Micro influencers are the next big thing. While that might sound ironic, it’s the truth; these individuals not only have stronger fanbases but some that are more loyal and engrained in the culture behind the influencer’s brand.
If you’re not familiar, micro-influencers are the individuals on Instagram with followings ranging from 10,000 to 50,000, which while that’s no tiny audience, is one deemed a little more niche. One could argue micro-influencers work on a local level, but the definition is people who are big, but not huge. And if your business has been looking to boost its reputation a bit on Instagram, then micro-influencers can provide some of the best value you’ll ever see. Here are a few reasons why:
The Negotiating Table
A significant reason why a lot of businesses should be partnering with micro-influencers is that there’s a lot more room for negotiation. Quite simply, utilizing the formula of “for 10,000 followers means $1,000” or so doesn’t always work here, which is something both sides of the table need to be mindful of. As some micro-influencers can make the argument that their audience has a higher engagement rate (especially if they’re a local/geo-centric influencer), it’s not out of the realm of possibility to charge more than the standard market rate. However, for most businesses, it’s all about showcasing what value you bring to the table as well.
While we often consider hiring a micro-influencer as simply hiring someone to speak about our business or brand, these people are genuinely their own media companies. Not only do they hold a quantitative value in their followers and engagement, but they also hold qualitative value in brand equity. This is why both sides should come to the negotiating table with a clear mind of what they want out of the situation, as the goal here to create the best deal for both ends. Doing so will bring your business the right influencer at the right price for the long-haul.
Long Term Investments
When we think of micro-influencers strictly from a talent perspective, investing in the right people can be crucial. This lends itself to developing a relationship with an up-and-comer, as well as possibly being grandfathered in regards to price and accessibility. Additionally, this could also be a relationship where you both mutually benefit, especially if you’re able to provide value with your brand from the very start. While it’s ultimately up to you in deciding what micro-influencers will work best for your following and business, try to be mindful of the long-term investment at hand here, as well as who amongst your peers in the industry has the best chance of becoming a bigger sensation.
A New Method In Target Testing
Although underrated as a method of finding your target audience, micro-influencers can be a wise decision. After all, these individuals already have a built-in fanbase amongst a niche audience, which will help you gauge just how successful your larger campaign will be within this demographic. Additionally, setting up influencer marketing campaigns in test runs is a much easier way of attracting more of an ROI out your efforts. Getting this established, however, can require some careful planning.
In looking at the current base of your following, it might be wise to first go after the influencers directly within your community to gauge how much engagement they’re willing to bring regardless of your base. From there, go through and pick your target demographics, honing in on a few specific categories that will help lead to what influencers you need. With solid verticals in place, take the approach of possibly working with influencers long-term while establishing your intent. Once you’ve established that, you’ll be running new markets for testing in no time.
Garnering More Engagement
As one of the most primary reasons we use micro-influencers is simply because they garner the best engagement. The goal here isn’t necessarily just getting your name out there to 10,000 people with only 250 buying something, but rather reaching out to 5,000 and having 500 buy something. What makes that difference? How much value an audience places with their influencer, which can be measured with engagement.
When it comes to scouring for micro-influencers, a big part of the practice is looking at the quality of engagement. In many ways, this is a study you probably conduct naturally when examining someone’s page. When you’re analyzing a person’s potential as an influencer, the very first thing you should look at is their followers (as well as if any particularly noteworthy followers catch your eye from your mutual follower list), then dig through their photos and ask yourself a few things:
Are these photos getting enough likes per the following base? Do these comments seem genuine? How many people respond to posts when a question is posted versus ones that don’t? Are there any glaring errors or red flags? How often do they post? And finally, how consistently have they been a part of this lifestyle?
Gauging through the answers to these will begin to help build out a value proposition for each micro-influencer. As your goal should be to create the most amount of influence with the lowest spend, always make that your golden rule when assessing the long-term value of each candidate. Doing so will not only help you start establishing what you’re after but how it can be a mutually beneficial relationship for a long, long time. And finally, remember the golden rule: when it comes to micro-influence, there’s strength in numbers but what’re the numbers behind the strength?
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