Have you ever bought something because a famous person you admire used the product or service and recommended it on their social media? This is one of the practical tactics employed by businesses to increase their sales as they venture into influencer marketing.
Businesses across every industry now use influencers. Influencers are individuals who have cultivated a specific audience, commonly on social media, and can affect consumers’ purchase decisions. These influencers have the potential to promote small businesses’ products and services to a targeted audience.
As influencers understand the power they hold over their thousands or even millions of followers, they make brands pay in exchange for promotions. Read on to learn more about how small business influencers make money online.
Some well-known influencers began by using their social media as a hobby before turning it into a moneymaking platform. They started with sharing images and videos of their day-to-day activities they felt passionate about. As their following grew, they began to optimize their account for marketing.
What once started as a hobby has now turned into a platform to influence people. But, of course, before deciding to be an influencer, they had to make sure that they have enough market reach. That means ensuring that they are being followed by relevant people and regularly engaging with them.
Brands prioritize influencers who enthusiastically engage with their active followers. Every reaction, comment, or share from a follower does count. A high engagement level with their audience means businesses will be more enticed to sponsor their posts.
Building Engaged Followers
Although having a large following is a plus, there is no absolute minimum following size in order to be an influencer. Again, it is highly dependent on their specialty niche and the engagement level of their followers. Most of the time, quality beats quantity.
Influencers now employ various strategies to build more followers and keep their audience engaged. Business influencers have to create their personal brand and niche. For people to get to know them better, creating an enticing bio on their social media profile helps.
Aside from posting regularly, they answer and react to commenters to build and maintain positive engagement. They also put effort into captioning their posts, telling stories, and providing context to the product or service they are promoting, and they never forget to put relevant hashtags on each post.
Almost all influencers invest in good cameras to ensure that they are posting high-quality images and videos. Aside from that, they bond with other influencers in their niche as they try to remain authentic.
Influencers typically begin their promotional work with small businesses – often those who can’t afford a marketing budget. At this point, It’s too early to expect a hefty amount of money from small brand collaboration. It is just a way to build an online reputation, as well as getting an experience.
These small brand partnerships will be of good use later when it is time to work with large businesses with more marketing funds. Some influencers accept promotional content from little to no cost just to build their online portfolio.
Once agreed upon, a small business will offer free product samples or a PR kit to an influencer in return for a product feature post. These featured posts must be trustworthy, relevant, and suitable for their audience. Otherwise, followers will stop following the account and will also no longer engage with posts.
Negotiating With Brands
As their accounts grow, talented influencers will use their experience to partner with more prominent brands that have more of a sizable marketing budget. That’s when they start earning a more significant amount of money depending on how they and the brands see their worth in their niche.
For example, if you’re planning to be an Instagram influencer, you can calculate how much you can charge for sponsored posts through this Instagram Money Calculator.
The negotiation process is complicated, and business influencers should be aware of their worth and not let any business talk them down. It is on them if they accept or turn down the offer. Like any arrangement, it has to work for both parties.
Anyone passionate (not necessarily an expert) about something can make a living from their hobby by building an influence on online platforms. Deciding to be an influencer means continuously putting your audience at the utmost importance because they are your investment.
Knowing the brands that you will work with will also help you maintain your followers. These are some ways business influencers make their money.