Money Market

June 7, 2022

Promoting products, services through influencer marketing

Differentiate your product with Price, Place

The Marketing Masterclass

with Uju Obuekwe

In recent years, social media has become one of the most important tools for marketing a small business because it allows businesses to connect with customers and prospects in a way that was not possible before. But as social media has become more popular, it has also become more crowded.

This has made it difficult for small businesses to stand out in a sea of posts. Internet users are also spending more time online. With increased exposure, users report a loss of interest and a lack of trust with digital ads.

But there’s one way to cut through the noise and that’s through influencer marketing.

This is a form of marketing where businesses partner with influential people to promote their products or services. Here, we are not referring to celebrities that have considerable influence over the population, but the use of ordinary men and women to market products. They don’t even need a really large following on social media or elsewhere.

Some examples are food, travel, lifestyle, fitness, finance bloggers, vloggers, with a tribe of followers on social media and online. From Nano-influencers with 10,000 followers or less to Micro, Macro and Mega-influencers with 1 million+ followers.

Small businesses are now turning to influencer marketing as a way to create awareness for their brand and products. Research shows that 92 percent of marketers have used influencer marketing and found it to be effective. Patricia NG, CEO Hanu Fejiro Agbodje, recalls how using a micro influencer led to an immediate upsurge in the number of transactions and clients the company achieved.

Influencer marketing is becoming increasingly popular because of its cost effectiveness and ability to reach the target audience. It leverages the trust and credibility of an influencer to drive sales and create awareness for a brand. The power of recommendations cannot be underestimated when it comes to shaping purchasing decisions. Studies show that at least 49 percent of customers depend on influencer recommendations in making their buying decision.

Small businesses can get started by finding and partnering with the right influencers who already have an audience of similar people interested in their product or service.

To find them, do a keyword search on terms related to your business. Then, take a look at the bios of the people who come up in the search results to see if they are a good fit for your business.

Many variables can impact the effectiveness of a marketing influencer campaign. Be careful to select an influencer who has proven their worth within their niche and verify that an influencer’s customer base suits your campaign’s target market.

Once you have found micro-influencers to partner with reach out to them and see if they would be interested in working together.

It is important to find the right influencers who are willing to collaborate with you, and create content that will interest their followers. By using influencer marketing, you can improve your brand’s visibility and get your brand seen by the right people, increase sales and grow your brand.

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