Marketing is all about creativity and utilizing everything at your disposal. It’s all about thinking outside the box and getting as much attention you can under a small budget. Marketing is all about evolution, showing people that you can market yourself given enough time and knowledge.
Marketing is Evolving
Marketing is one of the fastest evolving industries in the world. There are millions of companies that rely on their marketing to succeed. Before, this used to be an industry meant for the most prominent companies. Still, because new marketing strategies are invented every day, even small businesses can market themselves with only a meager budget.
As a small business, it’s up to you to take advantage of this evolution in marketing. If you don’t know where to start, influencer marketing might be a good choice for you. It’s one of the trending marketing strategies right now and one you should try out for your small business. Here’s everything you need to know about it.
What is Influencer Marketing?
Influencer marketing is a kind of marketing that’s subtle and utilizes internet celebrities (also known as influencers) to promote your products and services. Currently, many marketers are expecting this form of marketing to have an increase in budget. This expectation is quite true because it is one of the most famous forms of marketing in the digital world today. However, it’s also one of the cheapest, depending on the kind of strategy you implement.
This kind of marketing also utilizes social media sites. Many argue that influencer marketing is a form of social media marketing, but it’s not. Influencer marketing is all about the influencer and not their platform. An influencer will still be iconic, regardless of the platform, making this a more robust form of digital or online advertisements. If you want to succeed as a business, you need to give this marketing strategy a try. Trust us, it will propel your small business into an industry leader in no time.
Like many types of marketing, influencer marketing has various sub-types. The two main sub-types are micro and macro influencer marketing. Each has its distinct strengths and weaknesses, and when utilized to its fullest potential, you can reach almost any consumer in the world.
Micro-Influencers
Micro-influencer marketing is getting tons of attention right now. Big conglomerates, especially in the billion-dollar gaming industry, utilize micro-influencers to promote their products. They are much cheaper than macro-influencers and have a higher rate of growth.
Essentially, micro-influencers have a follower count of around 100,000 on social media. These influencers tend to be cheaper, have better concentration on a particular demographic, and are more passionate about the product they promote. It’s because the product or service they promote will also determine their growth into the future.
The features of micro-influencers are also the main reason they are such a great option. Micro-influencers won’t cost you that much when compared to macro-influencers. If you want your product to be attractive to a specific demographic, they’re the best choice because they are more in touch with their followers. For a small business like yours, micro-influencers can make a difference.
Macro-Influencers
Christiano Ronaldo, Ariana Grande, Kylie Jenner, there’s a good chance that all of these names sound familiar to you. You’ve seen them on every social media site. They have millions of followers, and to a certain degree, their word drives millions into buying a certain product. These are macro-influencers, and they’ve grown much more prominent than before.
Unlike micro-influencers, macro-influencers have a wider reach of followers, which means concentration is a problem. Moreover, they are far more expensive because of their fame, with someone like Christiano Ronaldo charging companies a million dollars for a single mention. That’s insane, but when utilized well, they can give you millions of loyal followers in no time.
Utilizing Them the Right Way
Utilizing both micro and macro-influencers is key to the success of your marketing. Essentially, you’d want to get a macro-influencer to get people to know about your product. Don’t aim for some celebrities like Ariana Grande. Instead, look for those with about 500,000 followers or a bit more. They’ll still charge you a lot, but it’s worth it if you can get 500,000 people knowing about your product.
Once you do this, you then transition to micro-influencers. Micro-influencers are far cheaper, so this means you can hire more of them. These individuals can then help you build your brand and customer loyalty. The more they promote your product, the more their followers will be interested.
This is just one way to utilize influencer marketing for your small business. Trust us. There’s a good reason why marketers are crazy for it right now. It’s a strategy that works well, regardless of your company’s size.