Influencer campaigns have seen a huge surge in popularity over the last couple of years as brands catch on to the value of authentic user generated content.
As the technology of social media platforms continues to improve and user numbers increase, it is becoming easier and easier for brands to reach a wide engaged audience, driving heightened attention from consumers and ultimately, real positive business results.
In six years, the influencer market has grown by a whopping 865% from a $1.7 billion industry in 2016 to $16.4 billion industry in 2022 (Influencer Marketing Hub, 2022).
This growth has had a significant and lasting impact on how the influencer landscape looks today - originally only celebrities and established bloggers would meet the influencer criteria, but now the industry has shifted towards working with smaller niche-focused accounts, aka micro-influencers.
Micro-influencers have a following that can range from 5,000 to 50,000 and they cater their content to a loyal fanbase of people who share common interests or demographics.
Brands can decide on which content creator they’d like to partner up with based on their niche, some of the most common categories are gaming, fashion, travel, photography and beauty.
More and more businesses are incorporating influencer activity into their marketing strategies because it’s an opportunity to reach out to a very specific target audience with a strategy that has a predictable budget with the potential for a high return on investment.
High engagement rates
Bigger is not always better, as research shows that posts by micro-influencers have a 60% higher engagement rate compared to macro-influencers (Forbes, 2021).
This is because micro-influencers have a stronger relationship with their followers and therefore the audiences are more likely to actively engage with their posts.
There’s trust between the two parties, which is why the audience is receptive to recommendations and is more likely to purchase the promoted product or service.
Micro-influencers have grown their following from a community of people with similar interests.
Businesses can utilise this to reach their target audience, by partnering up with someone who serves their niche.
Followers look up to the influencer and value their opinions because of their expertise in the specific field.
They are more cost-effective
As the industry keeps growing, the fees influencers can command are also on the rise, and many companies don’t have a budget that’s big enough to afford working with the biggest names.
Because follower count is still one of the main factors in determining the level of fee an influencer will request, micro-influencers will usually charge much less and their engagement and conversion rates are higher.
Instead of paying a fortune for one macro influencer, a business can build a campaign using only micro influencers, reaching a wider variety of communities in the process..
People trust the opinions of micro-influencers because they feel as if it’s advice coming from a friend and not merely celebrity endorsement.
Micro-influencers are seen as ‘normal’ people who share the life experiences of their audience. This is reflected by the authentic content they create, content that resonates with their followers, which in turn can humanise a brand.
Micro-influencers have earned the trust of their fans, so the followers believe that they have sincere intentions behind the post and it’s not just published for the sake of making money.
They collaborate with small businesses and new brands
If you’re looking to achieve brand awareness for a new or small business then micro-influencers are the best solution because they’re more approachable and willing to work with newcomers.
Plus, if you maintain a good relationship with them then there’s potential for an ongoing collaboration with them, even after their account has grown bigger.
Contact Motive PR today to see how we can help you build a micro-influencer campaign that will engage new audiences and win advocates for your business.