Microinfluencers are social media users with smaller but more engaged followings than traditional celebrities or influencers. They typically specialize in a particular niche, and their followers trust their recommendations.
Microinfluencers started rising in popularity around 2016, as businesses began to realize the power of working with them to promote their products or services. Working with microinfluencers doesn’t require a huge marketing budget, but this type of marketing has been proven effective time and time again. Should you need extra funds to start your business’s microinfluencer marketing campaign, you can turn to loans.
For example, online lending platforms like LendGenius.com provide short-term or installment loans for borrowers of varying credit histories. Many businesses use digital lending platforms like these to gain capital, particularly if they haven’t had much luck with traditional lenders like banks and credit unions.
That said, there are several things you can look for to see if your business could benefit from cooperating with a microinfluencer. For example, if a product you sell requires an explanation or demonstration, or if you’re targeting a specific niche market, working with a microinfluencer can be highly beneficial.
Things to Consider When Negotiating a Deal
You should also keep certain things in mind when negotiating a deal with a microinfluencer to make it a success. Here are seven of the most important things you must consider:
- Make sure there’s a good fit between your brand and the influencer’s niche. Microinfluencers have a very specific target audience, but there’s not much sense in working with an influencer who doesn’t have an engaged audience that’s interested in what you’re selling.
- Don’t try to control the influencer too much. Remember that they’re trusted by their followers for their recommendations, so letting them have some creative freedom will likely result in more effective promotion.
- Be clear about what you expect from the partnership, and make sure the influencer is on board with your goals. There’s no use working with someone if they’re not committed to delivering results.
- Be ready to pay a fair price for the influencer’s services. Keep in mind that they’re providing you with valuable access to their audience and that their time is also valuable.
- Make sure you have a solid plan for how the partnership will work, including what kind of content will be created and how often it will be posted. That will help avoid any confusion or misunderstandings down the line.
- Don’t forget about the legalities! Ensure you have all the necessary contracts and permissions in place before moving forward with any promotion.
- Finally, don’t forget to measure the results of your partnership so you can assess its effectiveness and make any necessary adjustments.
Budgeting Tips For Running a Microinfluencer Marketing Campaign
Anyone who’s ever run a marketing campaign knows that budgets can be tight. But when you’re working with microinfluencers, you don’t need to break the bank to see results. Here are a few budgeting tips to keep in mind when running a microinfluencer marketing campaign:
- Start by identifying your goals for the campaign, as this will help you determine how much to spend.
- Make a list of potential influencers to work with, and research their rates.
- Decide what kind of content you want to create and budget accordingly.
- Allow for some flexibility in your budget so you can adjust if necessary during the campaign.
- Keep track of your spending throughout the campaign, and assess the results afterward to see if it was worth the investment.
Tips on How to Evaluate the Success of Your Microinfluencer Marketing Campaign
You’ve worked hard to identify and partner with microinfluencers who align with your brand, and now it’s time to see if your campaign was successful.
- Check if there was an increase in brand awareness or reach as a result of the campaign.
- See if there was an uptick in sales or website traffic during the campaign period.
- Compare the engagement rate of your posts before and after the campaign to see if there was an improvement.
- Ask your customers or followers directly if they noticed or remembered the campaign and what they thought of it.
- Conduct a post-campaign survey to get feedback from both influencers and consumers.
Microinfluencer marketing can be an extremely effective way to promote your products or services, but it’s important to do it right. Keep these suggestions in mind, and you’re well on your way to a successful campaign!
Hugh is the creator of the content at LendGenius.com. During his five years of working as a small business loan consultant, he helped his clients make the right financial decisions to grow their businesses. On this website, Hugh gives helpful tips and advice on personal finance and budget management.