Micro-Influencer Marketing: 10 Reasons It Makes Sense

micro-influencer marketing

micro-influencer marketing

Over the last couple of years, micro-influencer marketing has grown exponentially and that’s simply because it works. Though, you might still be wondering how and why. First, let’s start with what exactly a micro-influencer is.

A micro-influencer is an individual with a small but deeply engaged following. For example, this micro-influencer may have less than 20,000 followers on Instagram or only a few thousand on Twitter and Facebook. However, don’t let their smaller following deceive you; micro-influencers make up the majority of digital influencers and have significant influence over their audience.

Now that you’re up to speed, here are the top ten reasons why micro-influencer marketing is a valuable strategy for your business.

Micro-Influencer Marketing Is Economical

Micro-influencers are extremely cost-effective. This is because their rates tend to be lower than influencers with larger followings. Comparatively, larger audience influencers, known as macro-influencers, charge significantly higher fees for brand partnerships. While you may reach a wider audience with a macro-influencer, it isn’t typically worth the hit to your budget.

Micro-influencers are far more economical and should be considered as a key element of your marketing plan. For example, you could pay $15,000 for one macro-influencer for just one post, or, you could take that money and distribute it among 15 micro-influencers with a more engaged following, leading you to the next point.

 

They’re Perfect for a Groundswell Approach

A groundswell approach is where you reach as many people as possible through various outlets and build up from there. Micro-influencers are great for this type of campaign since they can create brand awareness amongst their following and seed the market with your product/brand.

Additionally, micro-influencer marketing campaigns create a lot of exposure to your brand through repetition and, if you use multiple micro-influencers, your product will make itself known through multiple avenues.

 

They’re Experts at What They Do

If your marketing campaign is focused on content creation, then micro-influencers are your golden ticket. Simply put, micro-influencers create top-quality content often at rates that are cheaper than hiring a photographer. Furthermore, micro-influencers give the added bonus of sharing the content that they create. Whether you are looking for videos, pictures, multimedia, or written content, micro-influencers know how to create great content without breaking the bank.

 

They Have a Loyal and Engaged Following

Most micro-influencers have a loyal and engaged following because they’re still in their growth stages online, meaning, much of their audience is comprised of friends, family, people they’ve met, and people who are generally fans of their work and content. To compare, macro-influencers consistently have a far lower engagement rate.

For example, an influencer with 100,000 followers may only see approximately 1% of engagement from their audience, meaning only about 1000 people are truly engaging with the influencer’s content. On the other hand, a micro-influencer with only 15,000 followers and an engagement rate of 5% would expect to see 750 people engaged with their content. The cost of the micro-influencer is far better, especially when you consider that you’re engaging nearly the same amount of people .

 

They’re Reliable and Personal

A micro-influencer is able to engage with their audience more than a macro-influencer and, as a result, can be more authentic and personal with their viewers. This is one of the reasons why micro-influencers have higher engagement rates; they’re able to share more of their personality, style, and aesthetic with their audience. For this reason, micro-influencers are often viewed as more trustworthy than macro-influencers.

Additionally, high-profile influencers tend to work regularly with various brands and over-saturate their audience with paid advertising projects. Micro-influencers are typically looking to grow their community and are more readily available to interact with followers both online and offline. On the contrary, influencers with large audiences are not able to engage in the same way with their audience, since they can often seem more like a celebrity, which creates a barrier between themselves and their followers.

 

They’re Ambitious

Micro-influencers are great to work with since they will typically go the extra mile to impress a client. More often than not, they are grateful for the opportunity to take on advertising projects with brands that appreciate their work.

They are also more available in terms of responding to email and private message communication as they have fewer messages to respond to and likely won’t have a talent manager fielding messages for them. This means that it’s easier to build meaningful relationships with micro-influencers and have in-depth conversations about your advertising vision.

 

Micro-Influencer Marketing Is Great for Small Businesses

Bigger companies often have bigger budgets and can typically work with whoever they want. For this reason, big brands tend to overlook micro-influencers. While big brands are off chasing celebrity influencers, small businesses have the opportunity to work with more engaged and authentic micro-influencers.

The good news is, no matter your budget, you will have the ability to compete in the market, even up against big brands. At Vetterview, you can work with an influencer for as little as $20 USD. If you’re growing your business, micro-influencers are the perfect option to get started on your influencer marketing path and to achieve excellent results.

 

They Have Niche Audiences

Micro-influencers often have a small community of followers that share similar passions and interests. Their niche following tend to have the same preferences in content style and share a similar demographic profile. If you have a service or product that fits a micro-influencer’s niche following, then reach out! You’ll often have great results with a niche following, as long as your product matches their interests.

