Influencer marketing isn’t a new concept either. But the way that it’s being used on social media channels is definitely changing in 2018.
More specifically, companies are starting to partner with micro influencers to increase their credibility.
What exactly is a micro influencer? They are people on social media channels who have a strong following but don’t have a celebrity status.
While there is no exact threshold, micro influencers typically have anywhere between 1,000 and 90,000 followers. Once we start to reach the hundreds of thousands of followers line, we are entering macro influencer territory. And anything higher than a macro influencer is considered to be a celebrity.
These are some of the top reasons why brands are partnering with these types of influencers:
Research shows that micro influencers have 60% higher engagement rates than traditional celebrity influencers. You can also expect to see 22.2% increase in average weekly conversions from this marketing tactic.
Another reason why brands are so drawn to micro influencers is because they are cost-effective compared to other advertising expenses.
This is still a relatively new trend, so brands and influencers alike are unsure of how to come up with a standardized pay scale. As of now, it’s anything goes.
I’ve seen some businesses that don’t even pay their influencers. They just send them free stuff for social media posts.
But as we continue moving forward in 2018, I’m expecting micro influencers to be more business savvy and demand pay for their efforts.
They know their followers trust their opinions. So don’t be hesitant to spend money on influencer marketing as the year continues.