The Impact Of Influencer Marketing On

SMEs
Asmita Chattopadhyay October 18, 2023

In Today’s Ever-Evolving Content Space On Both Traditional And Digital

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 Marketing Platforms, Consumers Are On A Constant Lookout For
Trustworthy Voices And Credible Social Proof Of Brand Worth To Make Their
Purchase Choices. This Pursuit Of Authenticity And Genuine Connection
Has Given Rise To The Concept Of Social Media Influencers. The Thriving
Influencer Marketing Scenario Has Empowered SMEs, Leading To
Remarkable Outcomes And Showcasing The Immense Potential Of
Authentic Influencer Collaborations In Driving Business Success.

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The concept of influence is not new. In today’s ever-evolving content space on both
traditional and digital marketing platforms, consumers are on a constant lookout for
trustworthy voices and credible social proof of brand worth to make their purchase
choices. This pursuit of authenticity and genuine connection has given rise to the
concept of social media influencers. With millions of influencers online and a plethora of
social media platforms available for users, brands and agencies alike are prompted to
integrate comprehensive social media marketing strategies (https://atrybe.com/social-
media/) into their marketing budgets. Particularly for Small and Medium Enterprises
(SMEs) operating with limited resources, this innovative approach has leveled the
playing field, offering them a powerful tool to enhance outreach to the target audiences
and bolster brand growth. The thriving Influencer Marketing scenario has empowered
SMEs, leading to remarkable outcomes and showcasing the immense potential of
authentic influencer collaborations in driving business success.

Understanding Influencer Marketing

Understanding Influencer Marketing is essential to decode its impact. At its core, it is
advertising products or services through real, authentic individuals on their personal
social media handles. This clout of real individuals claims a perceived degree of
awareness in their field and also boasts an engaging follower base. The references of
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 products and services that they showcase in their content reach their audience, much
like word-of-mouth marketing, and therefore, have an amplified impact. Organic
integration of the product or service within their organic content helps the brand
achieve awareness, trust, and credibility. Crucial to this strategy is the alignment
between the influencer’s audience and the brand’s target consumers. Ensuring this
overlap guarantees that the influencer’s endorsement strikes a chord with the right
demographic, maximizing the effectiveness of the marketing campaign and
establishing genuine connections with the audience.

The Big ‘C’ Of Marketing

Leveraging authentic voices, Influencer Marketing helps cultivate the Big C for SMEs,
which is credibility. Consumers trust influencers. The 2021 Nielsen Trust in Advertising
study (https://www.nielsen.com/insights/2022/getting-closer-influencers-help-brands-
build-more-personal-consumer-connections/) found that 71% of consumers trust
advertising, opinions, and product placements from influencers directly implicating a
brand’s reputation. Case in point: Toronto-based temporary tattoo company Inkbox
turned to TikTok to boost brand awareness and get Gen Z’s attention to their products
around 2021. The company’s CEO, Tyler Handley, went on to quote to a news agency
(https://digiday.com/marketing/why-temporary-tattoo-brand-inkbox-is-shifting-its-
marketing-focus-to-
tiktok/#:~:text=When%20it%20comes%20to%20strategy,post%20a%20video%20in%20return.)
that the content platform accounted for between 30% and 35% of Inkbox’s website
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 traffic in FY22, up from 10% in the previous year. The company has since reportedly
tripled its spending on TikTok, including both Influencers as well as push
advertisements to keep growing its business.