 

Micro-Influencer Marketing > Traditional Advertising

When it comes to marketing, traditional tactics, such as print marketing, are no longer the most successful approach in building brand awareness. To successfully drive product sales, launch a new brand/product/service, and generate positive PR, influencer marketing is the way to go.

Consumers are looking to social media, online reviews, and blogs when making their purchasing decisions. The internet is the first place they’ll go and they’ll do their research, whether that be a Google search, reading Facebook reviews, or searching Instagram hashtags, before they make their decision to buy a service/product. In these situations influencer content is critical in presenting your brand to curious consumers. Consumers will then make their purchasing decisions based on content from their favorite influencers.

 

They Get Right To The Source

There’s no doubt about it, consumers are more and more savvy when it comes to Adblock software (or just plain skipping through online ads on Instagram and YouTube.) To reach your target audience, you’ll need to get a bit more creative. That’s where micro-influencers come in. Influencer content is an organic post on social media, making it exempt from Adblock technology. Having micro-influencers introduce your product to an audience adds authenticity to the consumer experience and removes the feeling that your product/service is being forced upon them.

 

Ultimately, there is incredible power and value in the influencer marketing sphere, especially with micro-influencers. By incorporating these micro-influencers into your marketing plan, you’ll create a stream of consumer loving content to grow your business.

 

9 Small Business Marketing Mistakes That Hurt Your ROI

hurt your roi

hurt your roi

Part of having a successful small business marketing campaign is knowing the key elements that make up a marketing strategy. Often, some crucial factors are missed by small businesses. This can have a detrimental effect on the success of a campaign.

But, don’t worry. By being aware of these important elements, you can stay ahead of the game.  This ensures that you have the best strategy possible for your small business marketing plan.

With that in mind, here are nine vital pieces to a high performing marketing campaign.

Calculate Your Cost Per Acquisition Rate

Your cost per acquisition (CPA) rate is how much your business will spend to acquire one paying customer. Historically, knowing your CPA rate has been integral to knowing how lucrative a marketing channel is.

If your small business is still in the early stages of its life, you may not know what marketing channels will yield the best CPA rate. In this case, spread your budget out to try a few things. To get started choosing which channels are best for your market. You can try smaller “test” channels until you find the right ones for you.

Be careful, however, CPA creates a ‘race to the bottom’ mentality.  Generally, CPAs are intended to be as low as possible. It doesn’t take into account that not all customers are of equal value to your small business. This means that in certain circumstances a higher CPA might deliver more to your business.  This is because not all customers are of equal lifetime value.

Calculate Your Conversion Rate

Knowing your conversion rate is one of the best ways for you to measure how well your marketing tactics are working. An easy to understand example of conversion rates is the question: “how many site visits are turning into paying customers?”

If your conversion rate is low, you will need to pinpoint exactly why that is so that you can work on increasing it. A conversion rate can be low due to one of the following:

  • Web Design: your website may be too difficult to navigate or not catchy enough.
  • Your Audience: you may not be reaching the right target audience with your marketing campaign and therefore aren’t driving any traffic to your site.
  • Traffic Quality/Messaging: similar to the aforementioned point, there’s always the possibility that you’re not pulling in the right traffic for your product or service.

Luckily, these are things you can fix, as long as you’re keeping yourself aware of any changes. The best way to get a sense of how to increase traffic quality is by analyzing your conversion rates per advertisement or website. Compare and contrast your different advertisements.  Look to see which ones have a better conversion rate.  For example, is influencer marketing having a greater impact than your Facebook ads?

Once you know which methods have higher conversion rates, you can focus your attention on those methods and gain higher quality traffic. Remember, however, that market interests can change. Always ensure you’re monitoring your conversion rates and making adjustments when necessary.

Choose Your Sales Funnel Approach

There are two main sales funnel approaches to consider when drafting your small business marketing plan: the bottom-funnel approach and the top-funnel approach.

A bottom-funnel approach is where you invest in trying to develop your renewal rate and increase the likelihood of repeat customers. You focus on the bottom of the funnel and get people buying your product or service first. Once you’ve optimized the bottom of the funnel, you can move on to the next stage— the top-funnel approach.

For a top-funnel approach, the focus is to send new people to your website. Top-funnel marketing approaches include influencer marketing and public relations (PR) and you’ll invest in these approaches once you know what your conversion rate is and how well your product sells. In summary, a top-funnel approach is ideal if you have already successfully gained customers and users (the bottom of the funnel).

The two approaches have different tactics, so ensure that you can address your specific needs accordingly before you start investing.

