What Is Influencer Marketing?

influencer marketing

Are you taking advantage of influencer marketing?

Heck… do you even know what’s meant by that phrase?

We are bombarded every day with ads, and they hit us from everywhere; billboards, print media, buses, elevators, email, and the internet.

Yep, that’s a lot of money being spent every day to capture the attention of prospects. And more and more people aren’t trusting these ads.

So, how does a small or mid-sized business reach that sweet spot; the perfect balance of delivering your message while obtaining the most important, yet often elusive element of trust? Influencer marketing has the advantage of offering potentially huge benefits to the small business owner, at little to no cost.

What is influencer marketing?

The President of Word of Mouth Marketing Association, Suzanne Fanning, defines influencer marketing as the practice of contacting a small group of individuals to reach out to the rest of your prospects. The concept is that if you effectively reach ten percent of your prospective clients who know, like and trust you, they will spread the word to the other 90 percent on your behalf.

True, this is not a new concept, but has been largely overlooked by many business owners.

Influencer Marketing, simply put, is word-of-mouth. And we all know that a referral is the best kind of business you can obtain. To have someone who already trusts you, recommend you to their circle of influence, will provide you with more real business, not just ‘tire-kickers’.

Be smart about your marketing. Never assume that spending large amounts of money will reap huge rewards. Imagination, creativity, and demonstrating trustworthiness beats out a large advertising budget every time.

So don’t overspend on advertising. Yes, advertising is important, and yes, you will have to spend some money. But without a strategy, a budget and a workable plan, you will spend more than is necessary. And by introducing influencer marketing into the equation, you are inviting engagement.

Every single person you reach is a potential influencer. Therefore, make sure that you are participating in meaningful exchanges with everyone, and never overlook anyone. And don’t get hung up on how many followers or likes you have on social media platforms. The more important thing is the conversations and the engagement you are having with these folks.

Find out what people like about your products or services. How do they use them? A happy, satisfied customer is the best influencer available.

Consider a giveaway, such as a coupon or a sample, to encourage organic growth of your brand. Use humor when appropriate, and make sure your information is sharable. Deliver an authentic experience to every person who comes in your door or visits your website. By offering something of use to your target audience, you help build authority and trust, making it easier for them to do business with you or refer you to someone they know.  Gain valued advocates of your services or products.

As you can see, influencer marketing can be the most effective, yet least expensive, form of marketing. And it has proven itself to be the best way to grow a small business. In fact, according to a Nielsen report, 92 percent of men and women trust the advice given by friends and family over all other types of advertising. All you need to do is deliver products and services that result in happy customers, and ask them to reach out to their friends and family.

Until next time…

Are you ready to grow your business now? If you’re ready to take the next step and make your business more profitable, contact us today.

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