 |
Last month, we wrote about the rise of brand influencers on social media. Today, we are getting a closer look at a new breed of influencers - Micro Influencers and why they are gaining more popularity to brands over celebrity endorsements. Sure celebrities and top personalities have a huge following; one promotional Facebook or an Instagram post or a tweet could launch a product to success or popularize a brand in such a short span of time. True enough, it has a sizable range of following and reach. But the truth is, influencer marketing has a hefty price tag to it that not everyone can afford. This means that it can take a toll on your ROI.
The good news is that budding brands and startup business have an option to tap into the influencer marketing strategy without harming their ROI. This is one reason why brands are slowly turning their eyes on micro-influencers. A report from Influence.co says that a micro-influencer with 1000 to 2000 followers charge an average of $137 - $258 per Instagram post. Upon reaching 100,000 followers, their rate increases to around $400 per post and as much (this accounts for 97% of micro-influencers according to Bloglovin). Influencers with more than 1 million followers can charge as much as $1400 for a single post. Still, this could be a fraction of what brands pay a celebrity influencer for one post or one campaign-long contract.
Micro-influencers have smaller followings, in thousands or at most tens of thousands compared to celebrities or “tier 1” influencers. They are everyday consumers who have significant media following. Hubspot has identified them as “individuals who work or specialize in a particular vertical and frequently share social media content about their interests.”
Micro influencers to have a higher density of attention from their audience. Tier 1 influencers can have millions of likes and impressions. But studies show that an influencer reaches the peak of its likes and comments upon reaching 1,000 followers. An influencer with over 100,000 followers will have a lower ratio of engagement. This means that people tend to engage more with someone that they can relate to much closer. Micro-influencers tend to attract a smaller crowd. But do not undermine, this following could have a strong attachment to micro-influencers, can relate to their stories in more meaningful ways, have a greater overlap of interests, and have more significant interactions. What does this tell us? Followers are more likely to buy a product or idea endorsed by a micro-influencer that they already trust and have a more personal encounter with.
Micro influencers have a more limited reach so if a brand is considering this strategy; careful planning is the key. The following are essential things to consider:
Goals - Be clear about what you want to achieve. If you are targeting more leads, there are micro-influencers who regularly host contests and giveaways on their social media accounts. Some of them encourage followers to sign up in exchange for free trials, new products or exclusive access to events.
Followers. - This is an important factor because the followers of a micro influencer are your real target. These followers should fit into the buyer personas of your brand. Things like location, gender, profession, social status, etc are important information about their followers.
Relevance - A micro influencer who is already a fan and posts positive experiences about your brand is more likely going to be natural and genuine; and thus, effective. Since they are fans, they are likely to negotiate lower fees or work with you in exchange for products or services. A general search of blog posts mentioning your brand could get you to the sites of top influencers in your niche. Hubspot also cites a tool that has an integration with their CRM, Gatsby.ai that can help you reach out to potential influencers. It searches your customer database for influencers who bought your products and have posted about them on various platforms.
Also, micro influencers create their posts to project their own brand image. It is best to scrutinize that their image matches with your brand’s identity.
Audience Engagement - Engagement is one of the key metric indicators to determine the effectivity of this marketing campaign. Likes are good, but comments and shares show higher engagement level since this takes more effort than clicking the like button. It takes a compelling post to get your audience to share or comment.
Platforms. According to Hubspot, 80% of micro-influencers prefer Instagram as a venue for creating and publishing their content, but most of them are also active on their blog sites and social media platforms. Their presence in more platforms means more exposure and advantage for you.
Mats Stigzelius, co-founder and CEO of Takumi, an app which matches brands with users says that influencer marketing is still in its early stage but could be a major marketing channel in the next five years or so. Brands are increasingly turning to social media influencers to reach customers through organic means. More companies are noticing the opportunities around influencer marketing and are coming up with ways on how brands to benefit from it. Check these out: Dovetale provides data in an easy-to-use influencer marketing toolset, Fohr Card provides automation tools to help you manage your campaign. The like of Social Mention and Mention to help you find users who are talking about you and your products.
Clare O’connor of Forbes gathered top social media influencers who’ve become household names. Check out this list.
0 comments:
Post a Comment