Influencer marketing for small businesses can be extremely beneficial.
Influencer marketing has exploded in recent years. By 2022, brands are expected to spend over $15 billion on influencer marketing.
The success of influencer marketing depends on many factors including the reach of the influencer you work with and finding just the right partnership between brand and influencer.
With the explosion of influencer marketing, brands from all industries are likely to find an influencer whose audience matches their target market.
Some 87%, of shoppers admit that they’ve been prompted to make a purchase by an influencer.
It’s easy to understand why influencer marketing works for big companies with big marketing budgets, but what about small businesses?
Can this strategy be successful on a smaller scale?
Working with influencers can be costly, but small businesses can find a partnership that works within their budgets. Micro-influencers typically have a smaller follower account but have very specific niche audiences.
Working with a micro-influencer is 6.7X more cost-efficient per engagement.
Additionally, micro-influencers have a much deeper connection to their audiences than many big influencers or celebrities.
Micro-influencers have, on average, seven times more engagement than influencers with huge follower counts.
Micro-influencers have built a very strong relationship with their followers and focus on selling a story over a product.
Finding a micro-influencer whose audience aligns with your target market is key. Finding a micro-influencer who is already a fan of your brand can give your partnership an extra boost.
Due to the fact that micro-influencers have a smaller following, if the marketing budget allows, it may be beneficial to partner with a few different people in the same sector to have access to a bigger audience.
Just because your brand doesn’t have a massive marketing budget, influencer marketing is not out of reach.
With a huge pool of influencers on social media, finding the perfect partner is not unattainable. And with micro-influencers, not over budget.
Category: Social Media Marketing 201