Marketing is a key business function required to promote the products and services of any business to the target audience. And there are several ways to market your product.
Offline marketing methods such as newspaper ads, magazine ads, and more still reach the target audience. However, most people these days look for products and services online. Hence, online marketing is a critical element of any marketing strategy.
Online marketing is diverse, offering numerous options to choose from, including SEO, Google Ads, and YouTube Ads, to name a few. With the rise of social media platforms, there is a golden chance for businesses of all sizes to market their products online.
Yes, we are talking about influencer marketing, one of the leading ways to market your products and services on social media platforms.
Now, you may “like it” or dislike it, but influencer marketing has given tremendously good results to businesses of all sizes. But it has been especially true for small businesses. Influencer marketing gave small businesses a reasonably priced method to reach their target audience online. It helped such businesses to create a genuine connection with their target audience and boost their overall growth.
But, if you are skeptical about influencer marketing and whether it will work for you, keep reading the blog to understand the possibilities of influencer marketing for your business.
Determine the Values of Your Business
Before you jump to the conclusion of using or not using influencer marketing for your business, try to determine the values of your business.
If you choose influencer marketing, what business values are you trying to promote? Are you promoting your business ideology of sustainability and environmentally friendly products and services? Are you promoting the health benefits of your products or services? Are you promoting your business to be creative and exciting through your products and services?
Once you have your business values, you can find an influencer who aligns with those values. This will help you streamline your influencer marketing from the get-go.
Find the Right Channel
You find the best and most popular influencer to collaborate with. But you still aren’t getting the desired results and reach. The problem? You didn’t choose the right channel to market your products.
It is not just about choosing the most popular influencer; it is also about choosing the right social media channel. And to do that, you need to study your target audience. Find out which social media channels they follow the most. Which influencer is your target audience drawn to? Once you know this, you can choose the right channel and the right influencer to collaborate with.
Although there is a multitude of online channels to choose from, Instagram (stories and reels) still are the top choice of businesses and audiences to associate with. This is followed by Facebook and TikTok.
Determine Your Approach
If you have decided to go with influencer marketing, choose an influencer and the right social media channel, you now need to determine how you will approach the said influencer.
Micro-influencers are comfortable getting a direct message from you to discuss. However, some macro-influencers work with agencies, and hence you need to approach them via said agencies.
So, before you slide into influencers’ DMs, do your research, and find the best way to approach them for effective results.
You are giving the influencer enough power to promote your products and services. Hence, you must ask the required questions to make it an easy transaction.
Research all the influencers you have chosen. Ask them if they have previously promoted any products and services from any business locally or globally. If so, determine if these businesses are your competitors.
Talk about their fees and what other monetary investment you need to make to use their services as an influencer. You must know exactly what you will be getting in return for your investment. Also, try to determine whether you can get some “like” into actual sales of your products and services.
Trust Your Intuition
Social media is highly dynamic. Their algorithms keep changing at regular intervals affecting the overall performance of posts, stories, and reels. Hence, you must stay wary of any influencer who promises you results, engagement, and likes.
On the one hand, some businesses have benefitted from influencer marketing; on the other, some have been duped heavily. Hence, do your research on the influencer you choose before you collaborate with them. And trust your instincts at every step of the way.
As a business, we don’t really need to tell you this, but getting everything in writing is always a great idea.
So, when you start collaborating with an influencer, make a contract detailing all the terms and conditions of the business association. Legal contracts give a bit of power to both parties and avoid any chances of fraud.
Wrap it Up
If you are ready to work hard and determined to use influencer marketing to your benefit, you can follow the above guide to make the most out of this marketing strategy.
If you are struggling to market your products and services online or offline, you can get in touch with us at Keystone Executive Coaching. We have worked and trained several small businesses to understand and develop key business functions of marketing, finances, sales, human resources, and more. Our business coaches are highly passionate about driving your business in the right direction.