Tapping Into Growth

Influencer Marketing helps business growth by expanding brand visibility to a targeted
and engaged audience. Businesses can ride on the influencer’s credibility to drive sales
and establish a loyal customer base, ultimately accelerating their overall growth and
success in the market. Aimee Sloggett’s mobile beauty services company Wink and
Wave (https://financialpost.com/entrepreneur/fp-startups/how-even-small-businesses-
can-harness-the-power-of-influencers) witnessed the right kind of attention when the
famous mommy blogger duo Cat and Nat came on board to promote their services in
2019. They quickly grew their employee base as business was fostered within GTA.
Moreover, as the mommy bloggers duo grew in popularity in the US market, Wink and
Wave expanded their online product sales.
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 Authentic Voices In Online Ads
Traditional advertising has given way to more authentic and relatable content.
Consumers now seek trustworthy voices that resonate with their values and
preferences. Influencers have emerged as the key players in this paradigm shift,
offering brands a bridge to their target audiences with a sense of authenticity that
traditional advertising often lacks. US-based bone broth company Kettle+Fire
(https://www.foodnavigator-usa.com/Article/2017/04/03/Bone-broth-category-offers-
massive-opportunity-for-early-movers) went on to create dozens of Instagram posts, in
collaboration with authentic Influencers, that spoke about the specific benefits of their
product. The company then used those curated images on their Facebook ads to gain
more traction. The combined efforts of authentic content and strategic marketing
boosted the company’s visibility, enhancing brand perception on top of gaining a
beautiful set of imagery for the brand.
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 Common Challenges Faced By SMEs
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 Apart from the daunting task of finding the right influencers who fit the brand
requirement, the other prevalent hurdle that most SMEs face is budget constraints, as
small businesses might not always have the financial resources to engage high-profile
influencers. Moreover, accurately measuring the return on investment (ROI) can be
elusive, making it difficult to evaluate the effectiveness of the campaigns. While
establishing clear objectives, setting key performance indicators (KPIs), and fostering
open communication with influencers can enhance the overall effectiveness of
influencer marketing efforts, collaborating with influencer marketing experts who have
their eyes and ears on this ever-evolving diaspora is a sure-shot solution for success.
Opting for a partnership with Atrybe (https://atrybe.com/) helps make this path of
influencer research, negotiations, and collaborations much easier.

Unlocking Success With Micro-

Influencers
The surge of influencers has given rise to a flourishing community of micro and nano
influencers. This growth has further simplified access to the community. Moreover,
unlike the established more prominent influencers, the micro-influencers cater to
smaller groups, basing their content on shared interests and specific ethnicities. As a
result, they boast a highly engaged follower base who are more receptive towards their
content and reviews, thus strengthening their contribution towards the marketing
efforts.

Small businesses have also shown creative ways of tapping into their services for
optimum returns over time. Many small businesses bootstrap their marketing
campaigns effectively by collaborating with influencers who are open to receiving
products instead of monetary compensation. This approach allows budget-conscious
entrepreneurs to harness the power of social media without breaking the bank.
However, the key lies not just in finding willing influencers but in finding the right ones.
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 Who Is The Right Influencer?
Ensuring alignment between the influencer and the brand’s values and goals is
paramount. Thorough due diligence and research about potential influencers help
entrepreneurs avoid partnerships that may not reflect their brand positively. A
substantial audience overlap with the business’ target customers is imperative to hit a
suitable consumer base with accurate messaging. While this research is important and
time-consuming, common cultural nuances and popular sentiment around the
selected influencers must also be taken into account to safeguard the brand from
potential crises at a later date.

Summary
Empowering SMEs: Influencer Marketing, facilitated by a myriad of online
platforms, has become a leveling tool for Small and Medium Enterprises (SMEs). It
allows them to expand their outreach and connect with their target audience
effectively through authentic voices.
Significant Impact: Influencers wield substantial power for small businesses
aiming to enhance visibility. The flourishing diaspora of micro-influencers
targeting specific interest groups and ethnicities helps yield tremendous
business results if utilized tactfully.
Key Strategies: Success involves meticulous research, brand alignment, and
selecting influencers who resonate with the target audience. Creating authentic
connections through creative content helps boost brand recognition.
Meaningful Partnerships: Building effective partnerships is crucial. Atrybe
(https://atrybe.com/) facilitates businesses in unlocking their potential, fostering
enduring connections, and driving exponential growth. Explore our
comprehensive range of services (https://atrybe.com/services/) for optimal results.
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