Business

How to Grow your business through Influencer marketing?

Marketing

Influencer marketing is an endorsement deal of a brand sign with a popular individual or celebrity. So, instead of paying for a social media channel like Facebook, Instagram, Vero, or CoNnEcTdfor distribution, you have the opportunity to pay another individual.

The payment isn’t only made for distribution but also for the ad or content the influencer usually creates. Such campaignshave huge potential to help your marketing efforts because of the loyalfans that follow, trustor value their opinion on the content or niche they create around.Influencers have a lot of clout in their field, and they influence theexisting trend through the community they cultivate.

Importance of influencer marketing

In last few years, Influencer marketing has grown into a 15 billion dollarsindustry and it’s only becoming bigger. The leading social channels like Facebook and Instagram, and also upcoming channels such as Vero, CoNnEcTd, and Helo have huge potential in returns if you find the right influencer to partner with.

By volume, Instagram is the most popular market for influencers as almost 80% of brands use it for their social media campaigns. But other platforms are equally important, and you can select your channel as per your specific requirement.

According to a report, 36% of businesses use YouTube, 24% prefers Twitter and another 12% use LinkedIn for influencer marketing. As you explore more on different platforms, you realize it’s crucial to be an early starter and practitioner on emerging platforms that have the most attention.

Creating Influencer marketing strategy

While planning your influencer marketing strategy, you must think about whom you’d like to target and where their attention is. So, when you finally locate where this is going; that’s the place to spend your budget and make your pennies really work for you.

Apps such as Clubhouse and LinkedIn are full of potential because people are realizing the value of influencers on that platform. Now how it can help your business?

Essentially, there are two types of influencers: macro and micro. Generally, Micro influencers have a more committedfan base, and they’re good for brands to collaborate with if they want to target their audiences with intention. Macro influencers likeKylie Jenner, Dwayne Johnson, Logan Paul, or Mr. Beast have huge audiences–but as a rule, targeted reach, engagement, and accessibility are not easy to obtain.

It’s almostlike a laser, easier to hit your target with a smaller beam. Though, a big beam might hit the target, but not with a kind of impact you’d like. That’s why most brands out there have utilized micro influencers and prospered as a result.

While planning your strategies, it’s important to prioritize influencers that have a vibrant community and come at a very competitive price point. Always choose influencers you trust and build a relationship with themirrespective of whether they have ten thousand followers or five million followers.

What is more important is to ensure you are getting the best deal for your buck. Besides, there may be a huge upside if you catch a micro-influencer that is on its way to becoming a macro influencer.

Once you decide on your influencer, you have to plan about what you’d like them to do. Don’t restrict yourself to the platforms they are on; influencers have tremendous potential to review brick and mortar stores.

So, if you own physical storefronts–hire an influencer to come to your store, and promote your products, or may be organize a Q&A session.

Depending on the type of your business, you could be spending anything from 30 to 40% of your budget on influencer marketing. One that gives you the best creative for meaningful distribution of your products to a relevant audience is the authentic and right influencer for you. And last but not the least when you find the right influencer, don’t micromanage!

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