Unless you live under a rock, you know how common it is for brands to use influencers to promote their products and services online. According to Influencer Marketing Hub, in 2021, influencer marketing is expected to be worth nearly $14 billion and is expected to continue to expand.
As a marketer, you may dream about working with huge celebs to promote your product. Individuals with a great following may assist you if your goal is to increase brand awareness and reach as many people as possible as quickly as possible. However, celebs may not be your best bet if you want to build credibility and meaningful relationships with your clients.
What is the alternative? Micro-influencers may be your best bet.
Micro-influencers are individuals that have between 5,000 and 25,000 followers. They tend to have a niche following and are experts in specific topics (e.g., fitness, makeup, fashion, mommy blogger, tech, etc.). They have a sufficient following to reach a considerable amount of people without appearing inauthentic.
Effectively reach your target audience:
When selecting a micro-influencer, make sure you first create a buyer persona for your target customer. You may contact an influencer with an excellent knowledge base and following, but if they don’t match your core values and target customers, the partnership with not be fructiferous.
People are more likely to trust others who are like them. If your selected micro-influencer matches your target customer, they will likely greatly influence their purchase decisions as they are part of their reference group. Consider this, according to the Digital Marketing Institute, 70% of teens will trust influencers over celebs, and 49% of consumers use influencer recommendations.
Furthermore, consider the channel most suitable to reach your target audience. Most influencer marketing occurs via Instagram (over 67%); however, Tik Tok how grown considerably in the last few years and will likely continue expanding. Again, study where your target customer is likely to be a select and influencer that matches their preferred platform.
Less size = greater trust:
There is an inverse relationship between engagement and followers. So, as followers increase, engagement decreases. Why is this? Although there is no specific cause, target customers may perceive a lack of authenticity as influencers excessively expand their followers.
Consider this inverse relationship when selecting a micro-influencer for future campaigns. It is much more important to consider the quality of their content and follower interactions rather than the number of followers they have.
Greater bang for your buck:
Influencer budgets are all over the place, and there is no set standard of how much influencers charge for their work. However, it is generally accepted that the larger the influencer, the greater the compensation.
According to the Petal Team, smaller influencers can work via exchanges of goods (freebies), and most are paid anywhere from 0-$5000. Furthermore, some argue that once influencers have over 100,000 followers, they are paid $10 for every 1,000 followers. You can see how quickly this can add up!
If you have a limited budget, working with a micro-influencer can increase awareness and conversions without signifying a considerable investment for your business. Clearly state the terms of compensation and expectations in the agreement with the influencer of choice, and you should be good to go.
Consider working with a micro-influencer in your next campaign. Your ROI will likely increase, and you will have another tool under your digital marketing belt.
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