So, you have probably heard about the phenomenon that is influencer marketing It’s an industry that is dominating headlines and Instagram feeds across the world and by the year 2020, it will be worth an estimated $10bn.
But, just like most things, as popularity is expressed in a certain area, conversations quickly arise about how to improve and innovate. When this happens, it can sometimes be hard to keep up, and you start to feel like your 80-year-old grandma being introduced to the mystical object that is a mobile phone.
As it continues to play a major role in many marketing strategies, influencer marketing hasn’t been left out of that innovation conversation – great news for those that thrive off change, bad news for those who find it difficult to keep up with new phrases, terms and services.
If you are the latter, you might be slightly baffled by the frequently coined term – ‘micro influencer’. But don’t fear, Influencer Matchmaker is on-hand to give you the lowdown on what defines a micro-influencer and the benefits of using them.
What is a Micro Influencer?
The definition of a micro influencer often differs from article to article, with some stating that as little as 1,000 followers is enough to be deemed a micro influencer. However, at Influencer Matchmaker, we define micro influencers as “social media users who fall inside the 3,000-100,000 followers/subscriber bracket.”
Originally, influencers weren’t being noticed until they had reached well over 50,000 followers. Why? Because the term ‘influencer’ and the benefits that they can bring was still new to everyone. Then, brands, businesses and probably even creators themselves were under the impression that the more followers you had the better. And, while there is no such thing as too many followers, what many people were yet to learn was that there was much more that could be done with those with a smaller following.
So, when the term micro-influencer was recently brought into the mix, there was not only a surge in new online creators, but it changed the way brands approached influencer marketing, choosing instead to work with multiple micro-influencers instead of one big name.
What Are The Benefits of Using a Micro Influencer?
1. Their Followers See Them As Friends
According to a recent study, 82% of consumers are ‘highly likely’ to follow a recommendation made by a micro-influencer. Why? Because they have formed a relationship built on trust, friendship and honesty with their followers.
While we’re not saying that followers are under the impression they are legitimate BFFs with the micro-influencers they follow, we are saying that the word of these influencers has as much authenticity as a friend’s would. The way influencers film and edit their paid videos is done in such a way that wouldn’t be out of place in a genuine conversation with a mate.
Whether we admit it or not, everyone loves the satisfaction that comes when someone well-known acknowledges a tweet or comment we have made. And, because micro-influencers have less followers, they are able to manage and interact with their followers in this way much more easily than someone with millions can.
All of this is only ever going to be good news for a brand that has teamed up with a micro-influencer as their recommendation has already made an authentic influence on purchasing decisions.
2. They Are Better For Budgets
If you scroll down the Insta feed of a top celeb or influencer, you will probably notice that sponsored posts are actually few and far between.
Quite frankly that’s down to the simple fact that many brands’ budgets don’t stretch far enough. Just to add a little context to this point, top beauty influencer Huda Katta can charge up to £26k per post, and if you want to work with Kylie Jenner then you better have up to something closer to £800k going spare.
So, you’re working with a smaller marketing budget, you can breathe a sigh of relief and find comfort in knowing that micro-influencers are not only becoming more widely acknowledged but are also providing a clear return on investment and a cost-effective alternative.
3. They Deliver High Engagement Rates
You look on an influencer’s Instagram and spot they have millions of followers. Your instant thought is ‘wow they must have a huge influence over their followers’. And, while they still get an impressive number of likes, their overall engagement figures may not be so impressive.
When someone’s following reaches the 100,000 mark, their engagement drops by 20% and that’s due to the fact their followers are not as authentic as a micro-influencer’s would be.
Micro-influencers’ followers are highly engaged community. Their fan-base is made up of people who genuinely want to actively engage in what the influencer posts, whether it be through likes or comments. Most likely, they have been following their journey from just starting out, to riding through the influencer ranks.
On the flipside, an influencer with millions of followers has a number of different groups within that following – those that engage, robots, fake accounts, spam accounts, inactive users and journalists. The latter five of which, as a general, do not follow to engage, but follow to keep an eye on their movements.
So, let’s put that into some context. Take Kendall Jenner – she has an impressive 101 million followers on Instagram - then take a look at her most recent post. The video was liked by only 6,006,639 of the 101 million. So, that means less than 10% of her followers actually engaged with the post. The post was either not seen, not engaging, or made no impact on the remaining 94,993,361 followers. However, whilst this may seem a little surprising or even unimpressive, it is worth noting that her one post did still reach over 6 million people.
So whether you choose to work with a well-known macro influencer or an up and coming micro influencer, you are guaranteed to still get great results and results that are far better than more traditional marketing methods. As thought-leaders within their community, they are a great way for even small businesses to connect with everyday people and promote their products or services across multiple social media channels.
Influencers of all sizes are continuing to be an essential part of the marketing mix for many brands and if you’re not already, it’s something you should be considering for growing your business.
At Influencer Matchmaker we work with micro-influencers who can provide a great boost for your brand. To secure a collaboration that works for you, contact the team on 0203 9580 427 or email [email protected].