Micro-Influencers Impact on Small Business
Influencers are a rising trend in social media marketing. While celebrity endorsements have long been a staple of big corporation advertising, there's been a shift toward a more authentic approach. And it's one that even small businesses can take advantage of. Take a look at the micro-influencers. While their peers may be far more high profile, such as celebrities with over a million followers, micro-influencers are more engaged with their audience. They have a closer relationship with their community which creates a loyal following. This makes them a viable partner in the marketing plan, as they can increase sales and bring more attention to your business.
What is Micro-Influencer?
They are content creators on social media who have anywhere between 1,000 and 50,000 followers, although the numbers can be pretty subjective. But the numbers aren't as important as the interaction with their fans. According to statistics, they have a 60% higher engagement with their audience. They're also varied across the social media sites that they use. From Instagram to Youtube, these content creators cater to their audiences. They have a niche that they focus on. By partnering with a micro-influencer, businesses focus on that group.
A study states that when these influencers recommend a product, their audience is more likely to trust and subsequently purchase the suggestion.
In comparison, macro-influencers, such as celebrities and other social media influencers, show a steady stagnation in audience interaction. According to Digiday, celebrity Instagram users see a drop in both likes and comments, compared to those with a smaller fan base. The same is shown with advertisements as well, making the micro-influencer a better choice.
Connection to Consumer
Marketing through a micro-influencer means knowing their audience. It helps if the influencer is already a fan of the products your business sells. According to Olapic,
56% of consumers are more likely to buy a product that they have seen featured in a consumer-generated picture versus a stock photo.
Consumers trust micro-influencers because they seem more relatable, honest, and authentic compared to a celebrity. They are real people and therefore can offer real content, such as honest reviews and product demonstrations. These influencers tend to only create content about and for the things they like and have an interest in. This ultimately transfers to their audience and creates a positive view of the brand that is being marketed.
Impact on Advertising
According to Nielsen, 92% of consumers don't trust traditional advertising. They are more likely to trust word of mouth, and recommendations from people they know.
This includes micro-influencers since as said previously, their audience trusts their judgment. When it comes to regular advertising, it's costly and often ignored. Adblocker use has been on the rise since 2016. Influencer marketing, however, is not nearly as costly and brings in more revenue. Unlike macro-influencers which may cost upwards of hundreds of thousands of dollars. micro-influencers can be negotiated with. They might take payment in the form of discounts or free products, or take a percentage of the sales they helped generate.
With their more direct and personable approach with their audience, micro-influencers are growing in popularity for social media marketing. They may take over the future of advertising as traditional strategies lose their impact. They focus on a specific audience, making it possible for businesses to find just the right person to promote their product. More and more businesses are looking to micro-influencers to boost their sales and build their brand. They are affordable, approachable and are proven to provide results. Micro-influencers are not going anywhere any time soon and will likely be the face of social media marketing.