Table of Contents
Introduction
Influencer marketing is all the rage these days. To understand what a micro-influencer does, you need first to understand what an influencer is. An influencer is an individual who has “influence’ over the masses. They have a certain number of followers and are highly active on one or more social media platforms. Brands collaborate with influencers to boost their products’ reach. It is a win-win for both brands and influencers. Brands get to interact with their target audience, and the influencers get much-deserved exposure. By the end of this article, you will be well-versed in micro-influencers and their impact on influencer marketing.
What are micro-influencers?
Influencers come in all shapes and sizes. The majority of influencers are categorized into four types based on their following count. Have a look!
Nano influencers- Influencers who have just started their influencer journey and have 10,000 or fewer social media followers.Brands that have a limited budget target such influencers.
Micro-influencers- Influencers who have earned 100,000 followers fall under the category of micro-influencers. That is the category we will be talking about here. Brands and businesses are just starting out and want to capture people’s attention approach micro-influencers. Brands that have a unique product to market collaborate with micro-influencers.
There is also a subcategory of mid-tier influencers in micro-influencers. These influencers have 50,000 to 100,000 followers. A lot of brands consider them micro-influencers, while some like to call them mid-tier influencers.
Macro Influencers- Macro influencers are social media content creators with 100,000 to 1 million followers. This category of influencers has managed to create a niche audience(like the micro-influencers) and is loved for their creative content.
Macro influencers are more costly to hire than micro-influencers because they have more followers. These influencers are experts in social media marketing and have become experts in understanding their audience.
Mega-influencers- You guessed it right! Influencers with more than a million followers on any social media platform fall under the category of mega-influencers. These influencers have attained celebrity status in the digital world.
These are the influencers who get brand ambassador or brand rep status. They have a much larger audience reach than any other type of influencer.
Why being a micro-influencer is more beneficial for brands and individuals?
It is easier for the big influencers to get noticed by the brands, but that does not mean that micro or nano influencers cannot get fantastic brand endorsements. With great strategy, all kinds of influencers can score brand endorsements with their favorite brands.
There is one downside to becoming a mega-influencer, though. The larger the following, the less chance to convert them into customers. Are you confused? Allow us to explain.
A celebrity or an influencer with millions of followers has a larger audience. They are more likely to reach the masses than nano or micro-influencers. But their relatability factor goes down with their mass appeal as well. An average person finds it hard to relate to them.
For instance, a mega influencer posting a reel endorsing a $1000 hair dryer is less likely to urge people to leave everything and rush to their store to buy that overpriced hair dryer. They are more likely to spend on something of good use to them in the long run. An average person may like a mega influencer’s style or fancy life, but that does not mean they relate to that influencer.
That is where micro-influencers win the game. They are highly relatable because they have an ‘authenticity’ factor. People consider them one of them and, therefore, are more likely to believe them. A product they market is much more likely to sell out than their more famous contemporaries.
How does negotiation happen?
You may hear about the crazy amount celebrities, and mega influencers charge per post. Mega influencers charging $1 million per Instagram post are a regular thing. The truth is that not every brand has such an enormous marketing budget. That is where micro-influencers come to save the day.
Micro-influencers charge much less and promise a great engagement rate on their posts. Isn’t that great news? Now, how do brands decide the remuneration for different influencers? Let’s break it down.
One of the most popular methods for determining the remuneration for influencers is their following count. According to social media experts, an influencer with 10,000 or more subscribers can charge up to $100 per share. On average, 70% of social media influencers with 10,00 to 100,00 subscribers charge up to $100 per Instagram post.
When the number of followers increases, the price is likely to go up as well. It is essential to understand that several other factors other than the number of followers impact the rates per post.
Brands are smart enough to know that a micro-influencer has a dedicated and focused audience and is more likely to generate sales than a mega-influencer with a scattered audience.
Brands negotiate by looking at several other elements, such as engagement rate, type of content, social media presence, consistency, and niche audience.
It is an excellent time for micro-influencers to enter the influencer world. The digital world is expanding one follower at a time. Get noticed by major brands and get exposure.
Final Thoughts
That brings us to the end of our article- What are micro influencers? You now know everything about influencer marketing culture and how micro-influencers can drive sales. Use this information to get ahead in your game and leave an impression on your brand. The world is waiting for you.
