Written by: Maggie Dye
Being an influencer can be quite the sweet life — photoshoots, free products, getting paid to simply be on Instagram? Yes please, sign me up! It is such an appealing lifestyle to millennials and gen-z that more and more are turning to influencing as a career.
While larger influencers including pop stars, critically-acclaimed actresses, and supermodels fresh off the runways of Paris are usually the ones who succeed in attaining this influencer lifestyle, smaller influencers are on the rise. Brands are increasingly seeing the benefits of working with micro-influencers, making your dream career of being paid to vlog your vacation more of a reality.
You may be wondering, what exactly is a “micro-influencer?" This term is used to describe social media users between 1,000 and 10,000 followers that are paid by brands to promote their products. Businesses are starting to look to these small internet-gurus rather than the traditional stars with over a million followers for several reasons:
Higher Engagement
Brands are beginning to realize that the higher the number of followers an influencer has, the lower the engagement rate. It feels much easier to ask a question or leave a comment on someone’s page that seems similar to you (but with better VSCO presets, of course) rather than a celebrity with god-like status, like Rihanna or Selena Gomez. A smaller audience means these influencers can have a more personal, genuine interaction with their followers. In fact, influencers with only 1,000 followers generated an 85% higher engagement rate than accounts with 100,000 followers. The sweet spot in follower counts seems to be in the 1,000 to 100,000 follower range, making micro-influencers marketing gold.
Tighter Target Audience
Many brands prefer working with micro-influencers because they're more targeted to their followers and audience. These mini-celebrities have followers that are actually interested in the product or service that these companies are selling. Larger influencers have massive followings of people from all walks of life, which makes the chances of their audience being relevant to a business’ product pretty slim. Micro-influencers also have a good knowledge of who makes up their audience, creating a more authentic, less commercial experience for their followers.
Fostering Better Relationships
Today, many consumers trust recommendations from friends over advertising. Micro-influencers come across as actual people giving truthful reviews on products they love and use, not just companies that will position their product however they need to in order to turn a profit. Even larger influencers and celebrities don’t count as a peer-recommendation anymore due to big-time sponsorships and commercials. Working with smaller influencers is the best way for businesses to foster trusting, natural relationships with their target audience.
Affordability
Celebrities and big-time influencers can cost you hundreds of thousands for a single post or endorsement. This strategy is not always ideal for smaller brands, which is why micro-influencers, a much more affordable option, are on the rise. Depending on the number of followers and engagement they receive per post, these influencers typically cost around $1,000 per post for those with 100,000 followers. With this rate, companies have much more wiggle room in their advertising budget, allowing them to invest in other media channels and reach more potential customers.
Micro-influencers are a great idea for small to medium sized businesses looking for a way to reach their niche audience. By saving costs and directing their advertisements towards a tighter target market, this new marketing strategy may just be the new industry go-to. So, if you’re willing to up your Instagram game a little more, the glamorous life of an influencer may just be within your reach.