6 WAYS MICRO-INFLUENCERS ROCK FOR SMALL BUSINESSES AND STARTUPS
Influencer Marketing is nothing new but the game has opened a new lane for winners to succeed. For decades maybe centuries, business owners have been using “cool” people to flaunt their products or speak highly of their services.
Everybody does it. Presidents do it with new, favorable candidates and Nike does it with the best athletes in the world.
As entrepreneurs we can learn a thing or two from this strategy but how do we implement it if we’re not working with million dollar advertising budget?
Since the big boom of the internet, micro influencers (mini celebrities) spored up across the net in the form of bloggers. These good ol people we’re paid greatly by companies to represent their product. Whether it was in the form of affiliate marketing or ad placement. It was a great strategy, it costs less than TV and seemed to do well to turn profits.
Then the next big boom shook the world, Social Media. Next thing you know, more micro influencers spored across the net. In the form of models and people with sub-category interest, just like the bloggers but more!
And that’s the story i’m going to tell my kid about the beginning of internet fame.
Just kidding but seriously, micro-influencers are out there and the are ready to take your money to advertise your product. I’ve negotiated countless deals myself. Some went through and a lot didn’t. That’s why it’s good to have options.
So how do we identify micro-influencers?
- First, you need to make sure that the influencers you look for have relevance to your target audience or industry. Your conversion rate will suffer if you go big and broad. You’ll feel like you just wasted your money on ads that didn’t convert well. Welcome to Marketing. If you sell fitness clothing, look for personal trainers or yoga instructors on Instagram.
- Next, you wanna know if this influencer is going to be profitable. You can gauge that by following a formula we use here called the engagement rate formula. We have a rule of thumb here at Steller that says 5% or more is a good engagement rate. This is how you can calculate that rate with your potential influencers, grab your calculator or your phone:
- Lets say out criteria for finding a good fitness influencer is that they have to have at least a 5% engagement rate. For mathematical purposes, this percentage has to be converted to a decimal: .05 x 10,000 followers = 500 likes and comments total per post
- So to find the engagement rate, look at the amount of likes they get on each post and compare it to the total amount of followers they have . This is a clear sign to how this influential they actually are.
3. Micro-influencers have between 1000–100,000 followers generally and are respected in their given categories.
6 REASONS WHY YOU SHOULD WORK WITH A MICRO-INFLUENCER
#1 It converts well.
Micro-influencers are known for a massive amount of trust that have established with their community. They easily sway people’s opinion and help their audience make quick purchasing decisions.
If people engage with a particular fitness trainer on Instagram, they’ve likely earned a good bit of trust. We’re not gonna go into how trust is established in this post.
#2 It gets your brand message out to the right crowd
Having someone with a larger voice speak for you does wonders in attracting interest. People are dying to know why this person promoted you.
Is it your product really as good as he/she says it is? Your market is willing to find out to tell you.
#3 It generate higher engagement
Micro-influencers know exactly how to stir their crowds. Having it come from their voice will create a craze about your product.
Sometimes we often have the influencer write the caption in his own tone and word choice. We just ask he tags us, mention the products name, and give a call to action.
#4 It creates trust
You and your audience have a very delicate bond in the beginning. Especially if they have never bought from you before.
So having someone they trust speak for your brand instantly makes you credible and the market is willing to give your product or service a chance.
92% of consumers consider micro-influencers to be more credible and believable.
82% of consumers are highly likely to trust a micro-influencers recommendation.
#5 It’s super cost-effective
Instead of dishing out thousands of dollars to influencers with millions of followers, pay micro-influencers with 100k followers $100.00. Doesn’t that make more sense? Not only are smaller profiles more engaging but they also carry a passionate, niche audience.
#6 It’s more relevant
Micro-influencers specialize in a specific niche catering to a highly-specific audience. That’s what helps you target relevant audience. The relevance of your audience gives you more value on your dollar.
Don’t forget to follow me and share this with an entrepreneur looking for a way to expand!
This article was originally posted here
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