Startups and Influencer Marketing
Starting a new business can be exciting and challenging at the same time. It’s important to choose the right marketing tools and strategies to derive maximum returns from the target audience in the shortest possible time. Entrepreneurs of startups and small businesses have very limited resources and cannot afford costly traditional advertising and ad campaigns. The best fit for them are Influencer Marketing activities. In this article, we’ll dig deep into the subject and explore exactly what is influencer marketing used for in startups, the associated benefits, and tips to get the most out of it.
What is Influencer Marketing?
Influencer Marketing is an innovative promotional strategy wherein potential buyers are influenced by the messages shared by popular online celebrities or influencers. Popular social media influencers have millions of followers, who have faith in their advice and suggestions. These influencers could be blogger, celebrities, journalists, web stars, social media experts, and practically anyone who has a dedicated following in the digital space.
The basic idea is to tap into the power of these influencers and let them promote a brand or a product to their followers in the form of content such as reviews, opinions, posts, and discussion. A relevant influencer can create an instant impact and generate valuable attention for a particular startup.
Benefits of Using Influencer Marketing for Startups
- Reach Out to New Audience:
The biggest benefit of using influencer marketing for startups is the opportunity to cross-pollinate and increase the reach of the target audience. The influencer’s followers will be exposed to the brand or product, resulting in the creation of a larger and better customer-base. This helps startups to break out of their circles and get maximum potential buyers.
- Authentic Feedback:
Influencer marketing can also be used to obtain feedback about the products or services offered by the startups. The influencer’s followers will be more objective and authentic with their opinions, instead of the propaganda created by a startup. This gives startups an honest take on how the target audience is responding to their product.
- Builds Trust:
Promotional messages from a well-known celeb or influencer helps to build trust amongst the followers. Peoples’ trust in the influencer is automatically transferred to the promoted brand or product.
Tips to Get Maximum Returns Out of Influencer Marketing
- Research:
To get the right influencer on board, the startup needs to begin with extensive research. The chosen influencer should have a large circle of followers and the followers should have high levels of engagement.
- Set Clear Goals:
It is important to first define what long-term and short-term goals the startup tries to accomplish through influencer marketing. Draft these goals in a SMART way. Further, it is important to define a budget, target audience, and KPIs that need to be achieved.
- Collaborate:
The collaboration between the startup and the influencer should be based on a mutual understanding of expectations. The influencer’s content should be original and creative and must fit the ethos and culture of the startup. This will create more value for the influencer and the startup.
- Measurement and Analyse:
Startups should monitor the influencer’s performance regularly and measure the results with the pre-defined KPIs to assess effectiveness. Monitoring the campaign over time, analyzing the data, and collecting real-time insights can help in improving future influencer strategies.
Influencer marketing is an effective marketing strategy that can be used by startups and small businesses to expand their reach, interact with their target audience, build trust, and get honest feedback. Startups should take the time to find the right influencer who can ensure successful campaigns.
