Influencer Marketing for Small Businesses: Creating Mutually Beneficial Partnerships[Part 2]
Welcome back marketers, small business owners, and entrepreneurs! In the first part of this blog series, we talked about small businesses engaging in Influencer marketing and how this particular strategy isn’t just for enterprises. If you haven’t read Part 1, be sure to go back and take a look. We go into detail about best practices for Identifying the right local influencers and the 3 types of local influencers to look for.
Moving forward to Part 2, we’ll dive into creating partnerships that are win-win situations (because nobody likes a one-sided deal, right?). As mentioned in Part 1, local influencers can be more than just social media personalities. They may be community leaders, other local business owners, or even customers with a strong following. Whoever you choose to help market and represent your company, always keep in mind that this is still business, meaning everything has a price tag. The good news is that because you’re starting your campaign on a local scale, there are various cost-effective ways to make sure you’re creating a partnership in which both parties benefit.
Creating Mutually Beneficial Partnerships
Successful influencer partnerships go beyond simple product promotions. Companies need to focus on developing collaborative campaigns that provide value to the influencer, their audience, and their business all at the same time. This could involve co-created content, special offers for the influencer’s followers, or even involving the influencer in product development or community events. The key is to create authentic, long-term relationships that feel genuine to the audience.
Importance of Authenticity in Partnerships:
With new platforms such as TikTok that thrive on authenticity, it’s in your favor as a business owner to be as honest and trasparent as possible when it comes to marketing your products and/or services. When an influencer partnership feels forced or fake, it’s like that awkward moment when you catch someone reading from cue cards — everyone notices, and no one’s buying it. Authentic partnerships, on the other hand, are likely to be seen as a perfect fit as if the influencer and the company effortlessly “go together”. When an influencer genuinely loves your product or service, their audience can tell, and that enthusiasm is contagious. It builds trust, creates genuine interest, and ultimately drives better results for both you and the influencer.
How Influencers Benefit from Well-Thought-Out Campaigns:
It’s not just about cutting a check (though we’ll get to that). Smart influencers are looking to grow their own brand too. A campaign well-crafted by your company can:
- Provide them with high-quality content
- Introduce them to a new audience (your customers)
- Enhance their credibility as a person of interest by associating with a respected business
- Offer unique deals, specials, or experiences they can share with their followers
- Potentially lead to long-term partnerships and steady income
How to Approach and Negotiate with Local Influencers:
Before engaging with a local influencer, be sure to do your homework. Check out their social platforms, see their engagement and messaging, as well as take time to engage with their content. It’s important to show that you understand and appreciate what they do. When making an introduction, it’s usually best to reach out via social before sending an email as a 2nd touch point.
Upon setting up the engagement, make sure that you and your team are clear about your goals and that you come to the table with ideas. As a side note, it’s also very important to be open to their suggestions as well. The best partnerships are collaborative and the influencer will most likelt know their audience best. In your initial discussion, be ready to discuss metrics for campaign success. This shows you’re level of seriousness and helps set clear expectations.
Methods of Compensation for Influencers:
Last, but certainly not least, let’s discuss compensation. The most serious Influencers at the end of the day are doing the same thing you are — trying to run a business. This means that in order to make the partnership fair, successful, and possibly long-term, there always has to be some form of compensation involved. Below are a few ways that influencers are compensated for their work. Note: many companies use a combination of the methods to make the experience more exciting. The different elements of a partnership can sometimes make the opportunity seem larger than life for a local influencer.
- Monetary Payment: Good old direct deposit is always appreciated. This could be a flat fee or based on performance metrics (I.E. — $XX per 1000 views or $XX per ## clicks.)
- Product or Service Exchange: Offering your product or service for free can be great for both parties. The influencer gets to experience what they’re promoting, and you get authentic content. This is often done in businesses that offer hair, nails or other esthetic services. (I.E. — a local influencer known for make-up tutorials may engage in a partnership that offers a free eyeshadow pallet + extra make-up goodies monthly, in exchange for a few pieces of content covering the free items)
- Commission or Affiliate Model: This is a popular model seen amongst many clothing and jewelry retailers. Offer a percentage of sales generated through their unique code or link. This incentivizes them to really push your product. (I.E. — you may offer an influencer 20% commission on any items they sell via a custom link or discount code)
- Exclusive Experiences: Invite them to special events, behind-the-scenes tours, or product launches. These create great content opportunities for them. (I.E. — Invite a local food influencer to your restaurant for a free taste of your menu’s specialty items. Allow them access to a premier tour of the kitchen and maybe even a close-up of how one of your popular dishes is made)
- Cross-Promotion: Offer to promote their content or services to your audience. This can be especially valuable for micro-influencers looking to grow their following. (I.E. — the same restaurant that offers a food influencer a unique experience could also, in exchange for social content and promotion of their restaurant, help to promote the food influencer’s new cookbook)
Remember, the key is to create a partnership where both sides feel valued and excited about the collaboration. It’s not just a transaction; it’s building a relationship that can grow over time. When done right, these partnerships can become one of your most powerful marketing tools, turning local influencers into genuine brand ambassadors who champion your business in the community.
To see more case studies from our real clients, visit us online: www.wndrlndmarketing.com
