With approximately 70% of consumers referring to social media before making a buying decision – it is no wonder that brands are increasingly adopting Influencer Marketing as one of their key strategies. It’s no secret anymore that businesses are collaborating with social media influencers to gain advantage and promote their brand.
However, when we think of influencer marketing, often celebrities with expansive fan base comes to mind. Although, partnering with celebrities of such stature may always be the most effective or even feasible way to capitalize on influencer marketing – a more realistic approach for brands would be to go micro. It is noted that 82% of consumers are more likely to follow a recommendation made by a micro–influencer. Which means, collaborating with multiple micro-influencers with smaller yet engaged follower base can drive more meaningful results.
So, who are these micro-influencers?
Micro-influencers are everywhere today – they have smaller audience base think 5,000 to 50,000 as opposed to million followers of macro-influencers. But, surprisingly, it has been observed that micro-influencer with merely 50,000 or less followers can deliver Higher Engagement Rates than influencers with over million followers. Let’s look at some of the benefits you can derive by partnering with micro-influencers:
Engagement rates are way higher
Micro-influencers are not celebrities they regular people with great passion and expertise over a subject-matter, whether it is fashion, cosmetics, interiors, sports etc. Their messages and content are personal and authentic which makes them way more relatable than the big-time celebrities. That is why their content often performs better than macro-influencers’ posts.
According to a report influencer with less than 1,000 followers have about 8% “like” rate as opposed to 4% of the ones with 1,000 to 10,000 followers. These like rates continue to drop as the number of followers increase. It is obvious that marketers looking for a bang for their money should consider micro influencers to capitalize on superior engagement and gain better visibility.
Audience is pre-segmented and narrowed
Besides delivering higher engagement rates, micro-influencers offer the benefit of connecting with a refined set of audiences. Their followers are people who genuinely like their content, and are looking for inspirations, suggestions, ideas and recommendations, in short – they relate to their posts and way of life – whether it is their food, lifestyle, interiors or fashion choices.
Partnering with micro-influencers that fit into your brand’s target market can drive better conversions. This new form of word-of-mouth exposure allows you to connect to the set of audience that are interested in the product or service you are offering and are willing to listen – because of their perceived connection with the micro-influencer.
Easier to collaborate and are budget-friendly
As demand for influencer marketing skyrockets, collaborating with big names will only get harder. On the other hand, micro-influencers with smaller follower base could be lot easier to partner with. Moreover, they are lot more flexible making it easy and effective through the collaborative process, that can help create and push genuine and compelling content aligned with brand ideas. And of course, needless to say smaller audience means reasonable price tag. You may need to collaborate with multiple influencers to achieve scale, but even so, the total cost is often way lower than you would pay for a macro-influencer. Besides, icing on the cake is, since micro-influencers often drive higher engagement rates, it tends offer optimized ROI than the usual influencer marketing efforts.
There is no contest that micro-influencers are in a unique position to offer better engagement, higher conversion, scalability and flexibility and deliver more tangible results big-time influencers. But, finding the right partner and managing them is a challenging task. Check out this space to know more about how to kick start your micro-influencer marketing plan.
Have you already shortlisted micro-influencers ready to endorse your brand? If not, call us, we can help you connect with the right partner.