With the growth of Instagram, a even larger growth has been seen in micro-influencer marketing. It’s the next big thing to hit marketing. Big brands like Bumble, Banana Republic, Frank Body, and Daniel Wellington adopting such strategy, odds are it works. Read more below to find out more of this new phenomena hitting the marketing world by storm. Follow some of these steps and you won’t go wrong.
Micro-Influencer Marketing in a nutshell is a person with a significant follower base, but not a substantial one. Followers could range to the thousands or one hundred thousands. It’s industry dependent. The upside to micro-influencers are that they are more relatable to your average instragammer unlike the celebrity status attained by the larger influencers.
A recommendation from a micro-influencer could be akin to that of a friend rather than a celebrity endorsement, which makes it more desirable on occasions.
The Advantages of Micro-Influencer Marketing
1) Price Points
When compared to the conventional influencer marketing, the reach is substantial. But however, they come at a steep cost. The costs associated with Micro-Influencer Marketing is far less, giving you more mileage for your investment. The costs Micro-Influencers charge in Sri Lanka could be as low as Rs. 2500-5000. There is also the option to trade in product (or vouchers) for promotion.
2) Greater Engagement Levels
Studies show that engagement levels of accounts with smaller follower bases are far higher. This proves to show that posts from Micro-Influencers are more likely to be seen by a higher portion of the audience.
3) Awe-inspiring User-Generated Content
Working with micro-influencers gives you the chance of obtaining awesome user-generated content (UGC). This could come at a minimal or no cost at all. UGC is known to be one of the most trusted content as far as purchasing decisions go. When reposted in your account, UGC can give it a beautiful visual.
Measuring Impact of Micro-Influencer Marketing
To measure the impact of your campaigns, it’s best to have a clearly defined goal. If your goal is to raise brand awareness, reach and traffic are good metrics to start with.
Finding the right Micro-Influencers
Micro-Influencers are like gloves, they have to fit correctly. Making sure their audience matches your target customer is a good start. This is where experts like us come in. Using our algorithms, we track hashtags that could be associated to your brand and find relevant micro-influencers.
For all you micro-influencers and influencers interest in joining the Hashtag Collective, please sign up here!