Subject: Economics and business
Year: 2024
Type: Article
Type: PeerReviewed
Title: Influencer Marketing Strategies for Small Businesses: Navigating the Digital Landscape with Limited Resources
Author: Bezovski, Zlatko
Abstract: In today’s competitive digital landscape, influencer marketing has become an essential tool for small businesses seeking to enhance brand visibility and engage with niche audiences. However, limited budgets and resources present unique challenges for these businesses, necessitating creative strategies to maximize impact. This study explores the strategies small businesses employ to effectively navigate influencer marketing despite financial and analytical constraints. Through an integrative review of existing literature and industry practices, four key areas were identified: general marketing strategies, influencer selection criteria, sponsorship types, and performance tracking. Small businesses utilize cost-effective methods, such as collaborating with micro- and local influencers, who provide targeted reach and authentic engagement at lower costs. Additionally, establishing long-term partnerships and prioritizing content co-creation enable small businesses to build credibility and maintain customer loyalty. Performance-based sponsorship models, including affiliate marketing and product gifting, allow small enterprises to incentivize influencers in alignment with budgetary constraints. Although performance tracking remains a challenge due to limited access to advanced analytics, small businesses rely on affordable tools and basic metrics, such as engagement rates and ROI indicators, to make data-informed decisions. The findings underscore the adaptability of small businesses in influencer marketing, demonstrating that authenticity, strategic influencer selection, flexible compensation models, and simplified analytics are essential components of successful campaigns. This study contributes to the broader discourse on resource-efficient digital marketing practices for small enterprises, offering insights that could inform future research and support sustainable growth in a rapidly evolving digital ecosystem.
Publisher: Македонско меѓународно научно списание „МАРКЕТИНГ“ Скопје
Relation: https://eprints.ugd.edu.mk/38638/
Identifier: oai:eprints.ugd.edu.mk:38638
Identifier: https://eprints.ugd.edu.mk/38638/1/Influencer-Marketing-Strategies-for-Small-Businesses-Bezhovski.pdfIdentifier: Bezovski, Zlatko (2024) Influencer Marketing Strategies for Small Businesses: Navigating the Digital Landscape with Limited Resources. Marketing, 21 (1). ISSN 857-9787
