How to Get The Most Out Of Influencer Marketing On A Tight Budget

You need to adapt to the current trends in the industry to reach your optimum consumers and ensure they engage better with your brand and for this to happen you should have an effective marketing strategy in place already. Presently the consumer is drowning in a deluge of advertisements and sponsored content everywhere and this has caused them to be more aware of when someone’s using their marketing spiel on them. Because of this brands are forced to get their creative juices flowing and to think outside the box before getting their brand in front of the consumers.

When done right, Influencer marketing can work as a bona fide means of promotion. Consumers follow influencers (social influencers, bloggers, thought leaders, etc.) and they look to these influencers for recommendations on products, tips, tricks, trends etc, that is the norm everywhere. But it doesn’t mean that the only way to market your brand or product is through celebrities and social influencers with millions of followers who will charge quite a packet for a social post. You’ll need these tactical ways to leverage influencer marketing if you’re a tight budget and don’t want to overstretch yourself. Here’s how you do it:

Micro Influencers

An influencer who has a devoted following of 10k-100k, one who is a trusted source in their industry is called a micro-influencer. The authenticity of the posts is appreciated, even though their followers look to them for product/service reviews or recommendations more so because we live in a world where brands are constantly pushing content down the consumer’s throats.

Most likely micro influencers might charge a small or nominal fee or no fee in exchange for a product, depending on the case. Now might think that having influencer with a large number of followers is the only way to proceed, but it is not so. Markerly conducted a study where they analyzed 800,000 Instagram users; the results showed that “as the number of followers per user increased, the rate of engagement decreased.”

The benefit of using micro-influencers is that they are much more likely to actually try your product or service, and then carry on the conversation or advertise to their followers online and thereby influence potential buyers into making a decision to purchase.

The Spider Effect

Now if have a tight budget and the amount dedicated to influencer marketing is quite low, you’d definitely have realized by now that partnering with a celebrity influencer is not possible. Yet, you’ll need to utilize these funds in as best as you can. Well then, you could try a spider effect, which means spread posts from various micro-influencers across several different platforms like Instagram, YouTube, or blogs that are owned by different, inexpensive micro-influencers; instead of aiming for one post from a celebrity influencer who’s not in your budget causing you to lose money. 90% of micro-influencers charge brands quite less to write posts and this will not only keep you afloat mindful of your budget, but it might even save you some money!

Social Influencers with Blogs

Targeting social influencers who have a blog or bloggers with a strong presence on social media is another efficient way to capitalize on your influencer marketing efforts. The possibility of your product or service that is featured on a post ending up on more than one of their platforms is quite likely if the influencer is prominent on both. Securing a link to your website on a blog is possible and quite easy, but you may not be able to on Instagram, but your SEO efforts will be impacted positively irrespectively.

Get more liberal, redefine “Influencer”

We’ve already gone through the regular, Wikipedia reiterated definition of the term “Influencer”. Anyone who influences a member of their audience to take an action is called an Influencer. And not all times are the same and maybe you’ve been unable to find an influencer to endorse your brand or product, well then, a little creativity is the magic that is necessary here. For example, Most people would ask their Uber / Ola driver about the best spots to eat around here or in some cases the most popular night clubs which are worth going to.

If your business is a cafe, bar, restaurant or a similar business, then you should consider hosting a night/day where Uber & Ola drivers get some good discounts. Then, befriend and get to know those who show up and approach them with the proposal of compensating them (either with money or freebies) for directing people or bringing into your business. Of course, this has to be tracked, you could get conned so ensure that the customers come in with passes or pamphlets handed over to the customer.

Get that noggin of yours thinking creatively on how you can reach the audience and potential clients where they’re already at. All you have to ensure is that this method “clicks”, and once that’s accomplished, there’s endless potential when it comes to generating awareness for your business.

Pay with Your Resources

Now after that unfortunate lecture, I’ve still got a few bits of advice. Payment doesn’t have to always involve money. The available resources should be leveraged, even though they may not be monetary. You could try buying a free round of drinks for the influencer and her friends. Why not give a couple of free t-shirts, especially if you are a clothing brand? Incentives go a long way in winning people over to your side.

Relationship Building

Build a relationship that will last longer and will be mutually beneficial – that is Public Relations 101. Treat your influencers like you would a media contact, your relationship will develop where you can keep on working together on campaigns and promotions frequently. It is much more likely that Micro-influencers will work with your brand on different campaigns over a period of time, and it probably may not cost you any extra money. For example, it’s probable that the influencer may be open to promoting multiple products or different promotions for the same thing. The influencer that you’ve partnered with while promoting a product as part of a holiday gift guide, may also promote the same thing for Mother’s Day. Micro-influencers who truly approve of and believe in your product or service might even be open to promoting collaborating over a period of time even when you’re running some sort of promotions like special sales, promoting discount codes or giveaways.

Use these methods or modify your existing methods to save yourself from spending a fortune on Influencer marketing. As we’ve mentioned before Influencer marketing can prove to be very lucrative for your business if done right, and following these tips above there’s no way that won’t be doing it right! So save yourselves some money, build and nurture relationships with some great micro influencers and in no time, word of your brand or product or service will spread like wildfire and you’ll have more conversions and purchases happening than you’d ever anticipated.