The concept of an “influencer” is pretty clear. It’s an individual who can reach a higher number of people through their various communication channels and can, therefore, influence them to like or dislike, to adopt or ban, to buy or skip buying, products, and services. Wikipedia defines Influencer Marketing as a form of marketing in which focus is placed on influential people rather than the target market as a whole. It identifies the individuals that have influence over potential customers and orients marketing activities around these influencers. Our recent meetup with guest speaker and influencer Jayde Lovell was a great crash course on the who/what/when/where/why to work with Thought Leaders to help influence marketing effectiveness.
One of the big hurdles that brands face is being able to afford a big name to help endorse their products. It turns out that you don’t need to have very deep pockets to get a new breed of influencers called “micro-influencers”. Similar to Influencers, they help brands create awareness and drive sales. But smaller budget means smaller scale, so working with a micro-influencer means you’ll likely reach smaller audiences. However, those audiences will be highly targeted. Since micro-influencers are experts and industry leaders, and they are also relatable to their audiences and close to their online communities, they offer the combination of credibility, organic authenticity, engagement, and affordability.
Here’s my pro and con list of working with micro-influencers.
|Budget||Lower Cost||You get what you pay for – less money, less reach and fewer brand mentions etc.|
|Reach||Higher Engagement with your brand and their loyal fans will be your brand advocates via their “influence”||Lower Reach Than Other Types of Influencers and lack Star Power boost|
|Industry||Available for all different types of niche industries|
|Sales||More approachable to customers and can “influence” to take the desired action||Harder to build a genuine and hopefully long-term relationship with the influencer to help with sales|
|Other||Can appear more authentic||How long does it take for the company to find/research the right micro influencers?|
My advice is the next time you’re looking for a brand ambassador or simply brainstorming a new marketing strategy, keep micro-influencers in mind!