The small and medium business landscape is growing at a very rapid clip in India. As a business owner here, you are already aware of the increasing competition you are facing here that is making it necessary for you focus heavily on promoting your brands and products. Thankfully, new age marketing also involves internet marketing and that can be done in many ways, through many channels. If you are looking for loans for small business to take your marketing to the next level, you want to make sure you get the best return on the investment. After all, loans come with a cost, sometimes a high one, if you are not careful. Hiring a social media influencer for your brand promotion can be one of the ways in which to make your marketing deliver great ROI.
Who is an influencer and who needs one?
Influencers are people who have a significant following and sway on various social media platforms and the virtual universe in general. Influencers may be celebrities of some kind or social media stars. What they say makes a difference to their followers, often prompting them to take recommendations given by the influencer.
If word of mouth marketing was a great crowd puller in the yesteryears, social media influencers are doing that job very well today in the internet intensive world. Especially with younger audiences, influencers have a great deal of power to bring them to your brand or to persuade them try your brand at least.
Virtually every business, irrespective of what service or product you produce needs to have a solid social media presence that can canvas the virtually unlimited internet audience that can access your page. That is a difficult task for most businesses, especially small and new ones, to achieve. A social media influencer does this job for you at a price. If you have been thinking of taking a business loan in Mumbai to fund your marketing efforts, hiring an influencer should be one of your top priorities.
How to find the right influencers
When you are taking out a business loan in Mumbai to invest in building your influencer circle, you don’t want to hire just anyone. Make sure you keep the following points in mind when pairing up with a social media influencer:
- Which is the platform you think you have most target audiences on? Choose an influencer who has best clout on this platform
- Who is your main target audience? Is it teens, or young working professionals or elders or people in a specific niche? Find out the influencers having the best follower counts among the target audience you seek to cover
- Do you already have a presence on the platform you wish to target? If not, create one first then look for an influencer
- Don’t rush into choosing your influencer. You must make sure their ethos is the same as yours. You would not want to associate with someone who has diametrically opposing views to your business ethos. For example, if you are a firm promoting eco-friendly products, you can’t pair up with an influencer who blatantly promotes the use of non-recyclable materials
- The cost of hiring also plays a key role, of course, because you want to keep within affordable limits the overall cost of the business loan in Mumbai that you take out for this purpose
- Starting out with one platform at a time is a good move because it helps you focus your efforts in the right direction and also measure the impact of your efforts accurately. This tells you if the investment you are making here by taking loans for small business is worth it or the funds can be invested elsewhere more efficiently.
- What kind of influencers do you seek? You can go for celebs with millions of followers or smaller influencers with followers in the thousands. Your budget is impacted by your decision so choose well and understand how to fully utilize the influencer for your business too so your investment is productive
- It helps to watch the influencer’s page for a few days or do a deep dive into their endorsement to figure out what kind of influencer they are and whether they match the profile you seek
Last words!
When you opt forbusiness loans,there are many ways in which you can utilize the funds. Expanding your business, buying new equipment, opening up a new branch, addressing seasonal demand etc. are all worthy causes to take loans for small business for. However, one of the most crucial areas is marketing and taking a loan for this purpose can be one of the most worthwhile investments you make for your firm. Within marketing, social media marketing pays for itself very well indeed but you must do your homework well to find the right influencer to reach and canvas the audience you have set sights upon.
