Since the coronavirus pandemic which led to the global shutdown, not only did businesses continue through the power of the internet, new business ideas formed and despite the lockdown, they thrived. How did these new ideas get so much attention and spotlight? The answer? BRAND INFLUENCERS.
Associating your business with known brand influencers is a strategy major big brands use to promote their products and services. As a startup, you are still unknown and using brand marketing is a great way to help you reach more of your target market and get more customers.
The right brand influencers would definitely help your business achieve a great ROI and here are some facts from a survey carried out:
- In 2017, 86% of marketers used influencer marketing and a vast majority found it to be effective
- Influencers recommendations are taken on trust by 49% of consumers while patronizing a product/service
- About 40% of Twitter users mention that some of their purchase was based on the tweet from an influencer
- Compared to other forms of marketing, influencer marketing propels 11 times more ROI
- Businesses get $6.50 in return for every $1 spent on influencer marketing
With these statistics, it is quite obvious how much startup businesses stand to gain from influencer marketing. So how can one get these brand influencers?
- Find the right type of influencers who are ideal for your business niche. Using tools like Grin can make this easier for you
- In choosing influencers to partner with, be sure to see their relevance to your business and do not get carried away by the number of followers on social media. This number may not be interested in your message.
- In exchange for reviews and recommendations, offer free products or services to influencers especially when you are on a tight budget
- Instead of going for the big and well-known influencers who have millions of followers, you can start with a micro-influencer whose following may not be as big but are more loyal. Influencers that have a following of about 1000 – 100, 000 is considered a micro-influencer and because they have a more targeted audience whom they always engage, it serves your business better.
Join the bandwagon of smart entrepreneurs who tap into the high rate of success brought about by influencer marketing. I agree so much with the words of Seth Godin, “People do not buy goods and services. They buy relations, stories and magic” and Malcolm Goldwell seals it up by saying, “There are exceptional people out there who are capable of starting epidemics. All you have to do is find them”.