Influencer Marketing in Web3: How To Find The Right Fit On A Budget?
Traditional influencer marketing is dead in Web3. You must do more than give some money to an influencer with millions of followers and expect results. This is because users of Web3 are more aware than ever before. They engage with topics they care about and are aware of fake endorsements.
To succeed in influencer marketing in Web3, it is essential to forget the traditional Web2 tactics. How can you land people like Logan Paul, who sold $5 Million Worth Of NFTs in 2021, by partnering up with the right people?
It is next to impossible for smaller brands to land the big influencers, but you can use a mix of micro-influencers and macro-influencers to get your message across.
This article will dive into how you can do influencer marketing on a budget.
1. Think Big, Start Small
Bigger. Better. Stronger. This strategy doesn’t work for smaller brands with a budget.
You should start by looking for the right micro-influencers. These influencers have a smaller and more engaged audience as compared to their bigger counterparts. You could offer them free products, money, or anything that would make sense for the influencer and your brand. This will help you gauge whether your product or brand resonates with the influencer’s audience.
Consider hiring a full-time influencer marketing specialist. This person should be able to identify the right influencers and negotiate favorable deals with them. Here’s a great example of an influencer marketer job post you can replicate for your brand.
Also, follower metrics aren’t everything:
2. Leverage Your Network
There are alternatives if you don’t have the budget to hire a dedicated influencer marketer. Leverage your existing network of contacts or try to create a few strategic partnerships. Try to work out deals with influencers who are in the same industry or have a similar offering.
For example, if you’re in the NFT fashion industry and have a clothing line, you can partner with other influencers in the same space. This will help you build more credibility for your brand and get more exposure.
Networking is important, and this is what the CEO of one of the top crypto marketing agencies, Coinbound, talks about in his Apple podcast.
3. Create a Giveaway
The great thing about micro-influencers is that they are hungry for more work. You see, micro-influencers see mega-influencers as their long-term goal, as they get thousands of dollars for one tweet!
These smaller influencers might not be able to compete with the whales in their industry, but they will love smaller chunks, also known as giveaways in the crypto space.
Creating giveaways is an effective way to increase engagement with your brand. You can use influencers to promote your giveaway. This will help you build a more extensive base of potential customers and increase your brand’s visibility. Here’s a great article on how to create effective giveaways for your brand.
4. Love Thy Influencer
Regarding influencer marketing, it is vital to maintain a relationship with the influencers you hire. You should send them small gifts (NFTs?), offer them a chance to test new products, give them shoutouts and grow the relationship.
This is important because influencers have their following to protect. If they endorse a product that is not up to their standards, it can reflect poorly on them. Hence, it’s important to ensure that your product is good and that you maintain a relationship with the influencers, so they feel safe promoting it.
Showing loyalty and love to your network of micro-influencers will also create a good reputation for your brand in the mega-influencer space, which can help you access more prominent influencers in the future.
Aim for the right fit of influencers; reach is secondary, according to this affiliate marketing expert.
5. Partner With an Influencer Marketing Agency
Finding the right influencer on Twitter is like finding a needle in a haystack. This is why partnering with an influencer marketing agency can be beneficial.
These agencies already have a network of influencers they work with, and they can help you quickly get access to a larger network of influencers. They will also be able to negotiate better deals for you and help you create an effective influencer marketing program.
In short, these agencies can ‘place’ your brand to look like original s**t.
Influencers Marketing Is Hit Or Miss
Influencer marketing is here to stay. It can be incredibly effective for promoting your brand if done correctly, but it also has a few pitfalls.
Influencers can be unpredictable. You should always work with influencers you trust and create a rapport with them before signing any deals.
Lastly, always have realistic expectations for your campaigns. It’s important to remember that influencer marketing is a hit-or-miss game. No matter how good your influencer is, their campaigns may not always go as planned.
The key to success is persistence and willingness to learn from mistakes. You can easily do influencer marketing on a budget and achieve great results with the right strategies and tactics.
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- Credit: Hassan Shafiq
