Influencer Marketing for Your Small Business
Influencer marketing is on the rise, in 2024 the industry was worth $24 billion, and that number is expected to grow to $32.5 billion in 2025, according to Statista. As the sector grows small businesses, can take advantage of the industry. Here are 5 tips to grow your small business through influencer marketing:
Graph of Influencer Marketing Market Size
1. Focus on the Nano
Influencer marketing can be an expensive strategy depending on where you look. That is why it’s important for small businesses to focus on nano-influencers (creators between 500 and 10,000 followers). These influencers can be cost-effective alternatives to their expensive counterparts. According to Shopify, nano-influencers can cost anywhere from $2-$250 per post, compared to micro-influencers (10,000-100,000 followers), who can cost up to $1,250 per post.
2. Do Your Research
Be sure to do your research when looking for the right influencer, the right person will properly represent your brand’s image while reaching your target market at the same time. A couple of things to keep in mind when looking for the right person are:
Location- is the influencer located in the same city/state as your business, for region-based businesses this is important, but if you want your business to reach new regions or go nationwide, this may not be as important to you.
Interactions- don't just look at follower count scout engagement rate and the number of comments your influencer is getting to better understand activity on their account.
Followers- be sure to look through some of your influencer’s followers one by one, be sure they properly represent your target market.
3. Reach-out and Incentivize
Once you’ve done the research and know who you’d like to partner with, be sure to craft the message to the creator. Appeal to their interests and ensure you’re offering a mutually beneficially partnership. Your initial message should incentivize a response and look to get the influencer on a call. If all else fails, be consistent, try to reach out on multiple platforms, you don’t want to be a nuisance, but you want to show you are interested.
4. Educate and Negotiate
Once you’ve gotten your chosen influencer on an initial call let them know all pertinent information on your company and potential partnership. This call should not be solely focused on recruiting but also learning if the influencer you scouted is a good fit for your brand. As, we said earlier this partnership should be mutually beneficial. On the call be sure to discuss all pertinent information; including but not limited to platforms to utilize, content in post’s, pricing, and more. If the call goes well, but the influencer is priced out of your range, feel free to offer alternative forms of payment, some ideas are:
Gift Cards- for your business or businesses your company is affiliated with.
Free Trials/Subscriptions- for service businesses or apps this a great option to ensure an influencer enjoys their experience.
Merchandise/Goods- for companies with physical products try offering free goods and gift them appropriately, it could end up in an unboxing video
5. Trust the Creative
Lastly, leave the creativity in the hands of the creative. You hired them for a reason now utilize their skillset. Answer any questions they may have, and give guidance where needed, but if you want your content to perform best, leave it to the professional.
Now that you have all our tips and tricks go out there and take advantage of this growing industry. For more information on the best digital marketing practices, be sure to check out Pursue & Persuade’s socials and our other blog posts!