Influencer marketing, which was there as a successful marketing strategy, has also proven its capabilities in the digital online marketing. When it comes to digital marketing, we may have to thank platforms like Instagram, which made influencer marketing so popular and useful with millions of followers (dollars in other words) cashing on it.
Micro-influencer marketing is a big deal in this line. This strategy is a bit different from conventional influencer marketing, and many of the brands including the big shots like Daniel Wellington and the Banana Republic succeeded in executing successful micro-influencer marketing campaigns by tapping the potential of social sharing platforms.
Influencer marketing vs. Micro-influencer marketing
For someone who is planning to work keenly on digital marketing, it is essential to know the nuances of conventional and new-age marketing strategies which work well on this fast-changing platform to enjoy the best results.
At first, we will try to understand the basic concepts of influencer and micro-influencer marketing,
- Influencer Marketing
It is the form of marketing in which product and services are Influencer marketing entails marketing services and products to the needy by those who have a typical sway over such things other people tend to buy. Such market influence stems from the popularity, expertise, and reputation of the individuals who promote it. It is similar to referral or word of mouth marketing as the influencers’ audience typical takes it as a personal recommendation.
Influencers need not have to be a person, but it can be a group, brand, or any other such entity which has a repute and value. Most often, celebrities are used as influencers to market products as they are the most visible and highly respected individuals in society. When a celebrity claims he or she uses a particular product, it gets a better exposure and respect from that endorsement.
In the world of online marketing now, bloggers are considered to be the most important influencers because as they are regarded as more authentic by the loyal followers. When a blogger reviews and recommends a product, it seems to be more trustworthy and genuine than the traditional ads. By using such influencers, sellers also can avoid the kind skepticism and cynicism usually associated with conventional marketing messages.
One among the significant drawbacks of influencer marketing is the fact that it is not as controllable when compared to traditional marketing. While many of the influencers add a positive value to a product or services, those who encounter some fallouts may also negatively affect the repute of a product.
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- Micro-influencer marketing
A micro influencer is a person or brand who has a significant number of followers; however, not massive as a celebrity influencer. The ideal followers to be counted as a micro influencer is anywhere between 1000 and 100000 followers. While the big-shot Instagram influencers may have attained celebrity status, which the followers also know, micro influencers may be more like an everyday consumer, who may sound more relatable and trustworthy to the actual consumers.
Often, the Instagram influencers with thousands to millions of followers lead lives that are not normal, and their feeds may look like something more like an inspirational lifestyle, which the followers may dream of, but not relate to their actual being. Comparing to this, the 1000 to 10000 Instagram followers may no ideally be paying their rents by cashing their Instagram sponsorships, and their feeds too may be more in line with what an influenced may go through in real.
Benefits of micro-influencer marketing over conventional marketing
The primary benefit of influencer marketing is that the message can be taken to many people through a single post. It helps gain more Instagram followers quickly and help raise a better awareness about a new product or product line campaigns. However, an influencer is marketing is often quite expensive and may not fit into the budget of many small-scale businesses. Here comes the advantage of micro-influencer marketing which charges comparatively lesser than the former. With this approach, brands can cut the cost significantly and also ensure a better ROI.
Another significant advantage, as discovered through a couple of studies by Markerly and HelloSociety, is that micro-influencers with a smaller following do have a higher engagement rate than the top celebrity influencers. Both of these studies had shown a trend that the engagement rate proportionately drops as the audience size is increasing.
Measuring micro-Influencer impact
It can be identified that micro-influencers are now more beneficial that influencer marketing, and you need to know about how to measure the impact of your marketing campaigns before switching to micro-influencer marketing. Some of the performance metrics to measure the impact of your campaigns are:
- The rate of engagement as comments, likes, and shares
- Checking out how people talk about / comment about your brand (brand sentiments)
- Customers landing on your website from the influencer post
- Actual conversions and ROI
In any case, the key to success is identifying the right ones among the micro-influencers in your niche to rely on. Now, it is not merely the Instagram influencers who are creating the most influential content, and you need to leverage your micro-influencer marketing budget to get access to the best opportunities.
Kelly Wilson is an experienced and skilled Business consultant and Financial advisor in the USA. She helps clients both personal and professional in long-term wealth building plans. During her spare time she loves to write on Business, Finance, Marketing, Social Media. She loves to share her knowledge and Experts tips with her readers.