The rise of social media platforms has helped marketing experts to refine their understanding of how to effectively target audiences and communicate core brand messaging in ways consumers are most receptive to. Social media has also provided a space for online influencers to grow an engaged audience, which can be hugely valuable to businesses aiming to increase their reach and boost their sales. Influencer marketing isn’t anything new. In fact, it is now so well-established that for every $1 spent, $5.78 is generated in earned media value [1]. So, when executed correctly, influencer marketing campaigns can be enormously powerful. Research indicates that 92% of consumers find recommendations from people, even those they don’t personally know, more trustworthy than brand content [2] and 70% of millennial consumers report that peer recommendations play a significant role in their purchasing decisions [3].
Bigger isn’t always better
Although the old adage says that bigger is better, data increasingly suggests that this isn’t always the case when it comes to influencer marketing. In fact, the most innovative influencer marketing companies have very quickly discovered that the most popular influencers aren’t always best placed to deliver the strongest outcomes. Instead, brands should consider partnering with influencers who have invested time into developing and nurturing a genuine connection with their audience, particularly because trust plays such a central role in every successful influencer marketing campaign. And this is precisely where the micro-influencer comes into play.
What is a micro-influencer?
Micro-influencers generally have an audience in the tens of thousands rather than the hundreds of thousands and have crafted a solid reputation for creating engaging content in a recognisable niche. Their audiences are often hyper-engaged and at this level there are a lot of opportunities for brands to secure a variety of beneficial outcomes from their investment.
Advantages of working with micro-influencers
Connecting with the right micro-influencer is key to creating and implementing a successful campaign. Influencers with millions of followers are now viewed more like celebrities. Conversely, however, the relationship between many micro-influencers and their audiences feels more like a friendship. The relatability factor plays a key role in how credible an influencer is perceived to be and working with a trusted influencer can drive a significant return for brands aiming to connect with a wider audience base. Research has revealed that although influencers with more than 10,000 followers have an engagement rate of 3.6%, this increases to 6.3% in influencers with 5,000-10,000 followers, and further increases to 8.8% for influencers with between 1,000 and 5,000 followers [4]. Although bots and fake accounts frequently target successful influencer accounts, this is much less of a concern with micro-influencers and their engagement is more likely to be genuine. The influencer marketing landscape has taken a marked step towards quality over quantity over the last 12 months and this is something that is set to continue into the future.
Meet the team at Crowdify, we run successful influencer campaigns finding influencers of all sizes for brands.
[1] https://buffer.com/resources/influencer-marketing-podcast/
[2] https://buffer.com/resources/influencer-marketing-podcast/