Steps to Grow Your Business with Influencer Marketing

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By Andie Davis, LCI

Let’s face it, out with the old and in with the new is an understatement in today’s world.

With a plethora of information and content at our fingertips, we’ve gotten used to a rapidly changing online landscape. So, how do you break through the noise?

Currently, there are over 3.6 billion social media users worldwide. Statista estimates that by 2025, that number will reach a little over 4.4 billion. Considering the monumental shift toward social media and internet use, it would be silly not to take advantage of social media and all it has to offer, including influencer sponsorship opportunities.

According to a 2018 MuseFind marketing report, 92% of millennial consumers are more likely to trust an influencer endorsement over a celebrity endorsement. Those odds are in your favor if you want to improve brand awareness, reputation and, most importantly, growth.

Here is how you can grow your business with influencer marketing:

Determine your budget.

Influencers can post various types of content, but some cost more than others. You’ll want to come up with a content strategy that outlines what your key performance indicators are so that you have a roadmap for what kinds of deliverables and associated expenses are worth the cost – and will get the desired results. Keep in mind that influencers charge based on their follower count and the scope of work.

Strategize with authenticity in mind.

You’ll want to pick an influencer that shares similar goals and values to your brand. This alignment will set your partnership up for success. Not only will your relationship with your influencer be seamless, but also come across as authentic to their audience.

Research, decide, test and learn.

When picking an influencer for your business, it’s important to do some research to find the right fit. The types of influencers include nano-influencers, micro-influencers, macro-influencers and mega-influencers. I recommend starting with micro-influencers because they have an established niche of engaged followers. Plus, working with a micro-influencer gives your business the chance to test and learn what types of strategies and campaigns are most successful.

Target the right audience.

Your influencer’s audience should be your key audience. This will ensure that you’re reaching people that will be interested in following your brand and purchasing your products.

Put together a shortlist.

After determining your budget, strategizing and doing some research, you’ll want to compile a shortlist of influencers that post content relating to your industry and reach out to them. Be personable in your outreach and avoid sending mass emails at all costs.

Find the gaps.

Look at brands similar to yours that work with influencers. Who are they targeting? Are there any opportunities to reach audiences that your competitors haven’t tapped into yet? Take the road less traveled and find them.

Influencers can be a great way to help your brand stay relevant in a rapidly changing online environment. As Bob Dylan said, “The times they are a-changin’.” I think it’s time we change with them.

Related articles:

Five influencer marketing trends to look out for this festive season, Financial Express

Want To Partner With Micro-Influencers? 14 Key Things To Keep In Mind, Forbes

Influencer Marketing Guide: How to Work With Social Media Influencers, Hootsuite