What is a Micro-Influencer and How Are They Helpful?
Updated: Jul 20, 2020
Influencer marketing has become a buzzword in the world of social media marketing. Its popularity has soared immensely in the past decade, and today, it’s become a term that a large number of people are aware of.
One of the major reasons for the influencer marketing boom is that the content created by social media influencers and bloggers is viewed as third-party content. As a result, it’s more effective than content created by the brands themselves.
In fact, 63% of consumers trust things that influencers say about brands as compared to what brands post about themselves. Additionally, 58% of consumers also mentioned that they’ve purchased products due to an influencer in the past six months.
However, influencer marketing comes with its own set of downsides. Many influencers don’t follow the FTC guidelines when posting sponsored content on social media and get penalized for it. This can harm your brand name as well.
There have been a few instances in the past when brands and influencers ended up on the wrong side of influencer marketing.
Some of the most prominent ones being the Lord & Taylor campaign and Diclegis. This is the reason why even FTC has come out with stricter guidelines that are meant to make influencer marketing campaigns more authentic.
Undeterred by these factors, influencer marketing continues to grow, and it’s expected to grow at 32.4% CAGR till 2024.
However, brands have started partnering more with micro-influencers than mega-influencers. Nearly 36% of marketers partner with micro-influencers as compared to just 30% with high-tier and celebrity influencers.
One of the possible reasons being that these influencers have fewer followers, and that makes them seem more trustworthy and relatable.
But isn’t popularity social media marketing?
Popularity’s importance has shrunk in comparison to relatability. In fact, relatability is 2x more essential for consumers to follow an influencer as compared to popularity. But that’s not the only advantage of working with micro-influencers.
There are numerous other reasons why they’re helpful for your brand. However, before diving deep, into the marketing aspect, let’s first try to understand what is a micro-influencer?
What is a Micro-Influencer?
Micro-influencers are those influencers who have between 10,000 to 100,000 social media followers. They are considered experts in their niches, which are usually highly focused. As a result, they tend to have higher engagement rates and niche audiences.
Additionally, due to their small audience size, they’re able to connect with most of them on a personal level. This makes their content and suggestions seem more authentic.
Want to know why?
It’s because, according to a survey, about 91% of millennials trust online reviews just as much as they trust their family and friends. And the bonds they form with micro-influencers leads to greater trust as well.
Thus, partnering with micro-influencers who are followed by your target audience can help you put your product or service right in front of them. Additionally, such content can provide social proof and improve your credibility as well.
Now that you know what a micro-influencer is, let’s take a look at how they can help you take your marketing strategy to the next level.
Pro Tip: Try to build solid relationships with micro-influencers before approaching them for a partnership. Strong, long-term relationships will help you plan and execute a successful influencer marketing strategy.
Advantages of Micro-Influencers
Let’s now take a look at what a micro-influencer is good at. Here are some of the advantages of partnering with micro-influencers for your campaign
1. Higher Average Engagement Rate
Nearly 89% of marketers say that Instagram is the most important channel for influencer marketing.
However, due to its effectiveness, the platform is getting overcrowded with sponsored posts. This has led to a reduction in the overall visibility and engagement of the posts and the average engagement rate of influencers has dropped drastically.
In fact, the average engagement rates of Instagram influencers fell to 2.4% in 2019 as compared to 4% in 2016. Similarly, the engagement rates of non-sponsored posts have also dropped to 1.9% from 4.5%.
Travel influencers aren’t an exception too. They had the highest engagement rates (an average of 8%) in 2018. However, their engagement rates also dropped to 4.5% in 2019.
The previously cited study by Mediakix also found that nearly 75% of marketers consider engagement rate as the top influencer marketing metric. Hence, marketers need to find and work with influencers