The Rise Of The Micro Influencer
Think back to a decade ago…
At that time (2013) “Blurred Lines” was the year’s biggest hit, before Marvin Gaye sued the song into irrelevance.
The final Iron Man film boasted the biggest domestic box office, before Marvel’s Phase 4 eventually hobbled the franchise.
Snowden happened. So did Obamacare. Pope Francis became the effing pope.
Yeah, it sure feels like a lifetime ago…
In the last decade, social media marketing has risen, surpassing legacy media as the go-to advertising strategy.
Blame technological and cultural shifts for disruptions in traditional marketing.
No longer is marketing limited to television, radio, and print. Any graduates that earned their MBA in Business Marketing within the last decade may have to go back to class.
The breadth of platforms available today for social media marketing purposes is INSANE. The market is crowded, with competition for brands vying for your attention cluttering every feed. Marketing amongst the community are the influencers, sharing their interests and identities, and getting paid handsomely to do so.
Spending on influencer marketing went from $1.7 billion in 2016 to $16.4 billion in 2022. With more influencers doing their thing on the internet, expertise has transitioned toward niche and organic targeting, offering genuine storytelling.
What Is Influencer Marketing?
Influencer marketing has a higher engagement rate than traditional forms of advertising (average engagement rate of 4.5% ), prompting over half of all brands to increase their influencer marketing budgets in the next 12 months over traditional legacy options. Short-form videos, coupled with stoppable links, are a lucrative content type for most creators and brands alike.
Marketing tactics for influencer programs include targeting and planning, launches, promotions, push video ads, and event marketing.
In 2023 we're seeing brands steer away from Macro influencers and turned to Micro influencers. This subsect has a smaller following and a niche audience. Micro Influencers are far more affordable partners for brands, plus they typically look to grow their own following as well. In other words, recruiting bigger doesn’t always mean better.
Who Are Micro Influencers?
As follower count increases, the cost to work with the specific influencer rises. Enter the micro-influencer – individuals that boast smaller, but highly engaged followings.
Because there is less spam and increased interactions, there is more trust, especially when it comes to trying a brand's products or services. These influencers typically have between 1,000 to 100,000 followers; their focus is often very specific. This results in a higher like rate in comparison to followership, as well as a higher rate of engagements. In fact, 82% of customers would be very likely to follow a recommendation from this type of influencer.
Benefits Of Micro Influencer Marketing
We are in a new era of media consumption. Brands still need to tell their story, find their outlet, and attract desired consumers. In turn, consumers choose who they listen to and trust.
The versatility of influencer marketing – in particular, micro – makes it a popular choice for brands looking to boost reach, build brand awareness, and drive sales in digital ways.
As both brands, consumers, and influencers operate together in the digital sphere, marketers need to establish these MUSTs in crafting a successful influencer marketing strategy:
MUST Reach a Niche and Engaged Audience
Influencers have built up a loyal following over time, which means that their followers are highly engaged and interested in what they have to say.
MUST Increase Trust and Credibility
When an influencer promotes a product or service, their followers see it as a personal endorsement. This makes the product or service more credible in the eyes of the consumer and increases the likelihood that they will make a purchase.
MUST be Cost-Effective
Brands are only paying for the influencer's promotion, and not for the cost of creating and distributing the ad. This is an attractive option for small and medium-sized businesses.
MUST target market
Brands can select influencers based on the niche they cater to and the audience they reach. This ensures that the right people are seeing the brand's message and that the brand is reaching its target audience.
MUST improve ROI
When done correctly, influencer marketing can result in higher conversion rates and a lower cost per acquisition.
Firebelly Marketing knows a couple of things about unlocking the power of influencer marketing for brands. Let us help you find the right influencers for your niche to ensure your message gets where it needs to go. Get in touch if you’re ready to implement an influencer marketing strategy for your brand.