Influencer Marketing for Small Businesses
How to Use Influencer Marketing
We’ve all witnessed the rise of influencer marketing over the years, and it’s projected to only keep getting bigger. Countless companies have implemented influencer marketing in their social media strategies, leveraging their chosen influencer’s connection with their target audience to cultivate new, positive relationships with their brand. Generating real results through influencer marketing, however, is contingent on carrying out an effective, purposeful strategy.
What exactly is an influencer?
Generally speaking, an influencer is someone that inspires change. Such change can take form through emotion or action, and often starts a domino effect. Instagram has been deemed “the influencer platform,” and is where most influencer campaign ad dollars are spent.
As marketers continue to spend ad dollars to have their brands promoted by social media influencers, there have been changing trends in who constitutes as an influencer. More recently, marketers have come to find that most of the time it’s not the number of followers that matters most, but engagement rates.
In many situations, advertisers would rather use a micro-influencer—defined as a user with as few as 900 and as many as 500,000 followers—who is relatable to their audience and more engaged with them than a widely-followed, less accessible figure.
What can an influencer do for you?
If your goal is to increase your social media presence, consumer brand awareness, and overall sales, influencer marketing is a great tactic to consider adding to your social media strategy. (Don’t have a social media strategy yet? Learn how to make a content calendar!)
Marketers love influencers so much because influencers build their business by creating a relationship with their audience, and that audience trusts them.
Here are some quick stats that demonstrate the value of influencer marketing:
- 70% of teens trust influencers more than traditional celebrities
- 40% of users have purchased something because they saw an influencer use it on social media
- The average ROI on an influencer campaign is $6.50 for every dollar spent
When using an influencer, writing the copy yourself or discussing the key points that will be included in their post allows you to share on-brand information with your audience, via a messenger that they already trust.
When an influencer shares their positive opinion of your brand, it builds interest among their followers. It’s key to include a call to action that directs the influencer’s followers to learn more about what they are promoting, allowing you to maximize conversions—not just brand awareness.
Selecting the right influencer
Choosing the right influencer for your business is an essential part of the process. For local small businesses, the first place to scout influencer talent is in the followers that have engaged with your business online. Customers that have geotagged their posts at your business, shared pictures of their experience, or liked or commented on your previous posts are great places to start your search. These customers are already engaged with your brand, and would be a natural partner in promoting it.
If that process seems to be a dead end, search your city name on Instagram. Searching Gainesville, Florida on Instagram brings up the top recent posts in the area, many relating to fitness, beauty, or fashion. You can browse these posts for users who seem like they appeal to your audience and would serve as a strong representative for your brand.
When sifting through potential influencer accounts, compare each user’s number of followers and their average likes per post. A user who has 3,000 followers, posts regularly, and generates a few thousand engagements per month is more valuable than a user who has 5,000 followers but doesn’t have an engaged audience.
The influencers that you choose will reflect your brand, and should pose minimal risks to your reputation. They should also promote a lifestyle or interest that relates to your industry or appeals to your target demographic. For example, a company selling workout gear should probably use a fitness influencer to reach people who are not only interested in fitness, but also trust that influencer for advice on the topic.
When selecting an influencer, remember:
- They should have a strong following and strong engagement
- Their followers should be members of your target audience
- Their values should be in line with your brand’s values
Not sure how to define your brand? See if it’s time to rebrand your business.
How much does influencer marketing cost?
Some national brands dedicate large portions of their marketing budgets to influencer marketing. Small businesses may be deterred from influencer marketing due to its implied high financial requirements. In reality, compensating influencers isn’t always a large expenditure.
So, how much does influencer marketing cost? The truth is, it depends. According to digitalmarketing.org, an influencer with 2,000 to 10,000 Instagram followers charges $75 to $250 per post on average. On the opposite end of the spectrum, Kylie Jenner is famously reported to make $1 million per sponsored post.
So you’ve debuted your influencers… now what?
Once your newly acquired influencers have posted their content, it is time to monitor how effective they really are. Key performance indicators (KPIs) vary across platforms, but it’s always about the numbers. Monitoring the number of likes and comments on the post, traffic to the page that you are promoting, and new followers for your business page are all basic ways to get an idea of the overall effectiveness of your influencer campaign.
Take Social Media to the Next Level with Liquid Creative
Serving Gainesville since 2007, our team brings fresh ideas and effective strategies to each of the social media accounts that we manage. We can help you implement a purposeful influencer marketing campaign that will maximize your ROI. Contact us to get started!