Accurately Price the Value of Long-Term Advertisements

Whereas short-term advertisements are easier to price, long-term advertisements, such as PR, blogging, and influencer marketing, aren’t as simple. However, while more difficult to price, long-term advertisements have the benefit of having more value than short-term advertisements.

To give you an example, here are a few ways in which long-term advertisements have additional value:

  • Social Media Shares: long-term advertisements have a better chance of being shared on Facebook, Instagram, Twitter, etc.
  • Create Discussion: by having a longer “shelf-life,” long-term advertisements last long enough to generate discussion.
  • Search Engine Optimization (SEO): this is useful for your blog or website.
    Accessible: unlike short-term advertisements, long-term advertisements are always accessible to the public.
  • Elevated Brand Recognition: similar to the other points, the longer an advertisement is made available to the public, the more people will learn about your brand.

To determine whether or not a long-term advertisement is valuable to you, you don’t want to look at impressions alone. Instead, you will want to calculate the total media value. To calculate total media value, put a price on each engagement with an advertisement or with your website. For example, you might put a $2 value on an Instagram or Facebook share and a $5 value on a website visit that originates from SEO content.

Perform A/B Testing

A/B testing is fairly straightforward and important to a successful marketing campaign.

If you decide to invest in a top-funnel approach, such as influencer marketing, A/B testing the web page that visitors are being directed to will optimize the layout for subsequent initiatives. For example, you may want to make changes to the website to review which changes produce the highest conversion rate. These changes can be something simple like the background colour and/or pictures, or it can be something like changing the website’s language.

A/B testing is the best way to review and implement important data that will ultimately help your business flourish.

Retarget

The best way to optimize the bottom and middle of the funnel (those already familiar with your product/brand) is to retarget website visitors and email readers.

You can insert a snippet of code, known as retargeting pixels, in the back end of your website or in an image within an email. Retargeting is a great way to draw people into your product or business. When successful, it’s a great way to know whether or not your product is garnering interest. Depending on your business, you can also start to run abandoned shopping cart campaigns as well.

With effective retargeting, data shows that you can double your clickthrough rate (CTR) which just goes to show how powerful the method is.

Create a Blog

Blogging is essential, especially if you are a  small business or if you’re launching a new product as they help establish trust with your visitors and boost your visibility on search engines.

Your blog doesn’t need to be large, but, before you invest in small business marketing, ensure that you first have a few blog posts on your site for visitors to engage with. However, if you don’t plan to post often or regularly, remember to remove the timestamps from the posts so that they don’t appear outdated.

Have Clear Goals For Your Small Business Marketing Campaigns

Before working with any vendor (eg. an agency), it’s vital that you clearly and concisely communicate your goals. This will ensure you find a vendor that fits your needs and budget.

A few goals that you might want to communicate with any vendors are a number of site visitors, social media followers, shares, email addresses, downloads, event attendees, or a particular conversion rate.

You may have a secondary goals as well. You should ensure that your primary goal is communicated effectively. That way your vendor has the proper guidance to make the appropriate choices for your brand.

Pay Attention To Your Marketing Campaigns

While running a social media marketing campaign, don’t forget to observe and engage in that campaign. For example, don’t forget to answer questions that may come up on social media! You should always have someone to answer questions. If you don’t want to answer questions publicly, you should still engage with the individual and ask them to message or email you privately.

Additionally, be active wherever your social media advertisements are running, such as commenting if someone shares or engages with the advertisement in some way. If you’re not engaging in social media, you’re losing the opportunity to enhance your conversion rate.

7 Tips For Small Business Marketing Success In 2020

small business marketing

small business marketing

Implementing a successful small business marketing strategy is integral to your success. An effective marketing strategy for a small business should be the number one priority when developing your business. The problem is, with how quickly media trends shift, it can be difficult to plan or keep up with the constant changes. However, there are a handful of techniques you can use that will help you create and implement your marketing plan.

Here are the top seven tips to get you started on creating a strong marketing strategy.

Maintain A Content Calendar

A content calendar is a great way to organize all of your marketing content across your various platforms and campaigns. It will help you keep track of what, when, and where you want to post. In the case of influencer content, it will also help you manage who is posting and when. Also, by using a content calendar, you will have a complete history of your content marketing, making it easier for you to see what you’ve already posted.

To start developing your content calendar, create a list of content that you want to share and then select the best option for delivering that content, such as Instagram, blog posts, etc. Then, plan when you want to post this content and compile that information either in a spreadsheet, on a physical calendar, or a browser plugin.

Using a content calendar will help you stay organized and you will also always know what’s next for your online marketing plan.

