It’s very common to associate influencer marketing campaigns with celebrities that have large fan bases. We see the Kardashians promoting beauty products on Instagram and know that partnership must have cost a fortune. While that’s likely true, the other reality is that influencer marketing doesn’t have to include household names and six figure budgets, in order to be successful. Today I will outline macro vs micro influencers, and let you choose what will be more successful for your brand marketing.
There is a new trend towards working with Micro Influencers: relatable people that have loyal audiences centered around a particular niche. For example, YouTubers like Karl Conrad, have built a following of tech enthusiasts by regularly producing video content reviewing the latest technology products. These micro influencers are typically more affordable, easier to access and oftentimes, produce higher engagement.
There are a few reasons for the higher ROI that marketers can expect when working with micro influencers.
A MORE FOCUSED AUDIENCE
Celebrities who have gained popularity from working within the entertainment industry, tend to appeal to the masses. They attract a large group of diverse people who have varying interests and purchasing patterns. Not all of Kim Kardashian’s followers look to her as an authority in beauty, despite the paid influencer marketing campaigns she’s secured due to her following.
In the example of Karl Conrad, a YouTuber creating technology vlogs, he has an audience that views him as an expert in technology recommendations. He has positioned himself as a thought leader on the topic of tech products and his followers look to him when making decisions about whether to purchase the latest iPhone.
By working with a micro influencer that is creating content relevant to your brand, you can have more confidence that their followers are drawn to the influencer’s beliefs, opinions and authority within that industry.
When evaluating macro vs micro influencers for your brand, followers don’t give you any right answers. A macro influencer typically has a following of 1 million or higher, where as a micro influencer has an audience ranging from 1000-100,000 followers. It seems contradictory to think that the influencer with less followers will have higher engagement but it’s true.
The latest research on Instagram’s platform has found that engagement rates drop as the number of followers increases. Accounts with less than 1,000 followers have an engagement ratio (likes divided by number of followers) of 8%, those in the 1,000-10,000 follower range receive about 4% engagement and accounts with 1 million-plus followers, are receiving less than 2% engagement on their posts.
EASIER TO WORK WITH
It shouldn’t come as a surprise that getting a reply from Karl Conrad will be easier than hearing back from Kim Kardashian, but it goes further than the time saved from your outreach efforts.
Influencer marketing is a balancing act between reach and relevance; however, rates per post are most often determined by the size of the audience. Celebrities can charge up to $187,500 for a post on YouTube, $75,000 on Instagram and $30,000 for a post on Twitter. If you look at micro influencers on Instagram, 97% charge less than $500 per promotional post. You might also be interested in checking out our post How To Pay A Micro Influencer.
Micro influencers typically have less demands when it comes to their influencer marketing partnerships and will be less constricted by the types of content and brands they can work with.
These are the key factors shaping the effectiveness of influencer marketing campaigns and should be considered when making the decision to work with a macro vs. micro influencers.