If you have a small marketing budget, influencer marketing can be an affordable way to effectively reach your target audience. Remember these 7 tips to achieve optimal results when using influencer marketing for small businesses!
1. Choose the Right Influencers for Your Brand
Before finalizing a collaboration, it is important to consider three factors that will determine the success of your influencer marketing campaign: the quality of influencers you select, the level of results your campaign will yield, and the importance of choosing the right influencers for the job.
The story and values of the influencer
When engaging in influencer marketing, it is vital to consider the impact it has on your brand’s reputation. Collaborating with an influencer implies that a part of their image becomes associated with your brand. Hence, it is crucial to contemplate whether their values align with your brand’s and whether they are a suitable representative for your brand.
Influencer’s price vs social media stats
It can be perplexing to determine the pricing of Instagram influencers. Are they charging a reasonable amount based on their average reach? It is crucial to understand that the number of followers does not hold significance in this case as there is no value in paying for a large following if their content does not reach them. Instead, focus on examining their engagement rate, average likes, and average reach.
Demographics of an influencer’s audience.
When selecting influencers, one of the primary factors to consider is whether their audience aligns with your target group. Moreover, examining the influencer’s audience demographics assists in identifying counterfeit followers.
Using an influencer marketing tool is highly recommended due to the detailed insights it provides. By utilizing this tool, you can not only analyze the demographic distribution of an influencer’s followers in terms of age, location, and gender, but you can also gain access to additional information such as their interests, brand loyalty, the credibility of their followers, and much more. To experience this firsthand, create a complimentary account and give it a try!
2. Prefer Micro-Influencers over Big Influencers
By opting for a campaign with several micro-influencers instead of a single prominent one, you can achieve a higher return on investment despite having a limited budget.
What is the reason behind this? To start with, influencers who have a smaller number of followers tend to have greater engagement levels and establish a more genuine connection with their followers. Additionally, they generally ask for lower fees and are often willing to work solely in exchange for products, making them a more affordable option.
We will examine two campaigns to illustrate the difference in approach. In the first scenario, the brand decides to collaborate with a single prominent influencer who has 50,000 followers. In the second scenario, they opt to work with 10 micro-influencers for their campaign.
3. Set Up Story-Only Campaigns for The Bigger Influencers
Nevertheless, it may be advantageous to engage larger influencers in order to extend your reach. In such instances, you can execute two separate campaigns: one regular campaign targeting smaller influencers, and another exclusively focused on stories for the larger influencers. Since influencers generally charge lower fees for stories compared to posts, it presents a cost-effective means to garner wider coverage.
4. Reward Influencers with Products
Micro-influencers frequently agree to collaborations in exchange for solely receiving products as compensation – particularly if they genuinely enjoy the product and already utilize it.
There are two benefits to conducting such campaigns. Firstly, they are highly economical for the brand. Secondly, product campaigns have a tendency to attract influencers who genuinely adore the product and are eager to provide sincere recommendations to their followers. Consequently, collaboration posts carry an air of authenticity and yield superior outcomes.
Please take note that when dealing with this situation, it is important to consider the worth of the product as well – it wouldn’t be fair to ask influencers to promote something as small as water bottles or protein bars :’) If you are promoting a product that is priced lower, it is advisable to provide monetary compensation alongside it.
5. Work with Your Superfans
To ensure optimal outcomes, it is crucial to cooperate with influencers who not only utilize your product or service but also genuinely endorse it to their audience. This approach guarantees the creation of authentic collaboration posts, yielding excellent outcomes.
To identify your superfans, begin by examining your customer list for potential influencers. Moreover, evaluate your social media platforms to identify individuals who are already actively promoting your brand.
6. Don’t Skip Out on Podcasting
When considering influencer marketing, we often associate it with platforms such as Instagram, YouTube, and TikTok, overlooking the rising popularity of podcasts.
If your influencer marketing strategy overlooks podcasters, especially those in your specific field, you are failing to seize a valuable opportunity to connect with the appropriate audience. A significant number of current content consumers rely on podcasts to acquire new abilities, stay updated on trends, or engage with their hobbies and interests.
7. Always Monitor Your Metrics
In order to make adjustments, it is crucial to keep track of the performance of your campaign as that is the only way to determine its success. Without understanding what is effective and what is not, it becomes challenging to gauge the necessary changes.
By utilizing Google Analytics and similar tools, you can gain a comprehensive understanding of where your website visitors come from. This enables you to promptly identify any ineffective influencer campaigns and make appropriate adjustments to improve their performance.
8. Localize Your Influencer Marketing
When creating an influencer marketing strategy, small businesses should emphasize the effectiveness and cost-effectiveness as the key advantages. It is advisable for them to concentrate on micro-influencers and adopt a localized approach.
Although the audience of a micro-influencer might be small, their reach and conversion rate could surpass that of mega-influencers, who may exert less actual influence over purchasing decisions.
Whether you opt for a mega-influencer or a micro-influencer, it is crucial to comprehend where their audiences are located and to ponder on the potential consequences if your product were to unexpectedly receive orders from India, China, or the UK.
To maximize the benefits of influencer marketing, it is advisable to seek an influencer whose audience is predominantly from your region. Implementing a strong local micro-influencer marketing strategy will yield a substantial return on investment and pave the way for future expansion.
9. Avoid Short-Term and Seasonal Campaigns
Small businesses with limited budgets for influencer marketing should allocate their funds towards versatile content with lasting relevance. If you are unable to frequently engage new campaigns, it is advisable to steer clear of highly seasonal content or influencer partnerships focused on short-term arrangements.
You can get more value for your money by utilizing evergreen influencer marketing content and making it last longer. This way, you can reintegrate it at a later time while still achieving the same results.
10. Target Influencers That Follow Your Brand
Spotting individuals who are already drawn to your brand presents an invaluable chance that must not be overlooked. These individuals are more likely to readily accept any cooperative endeavors since they possess a genuine faith in your brand, fostered even before any collaboration.
These devoted customers are ideal candidates for influencer marketing since you have already established a connection with them without even realizing it. It requires significant time and effort to find an influencer who is unfamiliar with your brand and needs to develop trust and comprehension about it.
Therefore, examine your followers to identify which influencer is already displaying interest, ensuring that you select the most suitable individual for the marketing campaign.
11. Allow for Creative Freedom
It is important not to dictate the behavior of influencers when they are showcasing your product or discussing your business’s services. Their distinctive way of presenting themselves has allowed them to form real connections. It is imperative for influencers to keep producing genuine content. Additionally, this will lend a more organic and less promotional tone to your paid content.