Optimize Your Small Business Website For Conversions

When developing your business’s website, it’s important to not only focus on how your website looks, but also how your website works and how well you introduce your business to the consumer.

While you may be tempted to spend a lot of your time making sure your website is aesthetically pleasing, you should also consider how well your website converts viewers to new customers.

A conversion based website typically involves the following:

  • An effective headline: it’s the first thing that will be seen on your website and it should immediately hook the viewer.
  • A call-to-action: this can be something simple, such as a “Learn More” link beneath a short description or image of your product.
  • Social proof: show your viewers what others think of your business in the form of reviews or testimonials.
  • Contact information: consumers may have questions and you should ensure that they have the means to ask those questions. This will also serve to start building that connection between your business and your new customers.
  • Visual features: a text-heavy website is not the most effective way to draw in website traffic. Ensure that you include some images and/or videos, but try not to overdo it either.

Build and Invest in Your Content Team

Behind all great businesses is an even greater team. Having a team to back you up will take some of the pressure off of your shoulders and help everything run more smoothly.

First, start by building a team of strong content creators who can effectively represent your brand. Next, you should ensure that you are creating strong relationships with your team of content creators so that there is a cohesive online presence for your brand’s voice. Lastly, always be willing to listen and respond to your team’s ideas and questions.

Focus on SEO To Drive Traffic

Most people will find your website via a search engine such as Google or Bing. As such, to pull in traffic to your website, you will need to implement some SEO techniques. Some of the basic SEO principles will help to generate traffic in the early days and beyond.

Therefore, you should consider the basic principles of local SEO strategy, some examples are:

  • Displaying customer reviews
  • Creating effective title tags and meta descriptions
  • Optimizing your Google My Business Listing
  • Listing your business’s name, address, and phone number

Identify Key Influencers

Influencer-driven marketing is a strategy where social media influencers will promote a product, business, or service to their audience. While you may think that influencer marketing is only available for larger businesses, there are options for small businesses to benefit from influencer marketing as well.

There are micro-influencers who have a smaller audience but have built a dedicated, niche audience that could be the perfect fit for your brand. These micro-influencers will also tend to cost less than larger influencers while providing higher ROI.

To start a connection with a micro-influencer that you feel is a great fit for your business, start by following their social media accounts. Then, like and comment on their most recent posts. Afterward, initiate further contact by sending a private message asking if they would be interested in working with you. Ensure that you mention how the partnership will benefit the influencer as well as their audience.

Stay on Top of Small Business MarektingTrends

You should always know what trends are current in your industry and show your audience that you know these trends by implementing them in your online presence. For example, you might create a giveaway contest with a social media influencer. You could also try creating an online quiz or doing a live Q&A session on Facebook or Instagram.

You may not always be successful when trying new things, but you will be able to track what methods are effective and which are not so that you can focus on the ones right for your audience. The important thing is to challenge yourself and step outside the box because that’s when good things can happen.

Analyze the Data

You should always be reviewing your data to pinpoint what marketing methods are working and which are not. This will add significant value to your business in the long term.

Keep track of what content you’ve posted and when. Then, try out different posting times if you find one isn’t working. Additionally, if you’re sending email newsletters, try out different styles if you find there isn’t much engagement. Lastly, review your social media analytics. Figure out which posts are gaining the most traction and why.

Once you’ve compiled and reviewed the data, you can use this information to strengthen your marketing strategy even more. You are able to repeat and expand the successful activities and eliminate the ineffective ones.  Having a fully developed marketing strategy is the key to a successful business and keeping track of your data will set you up for success in the future.

Product Launch How To: Tips For Success

launch

 

You just might have the next game-changing product idea, but the question is, how are you going to present this idea to the world? The first step is to execute a brilliant product launch.

A strong product launch is the best way to set yourself up for success as it’s the first true introduction of your product to the public. An effective launch will have a lasting impression and draw in consumer interest.

The frightening part of an initial first launch is if it doesn’t have an immediate impact on your intended audience, it’s not possible to re-do the launch. You only have one shot to do it right. But, don’t let that scare you. With careful planning and research, you can be well on your way to successfully launching your product, even if it’s your first time.

While you may be thinking that a perfect first launch is easier said than done, there are a few key ways to help you get it right. With this in mind, we’ve built a product launch how-to guide to get you started.

Know Your Market

With inspiration comes excitement— you’re ready to show the world your great idea. You should be! However, it’s important not to let excitement prevent you from taking the time to learn about your market first. Investing the time to perform adequate market research will help you throughout the development and launch phases.

With market research also comes competitor research. Before you can fully develop your launch plan, you need to know who else out there is considered your competition. Keep an eye on both big companies and small because while ‘small’ competition might not seem concerning now, they can grow very quickly, catching you off guard and hurting your business.

