Influencer marketing on social media has taken off, and is now a ubiquitous marketing channel for any savvy digital marketer. But much like the rest of the internet, the choices seem endless. The knee-jerk reaction tells us bigger is better, but is that really the case?
There are a lot of things to look for in a social media influencer when choosing the best fit for your business. So let’s look at the pros and cons of micro influencers vs macro influencers.
Macro Influencer Marketing
Brands approaching macro influencers pay big bucks to tap into the engaged, and trusting follower bases they command - and can see some incredible numbers in terms of engagement and visibility as a result.
Looking into the data on the increase in engagement through influencer collaboration, we found that an account with between 250k and 1m followers would benefit dramatically, with potentially over 1000% increase in engagement from a single post by a well-positioned influencer with 1m+ followers.
But bigger isn’t always better, consider the new kid on the block: micro influencers.
Micro Influencer Marketing
Don’t let the smaller numbers fool you, when it comes to audiences, the adage “it’s not the size, it’s what you do with it that counts” really holds true. Micro influencers prove this rule with impressive prowess. That authenticity and approachability really seems to pay off. What they lack in reach compared to their multi-million follower siblings they more than make up for in engagement.
Micro influencer accounts boast up to a 60% increased engagement rate compared to macro influencers. In fact, in general, the engagement rate an influencer has peaks in the early thousands and starts to plateau after around the hundred thousand mark.
Therefore, if you’re really looking for engagement and conversion, don’t shy away from micro influencers. They’re an increasingly important aspect of social media influencer marketing and they boast some impressive advantages over big name alternatives. This is both true if you’re a smaller business and don’t want to blow your budget on one or two posts or a more agile big business. You can even pair up with multiple micro influencers for about the cost of a single collaboration with a macro influencer to mitigate some of the loss in reach you’ll encounter with the micro alternative.
Influencer marketing can bring incredible value to your business, want to explore further? Here are 9 reasons why you need to embrace influencer marketing.
How to choose your ideal social media influencer
If all you are looking for is reach, and you have the budget to pull it off - celebrities are the powerhouse accounts you want to get in touch with. If you’re looking for wide reach and engagement, but not necessarily a high conversion rate, macro influencers are here to help you out.
Meanwhile, micro influencers should be your go-to for conversion rate. They can convert customers cheaper and more efficiently than any of the other options, making them a powerful option to boost your ROI. They may even be more cost-efficient than your own campaigns if you collaborate with the right micro influencers!
Given that they are cheaper than the big name social media influencers, you can even counter the downside of their decreased reach by working with more at once! You may even find that this is a much more cost-to-value efficient way for your business to get into influencer marketing.
Once you’ve chosen the influencers you would like to work with, it’s important to keep track of the campaign’s success! Here are 5 ways you can measure your influencer marketing.
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