business? continue reading to find out.
What is Influencer Marketing?
We like to think of influencer marketing as a ‘celebrity endorsement lite’. Having a big name endorsing your FMCG brand could be a good (but expensive) move. It creates exposure, association and host of other nice things that us marketers love. Now think about niche celebrities. And we’re not talking UFC – Connor McGregor, Music – Beyonce, Football – Ronaldo etc. We’re talking super niche.
Think of your hobby. Is there a YouTuber or Instagrammer who’s word is gospel is to you? If there is then this person is an influencer within the niche your hobby belongs to.
Hardware reviews, makeup tutorials, foodies, travel bloggers – they are all influencers who have large audiences that trust them. Trust is key here, as a nod towards your brand from a trusted source could be all you need to gain massive exposure, sales increase and other lovely marketing stuff.
Why is influencer marketing important for small businesses?
If you are a small business you are likely not yet ready to compete head to head with the industry-dominating company. That is why going niche is the way forward. Creating products and services that are more appealing to a smaller subset of the market is one of the most commonly used penetration strategies outside price.
Formulating your marketing activities should be done with similar thought. You want your budget to reach as many qualified leads/customers as possible. With influencer marketing, you have a great opportunity to tap into highly qualified customers who are active in your market.
Influencers are generally trusted in their niche. Having an endorsement results in trust being passed on. For small businesses, this creates a realistic opportunity of brand endorsement that won’t break the bank!
Overall influencer marketing gives small businesses a tool that is personalised, targeted and engaging. The bottom line is that influencer marketing can help increase sales!
Tips for small business influencer marketing success
- Focus on creating quality content with influencers. This could be a good review, solid sponsored video content or anything that can be reused in future campaigns.
- Beware of fake accounts! They do exist and they don’t add any value to your brand.
- Integrate influencer marketing to support other activities. Don’t rely on one marketing channel.