What is the buzz over influencer marketing?
Influencer marketing has been embraced as one of the most effective channels in helping companies drive higher returns on investment (ROI). 80% of marketers say influencer marketing is effective, and 89% say it works just as well (if not better) than other marketing channels.
Whilst marketeers first started leveraging influencer marketing through engaging popular celebrity influencers, engaging micro-influencers are rising in popularity within the marketeer community.
Well, you may be asking why would a company engage someone with less following to drive their marketing campaigns? Let’s discuss the difference between the two, and reasons why micro-influencers can effectively help your company.
What’s the difference between micro-influencers and macro-influencers?
- According to Mavrck, micro-influencers are everyday consumers or employees who have 500–10,000 followers.
- On the other hand, macro-influencers are executives, bloggers, and journalists who have 10,000–1M followers.
Why should you work with micro-influencers?
1. Consumers trust micro-influencers more.
- Micro-influencers tend to have a stronger connection with their followers. Hence the chances that your brand will gain trust by association is high. Moreover, micro-influencer marketing would definitely look more natural to consumers as compared to other forms of advertising since micro-influencers integrate your product or service into their platform organically and seamlessly.
2. Higher engagement and conversion rates
- Micro-influencers’ accounts boast up to a 60% increased engagement rate as compared to macro-influencers.
- In fact, in general, the engagement rate of an influencer peaks in the early thousands and starts to plateau after around the hundred thousand mark. They also offer 20% higher conversion rates that can help your brand boost sales.
3. Lower Cost
- The cost of engaging an influencer is dependent on the size of their following.
- Naturally, engaging micro-influencers who have a smaller following would be a more cost-friendly option to your business.
- Furthermore, micro-influencers who are trying to grow their career would go the extra mile to serve their paying clients. This would bring about a greater ROI for your company!
4. Multi-Market Reach
- Due to the lower costs of engaging a micro-influencer, it would also mean that you would have extra budget to work around to engaging multiple micro-influencers from different market segments for your campaign.
- This would help your brand reach a broader range of target audiences that could have been missed out if your company chose to engage with a single macro-influencer.
5. Niche Market
- Micro-influencers have smaller, more targeted audiences that can help your company drive more effective engagement and conversions if you’re trying to target a specific niche market.
Now that you know why you should work with micro-influencers….
Consumers these days are getting more savvy with the amount of information they are able to retrieve from the internet. They do their own research on the products that are being advertised to them. Therefore, they are no longer as easily swayed by brand advertisements.
This is why engaging micro-influencers for your brand campaign is so effective as micro-influencers have established great credibility, trust and personal connections with their followers.
Identify your company’s business goals and objectives before choosing what type of engagement methods are the best!