Benefits of Working with Micro-Influencers
Influencer marketing is at an all-time high and has become more popular within the last few years. Influencer marketing is, what it sounds like, marketing with the help of influential individuals, mostly through the use of social media. Traditionally, influencer marketing involved influencers with an extremely large following - hundreds of thousands to even a million followers, until people started seeing almost better results with the use of micro-influencers.
Micro-influencers typically have an audience size of about 5k-50k followers. Micro-influencers have becoming increasingly popular due to their engagement stats. The audience of a micro-influencers will typically listen to their suggestions, over an influencer with an extremely large following. Due to the popularity of influencer marketing, people are starting to realize every post from a large influencer is “sponsored” or a “paid collaboration” so their recommendation is becoming less popular and less valuable.
Why is it Beneficial to Work with a Micro-Influencer?
As follower count increases on social media, the engagement tends to decrease. When you are paying to work with influencers, the cost per follower, in terms of engagement will be higher than if you partner with a micro-influencer.
When brands are looking for influencers to partner with, they search for the influencers with the most followers instead of looking at the influencers with the most engaged audience and the most relevant followers.
The good thing about micro-influencers, that is also part of the reason why they have a higher engagement, is that their followers are often much more targeted than followers of large influencers. Typically the entire audience of a micro-influencer will be interested in the niche of that influencer, opposed to a large influencer who has accumulated a large audience that may not particularly have interests under a specific niche.
Since influencers generally base their prices on follower count, micro-influencers are a lot more effective to partner with.
Their inexpensive rates makes it easier for virtually any brand, even brands with tight marketing budgets to set up influencer campaigns and not just huge corporations with million dollar budgets.
A survey conducted by Bloglovin studied the cost of partnering with micro-influencers, and this is what they found:
97% of micro-influencers will charge less than $500 for each Instagram post.
84% won’t charge you over $250 for each post.
With a budget of $5000, you can reach out to around 315,000 followers on Twitter, 200,000 people on Instagram, or 125,000 people on Facebook.
Although the affordable price, and relatively small following that micro-influencers have, you can reach the people who truly matter to your brand. This will allow you to get a higher ROI despite the low investment.
And considering the affordable price, you can partner with several micro-influencers at once and still reach a large number of targeted people, and drive great results.
As mentioned above, due to their loyal audience, micro-influencers have a much higher power of conversion.
Typically, micro-influencers are focused on one niche and topic, therefore they establish themselves as experts in that area. Loyal followers who are interested in that niche, are much more likely to purchase a product from a recommendation because they feel like the influencer is trustworthy and more credible.
A study has shown that 49% people say that they trust influencer recommendations to guide them in their purchase decisions.
If you’re a brand looking to partner with an influencer, but don’t know where to start, contact us! We would love to chat.