Influencers, which are individuals who utilize their online presence and credibility to sway their followers’ opinions, represent a huge opportunity that many brands are missing out on. In 2022, the influencer market in the U.S. was valued at a record $16.4 billion. Yet only 1 in 4 marketers currently leverage influencer marketing.
Often, the high costs of working with top internet personalities prevents brands from pursuing them, but there is growing interest in more accessible micro-influencers, which, as the name suggests, don’t have the follower count of a celebrity or a traditional influencer but command respect within their respective niches.
Given their unique advantages, micro-influencers have become crucial partners for brands looking to connect with audiences on a more personal, authentic level. However, finding the right influencer and building a strong relationship with them requires a strategic approach.
The History of Influencer Marketing
Since the beginning of modern advertising, brands have partnered with influential figures to promote their products or services. But with the advent of social media, this concept took on a new life, expanding beyond celebrities and high-profile individuals to everyday people who have cultivated significant followings on various platforms.
In the early days of social media marketing, only the biggest influencers were sought after. However, as social media platforms evolved and user behavior shifted, marketers began noticing the limitations of this approach. Although these influencers provided extensive reach, the return on investment wasn’t always proportional. Engagement rates were often lower, the audience was broad and not very targeted, and consumers began to question the authenticity of celebrity-endorsed products.
That realization paved the way for micro-influencer marketing. Brands can now target their efforts towards a specific, engaged audience. The more personal connection that micro-influencers fostered with their followers also added a layer of authenticity and credibility to their endorsements.
Micro-influencers have become crucial partners for brands looking to connect with audiences on a more personal, authentic level.
Influencer Channels and Levels
The most used channel for influencer marketing in 2022 was Instagram. But 45% of marketers said they also used TikTok and that number is forecast to rise. Also in 2022, 52% of marketers used Facebook for an influencer campaign, and influencer videos accounted for 60% of all video views on the platform that year. YouTube is also an effective channel for influencer content, with 28% of U.S. consumers saying they follow at least one virtual influencer on the video sharing platform. Plus, micro-influencers on YouTube lead in engagement rates.
Classifications of influencers revolve around the number of followers they have:
- Nano: Under 1,000
- Micro: 1,000 to 100,000
- Macro: 100,000 to 1 million
Micro-Influencers vs. Traditional Influencers and Celebrities
One of the most prevalent misconceptions in digital marketing is equating the impact of influencers solely with their follower count.
Micro-influencers might not be able to command the attention of wide audiences but they have a more intimate and engaged follower base. They’re viewed as peers, friends, or knowledgeable insiders, which contributes to a sense of authenticity and trust that’s difficult for traditional celebrities to replicate. This dynamic often results in higher engagement rates. For example, a study found that micro-influencers generate up to 60% more engagement than macro-influencers.
There’s also a matter of perception. Traditional influencers and celebrities often promote multiple products or brands, which can lead to their endorsements being perceived as less genuine. On the other hand, micro-influencers are seen as more credible because they tend to partner with fewer brands, and those they do align with often closely match their personal brand and values.
Brands can target their efforts towards a specific, engaged audience.
The Advantages of Micro-Influencer Marketing
Micro-influencers hold a unique position within the influencer marketing spectrum. They balance the scale between reach and engagement, providing a targeted yet substantial audience. This balance, along with other inherent characteristics, makes micro-influencer marketing highly advantageous for brands.
- Increased Engagement: Micro-influencers have a close relationship with their followers, leading to high levels of interaction. This increased engagement often translates into higher conversion rates.
- Credibility and Authenticity: 72% of Gen Y and Gen Z follow influencers on social media, and 50% of Gen Y trust product recommendations from influencers, but only 38% trust product recommendations from celebrities. Micro-influencers are often perceived as even more trustworthy and authentic than their higher-profile counterparts which makes their endorsements more influential.
- Hyper-Targeted Audiences: The area of expertise of micro-influencers is specialized within their niche, meaning their followers share specific interests. Brands can leverage that relationship to reach a hyper-targeted audience that’s more likely to be interested in their products or services.
- Building Personal Connections: Micro-influencers can help brands build a more personal and relatable connection with their audience. They humanize the brand, making it more approachable and appealing to potential customers.
- Expanded Brand Awareness: While micro-influencers might not have the reach of a macro or mega influencer, they still provide brands with exposure to a substantial audience. This exposure helps increase brand awareness within the target market.
- Cost-Effectiveness: On average, businesses generate $6.50 in revenue for every $1 invested in influencer marketing. Micro-influencers typically charge less than larger influencers for partnerships. That fact, combined with their ability to drive engagement and conversions, can lead to a high ROI.
- Passion and Energy: Micro-influencers are often passionate about their niche, and this enthusiasm is infectious. They and their followers can bring energy and excitement to a brand, helping to drive engagement and generate buzz.
Micro-influencers have become crucial partners for brands looking to connect with audiences on a more personal, authentic level.
Finding and Leveraging the Right Micro-Influencer
Identifying the perfect micro-influencer for a brand is a critical step in any influencer marketing strategy. Each influencer brings their unique flavor and audience, so finding a fit that aligns with the brand’s values and goals can significantly boost the effectiveness of influencer campaigns. Here are some key considerations:
- Evaluate the Influencer’s Track Record: Look at the previous partnerships the influencer has had. Have they been successful? Do they align with the brand’s values? Are the sponsored posts authentic sounding or do they feel forced?
- Gauge Follower Engagement: An influencer’s follower count is just one piece of the puzzle. Also take a look at the comments and likes on their posts. High engagement indicates an active and interested follower base.
- Maintain Authenticity: Allow the influencer to maintain their voice and creative freedom. Their followers value their unique style, so keeping content organic and genuine is key.
- Provide Adequate Support and Resources: Micro-influencers may not have the same level of resources as larger influencers. Providing them with necessary support, be it creative assets, product information, or even content creation tools, can enhance the quality of the content they produce for the brand.
Tap Into the Future of Hyper Targeted, Authentic Marketing
Consumers are increasingly discerning and skeptical of traditional advertising, and micro-influencers offer a fresh, authentic, and effective way to reach and connect with audiences, which is why it’s past time to pay closer attention to the micro-influencer revolution.
Hanlon works at the cutting-edge of digital marketing. If you would like to learn more about how our strategic insights can accelerate the growth of your brand, please contact us today.