18 August 2021 5 min reading
David Fairfull explores why influencer marketing is a key approach for small businesses and how it can be effectively used by SMEs.
Influencer marketing is one of the biggest changes of the digital economy. With its ability to reach new audiences and achieve 11x higher revenue streams (ROI) than traditional methods, it’s no wonder that threats are quickly becoming an integral part of many types of digital marketing campaigns. .
But for small businesses, knowing where to start can feel overwhelming. While some don’t see it as important, others often struggle to better test motivators or get lost in a sea of new rules and unclear measurement methods. However, the low-risk, high-return nature of marketing campaigns has many opportunities to miss, especially for SMEs.
And, how do small businesses achieve this? Here, I offer my tips on how to use influencers to your advantage.
Find the right audience
The website space is incredibly crowded, so the ability to find a targeted audience is crucial to successful competition. It has been reported that celebrity Kylie Jenner is worth more than AU $ 1 million in general. But not all businesses expect the most and most will get the most powerful results using small incentives, at a lower cost.
The benefit of using micro influencers, who have between 10,000 – 50,000 followers, is usually lower in cost, with some accepting payment for products and services instead. Plus, marketing experiments are ultimately all about engagement. This means that the higher the binding the more effective the influence.
Influencer Marketing Hub’s 2021 Influencer Benchmark Report found that athletes with less than 15,000 followers have higher earnings, living at 18 percent, compared to those with more than a million followers, at 5 percent. This is a win -win for small businesses – not only can you target a large audience, but you can also do it on just about any budget.
A good example of the SME is involving well -known members of the Australian beauty brand, Frank Body. The business started in 2013 for only AU $ 5,000 but no competitive budget. But by working with promoters, creating their products and encouraging users to share on websites with hashtags, they changed the name. Within 12 months, the brand had 350,000 followers on Instagram, and in 2017, annual revenue cracked to $ 20 million.
The founders found they could experiment with their audience on Instagram and find an affordable way to promote their products and build a voice. The impact is clear – influencer marketing has a low barrier to entry and allows SMEs to plant their names without breaking the bank.
Describe structure and how you measure success
Do you expect to see an increase in direct sales? Build name recognition? Increase your digital number? The purpose of your competition will be directly related to how you participate and an audience, as well as the definition of the subject matter.
Once you have defined your intent, work with persuasion to set methods for this to be measured. We did this during the recent campaign in Metigy. Our goal for this competition is to increase brand awareness and attract attention to our innovative new services that provide small businesses with easy access to the visuals. Because our focus was on expanding its knowledge, we ran a competition with three leaders for the week, giving users the chance to win a three -month unlimited plan for service.
Thanks to this competition, we eventually expanded our social media by 11 percent, reached 40,000 news stories and increased our internal content by close to 12 percent. These results showed that we were able to focus and engage a new audience, something that was an important topic for us. While there are many ways to measure a competition, the key is that it will be guided by your promotional efforts.
Build lasting relationships and experiences
Once you get the perfect influence, work the intimacy. Building a relationship with an influencer will help them become a kind of advocate for your small business. That means less time spent on production as you both understand the goal, the type of content that will work and how to do things. With stressors, it’s important to note that these relationships are often mutually beneficial and as the relationship progresses, you may be able to negotiate at a better price for a longer period of time.
At Metigy, during our new engaging experiment, we narrowed down the choice of things to do below by making sure our vision, motives and messages were clear. Each leader brought with them a strong and unique brand, but they all shared the same goal to encourage others to start their own businesses.
As business women themselves, they connected to our mission and felt connected to our purpose. This helped us maintain a close relationship with each leader as we all went through the struggle with the hope of cooperation and a visual adjustment.
The key is to work with motivators
Influencer marketing is one of the most versatile processes in digital marketing, but it is more than this. With more than a billion active people using Instagram each month, and close to doubling the number on Facebook, social media is clearly here to stay. For small businesses, the best take for kickstarting your influencer journey is to make sure you work with an influencer to share your values.
At the end of the day, you begin a close relationship with someone who is ready to be an advocate for your genre. Ask yourself: is this collaboration something you will be proud of? With a clear understanding of why you should participate in an attraction, the only question left is this: what are you waiting for?
David Fairfull is the CEO and co-founder of Metigy.
Photo by ANGELA FRANKLIN on Unsplash.
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