Growing your business with influencer marketing
The aim of almost every business is to reach more customers so they can drive more sales so they can make more money.
When any business is set up, the first thing that comes into mind is how that business can reach more people so these people will turn out to be paying customers.
Businesses have been trying various marketing strategies and some of these strategies may have worked for such businesses.
All forms of advertising a business comes with its own advantages and disadvantages and some have proven to be more effective than others.
Many business owners or entrepreneurs and even startups keep playing around with or try different methods of advertising to see which of the methods they have tried reached more people and brought in more paying customers.
Some common advertising practices used
Some of the common advertising practices that are used by most businesses will be explained in this section.
TV Ads and Radio Ads
Most companies choose to run advertisements that run on TV and on radio. For these types of people they believe advertising on TV or radio would work better for them.
This type of advertising is one of the most commonly used methods of advertising in most businesses and has been seen and been proven to get the suits those businesses need.
Other businesses chose referral marketing as a way of letting their products reach a lot more people. With this type of marketing the individuals are recruited so they can get more sales and earn a percentage of the sales.
This type of marketing is almost similar to influencer marketing but in this case the referral marketers are mostly not the influential people in our society they have to worker harder so they can reach more people who will be interested in the products they are marketing
The new twists: Influencer Marketing
Influencer marketing has become the one of the best ways businesses can use to market their products to reach the particular types of audiences they intend to reach.
Influencer marketing can be in the form of hiring celebrities such as actors, musicians and other famous people to endorse their products. This normally follows with tv and or radio ads.
The main advantage of this method is that it is truly effective and businesses would be able to reach their target audience easily. For instance, a business that is based on making baby products could hire a celebrity loved by most young women or young mothers to be an ambassador for their products.
Also, that same business may hire a celebrity who is also a mother to help market their product if it reaches other mothers who love and follow that celebrity.
The down side of this process is that the business would have to incur a higher initial cost of advertising since this would involve the hiring of a celebrity. They may also incur more initial cost if they even go further to use tv and radio ads and even billboards.
Achieving more with influencer marketing.
For business to achieve more riots with influencer marketing, business looks out for the different types of influencers out there and comes out with a better strategy to use the influencer they chose to market their products and so they drive more sales.
Type of influencers.
There are mega influencers, macro influencers, micro influencers and nano influencers,
These different types of influencers may be famous for different reasons. Some may be celebrities (actors, musicians, etc), some may be the insta famous people, some maybe YouTubers, others may be bloggers while others may be famous on different social media platforms.
These types of influencers may be famous because of the different niche they represent or are known for.
Some may be known for posting about fashion, others may be known for posting and commenting on travel, entertainment, sports, social issues, and so on.
For a business owner who wants to go into influencer marketing they must first consider if their business can afford the type of influencers they are going in for.
Types of influencers- The break down
These are mostly those types of influencers that have over a million followers on their social media. These types of influencers are associated with the celebrities who have millions of followers. These mega influencers mostly have a loyal fan base so they achieve a higher engagement rate on each of their social media posts.
For these types of influencers they are followers who constantly want to know what their favourite person is up to and this gives rise to them having a higher engagement rate on every social media post.
Can you think of any mega influencers???
For these types of influencers, business must be will to pay over a million dollars per one sponsored post.
These are the types of influencers who have over 100,000 to a million social media followers. They mostly consist of up and coming stars and ordinary people who have been famous due to the interesting contents they share on their social media platforms.
These types of influencers do not cost as much as the mega influencers do but they do cost more than what the remaining types of influencers may charge.
These are however those types of influencers that have social followers between 1000 to 100,000. These mostly consist of people who post interesting contents on social media and have been able to amass their following through those interesting contents they post.
These are however the up and coming influencers or ordinary people who have social media followers to up to a thousand people. These types of influencers do charge nowhere near what the other types of influencers would charge but some believe they can be more effective to hire than the other types of influencers.
This is mostly because nano influencers would normally have followers who are 100% genuine.
Most of them have followers who know them personally and genuinely follow them out the love or friendship they share.
People argue that nano influencers are able to achieve more and honest results due to this. Also they are able to achieve more because they would work twice as harder than the other types of influencers.
How businesses can grow with influencer marketing
The first thing a business needs to consider after they have decided to use influencers to market their business is the type of influencers they would want to hire.
If they want to go in for mega influencers they must have at least a million dollars ready.
Working with the other types of influencers could also mean the business would reach more people with less amounts of money as considered to mega influencers.
For instance if you choose 5 macro influencers with at least 100,000 followers to market your product, your product would have the post entail to reach over 500,000 people and this could cost less that what one mega influencer world charge
There are more influencer marketing agencies springing up these days so businesses can contact them if they are looking into influencer marketing due to its effectiveness.
If a business chooses to work with nano influencers for instance they could even provide them with free products as a form of payments for them to market that product.
Business can even organise giveaways using influencers so their products can begin to trend.
There are also quite a number of businesses who have been able to achieve more results using this type of marketing since it is a better alternative that has changed face marketing.