A newer concept known as micro-influencer marketing recently joined the marketing scene and it's really shaking things up.
We'd become fairly resistant to the effects of traditional print, television and radio advertising; and then complacent again after the rolling wave of facebook, email and google display advertising; only to have this phenomenon creep up on us whilst expecting it the very least.
What is it?
Hubspot defines micro-influencers as "social media users unlike typical celebrities, experts, or public figures. They're individuals who work or specialize in a particular vertical and frequently share social media content about their interests."
So unlike traditional "influencers," micro-influencers have a more modest number of followers -- typically in the thousands or tens of thousands -- but they boast hyper-engaged audiences.
That's the catch. It's the engagement. Yeah you can be Selena Gomez and have 130m followers but you'll find that if we were to compare her conversion rate to that of a micro-influencer like Simnett Nutrition with a modest, highly targeted audience of 40k; that Simnett would come out on top.
Posts by micro-influencers receive a healthy amount of engagement relative to the size of their following. This makes their followers more susceptible to product placement.
This graph by Markerly shows that around the 1000k mark is the sweet spot for engagement.
Markerly recommends brands pursue micro-influencers with Instagram followings in the 1,000-10,000 range. With micro-influencers, brands can achieve higher engagement rates among a large enough audience.
Cost of micro-influencer marketing.
Micro-influencers are typically more affordable than celebrities or profiles with millions of followers. Celebrities sometimes charge up to $75,00 for a single Instagram post promoting a product.
In contrast, 97% of micro-influencers on Instagram charge less than $500 for a promotion post. Granted, brands usually work with more than one micro-influencer to maximize reach, but even 100 micro-influencers would cost less than a single celebrity on Instagram at these rates.
Micro-influencers are real people, so their Instagram content is real, too. Instagram users with a few thousand followers likely post their own content, reply to comments, and behave more authentically than a brand or a celebrity with a social media manager might.
If a micro-influencer engages with a promotional post on Instagram, their followers might be more inclined to click to learn more about the brand they're posting about.
Should you use micro-influencers?
There are a few downsides to this strategy. Notably, micro-influence works well on Instagram with visual products, such as a bright can of sparkling water or an eye-catching outfit.
This might not be the best strategy for promoting complicated software or other technology. But remember, you can be creative. As long as you can find a micro-influencer to share an Instagram post that's compelling, you might be able to generate much more engagement.
Additionally, it's a lot of work to work with several micro-influencers. Brands have to reach out to them on Instagram and manage several different relationships.
However, Depiction Studios thinks the payoff is worth it for authentic and engaging Instagram posts.
What do you think?