Influencer marketing is helping millions of brands worldwide in achieving their desired ROI as well as adding a great deal to their branding and communication activities. Global brands like Coca-Cola prefer roping in celebrities for their influencer campaigns, forming it more like a celebrity endorsement activity on a digital platform. But what we need to understand is that digital celebrity endorsement is just a small subset of influencer marketing. Moreover, not all brands have a budget to afford celebrities to advocate.
Influencers do come in all shapes and sizes. Industry specific influencers may not be celebrities, but they have the reach to the right audience and they successfully drive optimum engagement among the audience. These are the quintessential parameters that matter to a digital marketer. Here lies the key to success for small scale businesses and especially, start-ups. There are multiple ways influencer marketing can come in handy for start-ups to create a solid impact on the market.
#1) Working with budget constraints
Funded or not, start-ups are usually tied up with strict budget constraints. Influencer marketing is the perfect way to reach out to the most relevant set of the audience using the money in the bank, no matter how less it is. Additionally, you may very well land up with an even better deal if you can showcase some ace negotiation skills. Unlike automated PPC tools, influencers are people and thus, are eligible for negotiations. Though chances for negotiation are one out of thousand. Read how micro-influencers can help.
#2) The lack of proper benchmark
One of the major worries for start-ups, despite extensive market research, remains to be a lack of proper benchmark. Influencer marketing may just be able to negotiate this to some extent. A proper study of influencers may help you, more often than not, to figure out an accurate estimate for the success of your campaign. More so, with the help of leading influencer marketing agencies, like Greenroom, who rely on a lot of data, the job gets much easier.
#3) Engaging with the relevant customers
Influencer campaigns are the right way not only to reach out to the right set of audience but also to engage with them very positively. One of the most problematic areas for social media marketing is to generate engagement, and for a start-up, it even more difficult. Influencers naturally get to generate a lot of engagement among their followers. Hence, spreading the word out through these influencers is going to help you reap some really good benefits.
#4) Generating effective content
Generating effective content and then driving some good volume of traffic through them has been a tough part for most start-ups. While working with influencers, however, you can get them to generate content for your branded post. More often than not, it proves to be a wise practice because of the fact that the influencers know the pulse of their followers better than you and thus, can generate a more relevant and engaging piece of content. Through their already established blogs, they can also provide you with some really valuable backlinks. Know how influencer marketing can boost your SEO.
#5) Boosting brand awareness
The most prized element that influencers rest on is the trust factor of the followers. They are literally opinion leaders of the niche market they cater to. Naturally, when these people speak for your brand, people not only get aware of your brand, but it also enhances the authenticity of the brand. This has a direct effect on your sales as well.
These were just a few elementary benefits that start-ups can hope to extract from influencer marketing, provided they do it in the right way. But there’s a lot more to it.
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