Influence Marketing is such a hot topic right now. Big, global brands to local brick-and-mortar business are all trying to take advantage of the power Influencers have in the purchasing behaviors of today’s consumers. Just how powerful are they? 71% of consumers are more likely to make a purchase based on a social media reference. Plus, consumers are more likely to trust the opinion of an influencer than a brand or company itself. So if done right, Influencer Marketing can have a huge impact on your businesses bottom line.
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If you’re not familiar with the term Influencer, these are individuals who have a following in a particular niche, which they actively engage with. The size of their following and the impact this individual has depends on the size of the niche, and his/her knowledge, position or relationship with his/her audience.
It’s important to not just look at Influencers as marketing tools but relationship building assets – after all, Influencer Marketing is a form of Relationship Marketing. You’ll want to spend some time getting to know this individual to make sure you’re working with an influencer who fits in with your brand values. The last thing you need is for something negative to happen and it rubs your current customers the wrong way and it ruins your reputation.
Once you do some research on potential Influencers you’d want to form a partnership with. We recommend you think about these three things before working with an online or local influencer:
- Alignment – is their audience your potential customer? Do they align with your brand/store image?
- Compensation – how are you going to pay them? Do they want to be paid money or be given free product?
- Exclusivity – are they going to work exclusively with you and not other stores like you in your area?
Another thing to note is you want the Influencers you work with to bring you quality leads/ customers. They don’t need to have 100,000+ followers to have a strong social media presence, sometimes the ones with few follower counts known as Micro Influencers can bring you better quality sales.
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