Denver Start-Up Week is over; however, there were so many important and fascinating conversations that were cultivated around our panel discussion, The Power Of The Little Guy: Micro-Influencers are Small but Mighty.
Our conversation was so good, in fact, that we wanted to keep the conversation going here by providing some highlights, as well as invite readers to ask us any questions or thoughts that you have. As the role of social media and influencer marketing continues to change and evolve, this conversation becomes even more important.
What are Micro-Influencers? They are real people.
Micro-influencers are brand advocates who have a super engaged, loyal and niche audience that exhibits a deep trust and affinity for their perspective. Audience count matters less when looking at micro-influencers—they can have anywhere from a few hundred to a little over 10,000 followers.
Nielsen’s 2015 Global Trust in Advertising study found that the most credible form of advertising came from other people.
Working with micro-influencers can be highly effective for start-ups or any company that has a modest budget and is looking for quality and authentic connection with their audience.
By choosing a micro-influencer strategy, brands are able to work with many different micro-influencers in order to spread messages across multiple demographics with smaller spends rather than spending all of their budget with one macro-influencer.
Micro-influencers are niche-focused; they don’t appeal to a huge audience, but they’re very influential in a smaller, more specialized space, and they create content that cuts through the noise and garners real engagement.
Markedly found that the rate of engagement with influencer accounts actually decreases with increased followers.
Those with audiences smaller than 1,000 typically have engagement rates of around 15 percent. That means a person with 1,000 engaged fans might earn 150 likes on each post.
Experticity found that micro-influencers have, on average, 22.2X more conversations than other Instagram users.
And those conversations translate into action: the same study found that 82 percent of people reported they were highly likely to follow a recommendation made by a micro-influencer.
What are the best channels for micro-influencer marketing?
Instagram is king when it comes to micro-influencer marketing. In 2017, Instagram saw a 198% increase of sponsored posts, for a whopping 1.5 million total! Hands down, it’s the channel with the strongest interaction rates (boasting a 3.21% engagement compared to the average of 1.5% across channels). 45% of women say they’ve followed a brand on Instagram because an influencer recommended it.
YouTube is a close second. This platform seems to have more sway among males. It affects the purchasing habits of 22.8% of men vs. only 13.9% of women.
Teenagers feel 7-times the emotional attachment to their favorite YouTube stars than they do to other celebrities.
18% of consumers admit that YouTube has had a hand in guiding their purchasing decisions.
So, how do you find and qualify these magical creatures?
Scour social media! Take the time to personally qualify your influencers, and use an organic search approach through keywords, hashtags and geographic location tags. Sometimes they are right under your nose; think about those who already follow you.
Your best social media influencers are going to be the ones that already share content that is similar to your brand. You want to be in the same circle so it doesn’t seem like a stretch when you ask influencers to talk about you. This idea comes back to humanizing your outreach and content.
Once you create a list of micro-influencers that jive with your brand, you must work together to create worthwhile content. Here are three goals to keep in mind during this process:
Goal 1: Create your content in such a way that it flows naturally and seamlessly with your audience’s timeline and does not scream AD.
Goal 2: Make sure that influencers are in-line with your brand voice and messaging while also recognizing that they know their audience. Be flexible, and do not hold the reins too tightly by letting influencers put their own flavor and use real language.
Goal 3: Use immersive photos and short video, tap into your audience’s emotional connection to your brand through engaging copy, and be real.
Pricing + Negotiation: how should you go about this?
The appropriate costs to pay your influencers are heavily determined on an influencer-by-influencer basis and there are no solid pricing guidelines. Some influencers will work for trade meaning you supply them with a product for them to demo, and they post their experience. Others will require a fee.
Think about if you would like your relationship to be simply transactional, which means one post about your product, or relational, where you build a series of posts for the influencer to share, and they become one of the faces or brand ambassadors of your company.
Always make sure to write up a contract with all terms and conditions.
Psst: Sprocket works with micro-influencers in multiple campaigns for a wide variety of clients. We have lots of experience qualifying people, negotiating price and concepting killer content campaigns, and have tons of fun while doing it.