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Influencer Marketing on a Budget: New Tactics for 2017

February 09, 2017

By Dakota Shane

Lately, there has been a lot of talk about influencer marketing. Many are calling influencer marketing one of the biggest marketing trends of 2017.

Currently, influencer marketing is typically available only to those with huge budgets to blow. As a result, small business owners are often left assuming they cannot afford the marketing trends they read about online.

Despite there being a lot of coverage around micro-influencers (who cost far less than standard influencers), there have not been many resources explaining how those with smaller budgets can utilize influencers effectively.

In this article, I wanted to do just that. Let’s dive in…

Utilize Micro-influencers, Preferably on Instagram

Markerly, an influencer marketing platform, conducted a study examining over 2 million social media influencers. They found the engagement rate of micro-influencers to be 2X higher than those with 10k to 100k followers, and 4X higher than those with 100k+ followers. In short, even if you don’t have the budget to run expensive influencer campaigns or have Beyonce shout out your shoe company, you’re still in luck thanks to micro-influencers.

To identify and connect with influencers in your industry or city, use tools like Klear, which lists out relevant influencers based on a variety of criteria, and see if you two can work together. If that does not work for you, you can never go wrong with a Google search.

Get Liberal with your Definition of “Influencer”

The definition of an influencer is anyone who influences a member of their audience to take an action. If you are unable, why not get a little creative here? Here’s an example: Shameless confession: I’ve spent some time as an Uber driver. The amount of times I received the question, “Where is a good spot to eat around here?” or “Which clubs are worth going to?” is outrageously high.

If you’re the owner of a cafe, bar, restaurant or a similar business, consider hosting a night/day where Uber & Lyft drivers get 25% off. Then, befriend those who show up and let them know you’ll compensate them (either with money or freebies) for every x amount of people they bring into your business. To track this, have their passengers say “Rachel, the Lyft driver, told me about you.” etc.

Begin thinking creatively on how to reach audiences and potential clients where they’re already at. Once this “clicks”, the possibilities are endless when it comes to generating awareness for your business.

Pay with Your Resources

You don’t always have to pay them with money. Leverage the resources available to you, even if they aren’t monetary. If you are a local bar, why not give the influencer a free round of drinks for her and her friends? If you are a clothing brand, why not a couple free t-shirts?

Of course, many influencers do require monetary compensation, as they should for their hard work, but there are …read more

Source:: Social Media Explorer