June 27, 2023 | Eul Basa

Why Start-Ups Should Rely On Influencers Too


Some say influencer marketing doesn't work and that it's on its way to obsoletion, but the reality is quite the opposite. With the growing prominence of social media and digital networking, influencers are more important than ever for businesses. Whether you're a multimillion-dollar brand looking to stay relevant or a brand-new start-up seeking immediate growth, having a well-known online personality like Charli D'Amelio or Bretman Rock can be an absolute game-changer.

Influencer marketing works because it gives you access to real people and allows you to connect with them on a deeper, more personal level. You are tapping into the relationship that the influencer has built with his or her followers and winning them over that way. If an influencer stands by your product, chances are that his or her followers will do the same, purely out of support. There's no need for flashy ads or professionally edited campaigns—just having an influencer talk about your product in front of an iPhone is more than enough.

https://www.instagram.com/p/CR92leJBK2M/

According to a Shopify study, 89% of marketers agree that the ROI on influencer marketing is comparable or better than that from other marketing strategies. Nick Veneris, the marketing manager for Refersion, reported an 82% year-on-year growth rate in his platform's sales due to influencer marketing, from $238 million to $423 million. "Influencer marketing is growing rapidly, and it’s evolving to get smarter and more measurable," he said.

Of course, choosing the right influencer is critical, as they will be representing your business. You need to make sure that their values and morals line up with yours so that the collaboration makes sense. For example, if you are promoting a make-up product, you would want to take on a beauty influencer. If you are promoting a health product, you would want to take on a fitness influencer.

Additionally, the size of their following is something to consider. Generally speaking, the more followers they have, the more expensive their price per post will be. Most start-ups will probably want to start with nano-influencers (1,000 to 10,000 followers) or micro-influencers (10,000 to 50,000) as they are more affordable and less likely to be picky about the brands they work with. Do your research so you can narrow down your options to the best possible candidates.

https://www.instagram.com/p/BkdqKe3Bzv7/

It all begins with a single pitch—in order to capture an influencer's attention, you must prepare a message that outlines the goal of your proposed collaboration, an attractive offer or contract, and a clear sequence of steps. Essentially, you must convince the influencer that their brand is a good match for yours. How does your product relate to the content the influencer posts? Why will the influencer's followers care about your product? These are important questions you must answer.

It can be risky to go against traditional marketing formats in favor of an influencer-driven campaign.  But with the right approach and the right influencer, you can gain some much-needed exposure to your brand.

 


READ MORE

Power Internal

The Most Powerful People In The World

Power can manifest through political, financial, or societal influence. Leaders make decisions impacting countries. Business owners manage assets, shaping sectors. Influential figures impact millions with ideas, trends, and movements. Here are some of the most powerful people in the world today.
July 5, 2024 Eul Basa
Weirdhabits Internal

The Weirdest Habits Of Successful People

Throughout history, these exceptional individuals were known for their eccentric habits that they believed contributed to their success. From unconventional routines to odd quirks, these famous figures prove that sometimes embracing your weird is the key to success.
June 20, 2024 Eul Basa
Industries That Millennials Are Killing

20 Industries That Millennials Are Killing

Discover the industries that millennials are impacting and why traditional businesses are struggling to adapt. Our in-depth analysis explores the changing consumer habits and values driving these shifts. From casual dining to traditional retail, see how the millennial mindset is reshaping the economy.
May 29, 2024 Peter Kinney
Wpthumb

Things Only Wealthy People Know Exist

There are a million things that money can buy—and a lot of them are things that most people don't even realize are an option. Here's a glimpse into the secret world that only the richest of the rich have access to.
May 21, 2024 Jamie Hayes
Homestead Budget Internal

How to Start a Homestead On A Budget

Uncover 10 steps to starting your homestead on a budget. Find out how you can get supplies, plants, and even animals basically for free, and how to maintain it all for next to nothing.
May 17, 2024 Allison Robertson
Alex Tew and a Koosh Ball

17 Dumb Inventions That Made Millions

These simple inventions will make you scratch your head and think, "Well, I could have thought of that"...Only, you didn't.
May 17, 2024 Sarah Ng



Dear reader,


It’s true what they say: money makes the world go round. In order to succeed in this life, you need to have a good grasp of key financial concepts. That’s where Moneymade comes in. Our mission is to provide you with the best financial advice and information to help you navigate this ever-changing world. Sometimes, generating wealth just requires common sense. Don’t max out your credit card if you can’t afford the interest payments. Don’t overspend on Christmas shopping. When ordering gifts on Amazon, make sure you factor in taxes and shipping costs. If you need a new car, consider a model that’s easy to repair instead of an expensive BMW or Mercedes. Sometimes you dream vacation to Hawaii or the Bahamas just isn’t in the budget, but there may be more affordable all-inclusive hotels if you know where to look.


Looking for a new home? Make sure you get a mortgage rate that works for you. That means understanding the difference between fixed and variable interest rates. Whether you’re looking to learn how to make money, save money, or invest your money, our well-researched and insightful content will set you on the path to financial success. Passionate about mortgage rates, real estate, investing, saving, or anything money-related? Looking to learn how to generate wealth? Improve your life today with Moneymade. If you have any feedback for the MoneyMade team, please reach out to [email protected]. Thanks for your help!


Warmest regards,

The Moneymade team