Now that you’ve identified your market and competition, see where your product can uniquely add to that market. Once you understand how in the market is fulfilling a need for your customer base, you’ll get to know how your product fits into the landscape.  You can highlight those specific benefits in your product launch.

Establish Realistic Product Launch Goals

Setting realistic goals for what you would like to achieve helps you to define a path to success. Having a series of smaller goals for your launch will also help you on your way to achieving your company’s big-picture goals. It is vital that your goals are realistic and are based on the current status of your capabilities as a business.

Some examples of goals for your product launch might be:

  • garnering interest from relevant media outlets;
  • expanding your consumer base and/or social media following;
  • and/or setting and meeting a sales target

Something to keep in mind is that your goals for the product launch should parallel your long-term growth strategy. Having cohesive goals for your first launch and your company will solidify a streamlined path to success as well as align your product launch with your company’s overall trajectory.

Learn Your Audience and Define Your Main Message

After you’ve completed your market research and set your goals, it’s time to dig a little deeper.

Now you need to get to know your target audience in more detail. This includes your target market’s demographics, their current influences, media consumption, and any emerging trends in their lives.

A good way to start is by putting yourself in your audience’s shoes. Developing an in-depth understanding of your customers will help you specifically express the benefit of your product to your target audience. Focus groups and user testing are both common strategies to learn this important information. These should be done well in advance of your product launch.

Part of the process of getting to know your audience is developing a clear and concise message about your product and your company. What’s your company’s purpose and what does your brand stand for? Your audience will want to know what your company’s message is and what you represent. Make sure you have a message that distinctly identifies your company’s objective and vision. Keep in mind that people don’t buy what you do, they buy why you do it. (Simon Sinek link)

Develop and Test

Testing for your product should begin early. There will likely be many phases to your product so you must start testing as soon as possible. Your product doesn’t need to be flawless before you get it out to your first group of consumers. Start with a minimum viable product (MVP) for your first customers to test and provide feedback on.

When you’re in the development stage, you should design the full end product, including all the features, with the understanding that not all of these features will be implemented right off the bat. Painting a full picture of your intended finished product will help your developers plan your product’s stages and, ultimately, save you time.

Once you have your MVP ready, you can start collecting feedback from your established consumer focus groups. This will provide you with a better understanding of your target audience’s needs and thought processes. That being said, you should keep in mind that feedback should be considered guidance, not gospel, and you can’t have too much feedback.

Construct Your Marketing Plan

Creating your marketing plan can be done early, even before your product has reached its final stage. In fact, you should start thinking about your marketing plan before your product is finished.

Here are some examples of activities you should consider when developing your marketing strategy:

  • Company and product branding
  • Use of social media;
  • Social media influencers;
  • Planning a launch event;
  • Having a pre-launch press-release for various media sites

Some of these ideas are dependent upon your target audience, so this is why it’s important to understand your customers on a deeper level. For example, if your intended market is individuals that are ages 60+, investing heavily in social media influencers may not be the best course of action.

Additionally, you don’t want your product to seem to appear out of thin air. You should start spreading the word about your product and building interest well before your product launch date. On the flip side, you don’t want to start marketing too early as your consumers may lose interest waiting. While there is no right or wrong timeline to use, we have seen success when a marketing plan is implemented 1 ½ to 2 months before your launch.

Lastly, your marketing plan needs to expend well beyond the launch. It is important that you continue to develop your brand and grow your audience. This will ensure that your product doesn’t just drop away from the spotlight after the initial launch hype but continues to grow.

Measure Results

To fully understand if you’re on the right path to a successful first launch, you need to ensure you’re measuring your results along the way.

For example, take a look at those earlier goals you set. Did you meet them? Why or why not? Some other measurable ways to evaluate your progress are by performing consistent analytical data tracking, such as sales, website traffic, social media engagement, etc.

Don’t wait until after your launch to take a look back or analyze your process. By then, it’ll be too late to change course. Instead, take the time to reflect on your past goals and how you feel you’re doing in meeting your current goals along the way. Continue to measure your success and share your reflections with your team. Having everyone on the same page is key to a smooth launch.

Keep Up the Momentum

It doesn’t all come to a halt after the launch; you’ll need to think ahead to what comes next. Continue setting your goals and think long-term, because, truly, the launch is just the beginning of your journey.

Remember that there is a wealth of knowledge out there to support you. You can always ask for help or advice from other entrepreneurs that have been in the same position as you once upon a time. By learning from those with experience and with diligent planning, you’ll be well on your way to a successful first launch.