Micro-influencers have become the latest buzz-word on the tongues of marketers around the world. It is often thought that bigger the following, the greater the persuasive power of an influencer. However it is becoming clear that this is not the case, and so micro-influencers have become the hottest trend in social media marketing.
But what are they, and how can they help your business grow?
First thing to remember is that micro-influencing isn’t about thinking small, it’s about thinking focused.
A micro-influencer can be anyone with a social media account that has roughly between 1K and 100K followers and will often have a specialised niche topic, like fitness or fashion that their content centres around. Audiences are often more engaged with their content and consider them more authentic than celebrity influencers with millions of followers. It also means that it can be much more affordable to enlist their help to promote the products or services of your business.
There have been several studies conducted to validate the effectiveness of this type of influence marketing, and I’ve summarised their results into the following 7 stats-backed facts. Each one serves as convincing evidence as to why your business should consider including micro-influencers into your digital marketing strategy.
Few businesses can boast to have the budget to have Selena Gomez promote their business to her 132M+ followers on Instagram. Even a lesser Instagram celebrity with only 7M+ followers can come with a hefty $150k price tag according to Forbes. However…
According to a study conducted by New York based company Bloglovin, 97% of micro-influencers on Instagram charge no more than $500 for a branded post.
While the study found Instagram to be the most effective at engaging audiences, the visual format of the platform may not be suitable for all businesses. In that case maybe your story could be better told through a Facebook or Blog post…
87% of Bloggers will charge less than $500, and 97% of Facebook Influencers will charge less than $100 per branded post.
The power of micro-influencers lies in the authenticity of their recommendations. By focusing their content in a specific market or niche, audiences find the recommendations and product stories published by micro-influencers to be more reliable and credible than similar content published by those with a broader content scope.
82% of consumers are “highly likely” to follow a recommendation made by a micro-influencer according to a study conducted by Expercity.
With smaller audiences, micro-influencers are able to give the impression of friendships rather than fanships with their followers. The intimate relationships they are able to create with their audiences allow their content to feel far more genuine and customer-centric than overly commercialised celebrity endorsements.
Expercity also found that 94% of audiences find micro-influencers to be more knowledgeable, and 92% found them to be better at explaining how the product worked than the recommendations of an average person.
A study by Think with Google found that 6 out of 10 millennial YouTube subscribers would follow advice on what to buy from their favourite creators over their favourite TV or movie personality.
Many often wrongly assume that to have a strong social media presence, one must have millions of followers. But, micro-influencers are able to create strong impacts through taking the time to engage with their smaller audiences. A study by Markerly found that as an influencer’s following increases, the rate of engagement will actually decrease. The sweet spot for reach and engagement seems to be between having 1k and 100k followers.
Those with 1k-10k Instagram followers generally received likes on their posts 4% of the time, and generate comments around 0.25% of the time, compared to those with 10M+ followers who earned likes only 1.6% and comments 0.04% of the time.
This trend of engagement has been found to be particularly strong with millennial’s, who believe that “Creators are at the heart of the cultural zeitgeist”.
70% of teenage YouTube subscribers say that they relate better to YouTube creators, and are 3x more likely to view, and 12x more likely to comment on their content, than that of traditional celebrities.
So that’s 7 good statistical reasons to consider micro-influencers as part of your digital marketing strategy. However there are a couple of drawbacks to this strategy that you should keep in mind:
*It can be a lot of work to manage: To optimise your reach it’s common practice to bring on board several influencers to promote your business. This can mean a lot of back and forth with multiple people.
*Usually works well with visual products: If this is not the case for your product or service, than it can taking a little more creative thinking to make it work.
Do you know of any other perks or drawbacks to micro-influencing? What brands have you seen use this strategy effectively? Comment below to let me know.