Spend less on micro influencers and make the most impact with audiences
Every brand wants a celebrity like Taylor Swift, Michael Jordan, or Cristiano Ronaldo to be their star influencer.
Not many can afford them.
Micro-influencers are more affordable and effective in driving sustainable brand engagement.
Bigger scopes with micro
Celebrity influencers make up just 28% of annual influencer spend, compared with 40% for micro-influencers, per Rakuten, a Japanese electronic commerce and Internet company based in Tokyo.
Nearly one-third of all Instagram channels are micro influencers, per InfluencerDB, Europe’s leading influencer marketing technology company, wrote Business Intelligence (BI).
Micro-influencers are perceived as thought leaders with expertise in a particular niche, typically charge less than celebrities, but their more targeted, engaged audiences still drive strong returns.
“For a micro-influencer, a good engagement rate can be anywhere from 10% to 15%, compared with 5% to 7% for a mid-tier influencer, and 1% to 2% for a macro influencer,” Katie Fé Delane, talent manager at influencer agency Socialyte, told Business Insider Intelligence
What is a Micro-influencer?
Micro-influencers are individuals that have between 1,000 to 1,000,000 followers and are considered experts in their respective niche markets.
They could be a food blogger, traveller, a local fashionista, or a fitness guru - just to name a few.
In fact, influencers with 1,000 followers generated 85% higher engagement than those having 100,000 followers.
With a smaller number of followers, micro-influencers followings tend to see themselves as peers of the influencer rather than fans - and 84% of consumers say they trust recommendations from peers over advertising.
Compared to celebrity influencer accounts, micro-influencers are able to interact with their audience more frequently via likes and follows, and respond to questions/comments in a quicker manner, thus perfect advocates for company brands.
A micro-influencer is much more affordable. On average, the rates hover around $1,000 per post for those with 100,000 followers.
Top industries where micro-influencers perform are: Fashion/ Beauty; Home/ Family; Travel/ Lifestyle; Business/ Tech and Entertainment.
Locating micro-influencers for your business?
Beyond working with agencies to locate talent, brands can also find micro-influencers organically.
“An influencer might attract a brand's attention by tagging it in a piece of sponsored content. Even if they don't have a relationship with the brand, budding influencers looking to land deals with brands are creating so-called fake sponcon,” said BI.
Look for those who drive a particularly high engagement in social.
The most appealing thing an influencer can do is create a narrative and story along with the product.
Followers can very quickly sense if the person is just pushing products and will get turned off.
Watch this video to discover how to search for micro-influencers: