Influencer Marketing will be benifitial for starups if they use it correctly. Devising a marketing strategy is always a tricky process for startups. Startups have very little to bank on in terms of brand value, experience as an organization, and budget. So, startups do not afford to waste their time, effort, or money. One mistake and startups could feel its tremors everywhere, on brand value, sales, and subsequently on investments.
That makes it a must for startups that they get their marketing strategy bang on. But, devising is a good marketing strategy is not the only challenge that startups face; execution is a challenge, as well. Startups don’t have work experience as an organization is the primary reason. Marketing strategies can be complicated; hence, the experience is critical for their successful execution. That is where influencer marketing comes in handy, for it virtually eliminates the execution part. Let’s understand that better, along with learning about a few other benefits of that marketing strategy.
Virtually Eliminate Execution
There is not much that an advertiser has to do in terms of execution when opted for influencer marketing. The advertisement is handed to the influencer, who puts the advertisement onto his social media account. All the advertiser has to take care of is to create a good advertisement that would attract potential consumers. There is no execution time, effort, or cost. That is an extremely crucial aspect for this way marketing, for startups are more often on the brink when it comes to budget and workload then not.
Lots of Viewer Information
It is a massive benefit of influencer marketing that advertisers get to know their target audience before manufacturing their advertisement. Social media accounts are a mine of personal information. Advertisers can visit the profile of the influencer that they are marketing with, and carry out a detailed analysis of his followers. Many things would get revealed upon that. Advertisers can know their ad viewer’s age, nationality, gender, etcetera, along with so many other life choices. That data would be extremely useful for creating the advertisement. No other marketing strategy allows advertisers to know exactly as to who will view their advertisement except influencer marketing.
Influencer marketing does not require any execution activity from the advertiser. The advertiser does not have to shell out any money to rent the space where the advertisement would be put up. Instead, the influencer who uploads the advertisement on his social media account is paid. Elimination of execution activity and rent expenses save a lot of finances. Influencer marketing offers the best expenditure- viewer count ratio. Compare that to putting up an advertisement on a billboard on a busy street. Let’s say the billboard is viewed by 15,000 people every day. An advertisement can be put up on the billboard, or on an influencer’s account, that has got as many followers. Putting up the advertisement on the influencer’s account would most definitely cost less. That aspect is of great significance as startups have very little financial freedom.