Audience behavior constantly changes, and consumers have become increasingly savvy about marketing techniques. Not only do they want more authenticity, but they also demand more personalisation and a more rewarding online experience. However, it can be difficult for traditional marketing mediums to provide these experiences or answer questions like “How will this product make my daily life more convenient?”, “What is it actually like to use that product over time?” and “Which brands best suit my needs?”.
A recent survey by Global Web Index found that Global internet users spend an average of 2 hours and 27 minutes per day on social media. Good marketers know that you must go where your audience is, but why should brands consider partnering with influencers rather than investing in sponsored content from their own channels?
Firstly, influencer brand content has considerable sway over purchasing decisions for specific audiences. For example, a recent survey from Prosper Insights and Analytics shows that 64% of Females 18 to 34 are influenced by social media or bloggers when making apparel purchase decisions.
Secondly, mass brand exposure often yields minimal results; however, collaborating with so-called nano and micro influencers allows brands to fine tune their targeting. By homing in on a smaller, highly engaged audience, the return on investment (ROI) can be much more fruitful than simply trying to reach as many eyeballs as possible, allowing brands to build more genuine brand relationships.
What are nano and micro influencers?
Like celebrity ambassadors, brands can partner with influencers to expose products to their audience and are generally chosen to appeal to certain demographics. Although influencers cover many different sectors, interests, and genres, they are commonly categorised by the size of their audience.
While there are no universally recognised benchmarks, the general census splits them into four groups:
- Mega influencers – more than 1m followers
- Macro influencers – less than 1m but more than 100,000 followers
- Micro influencers – between 100,00 and 10,000 followers
- Nano influencers – between 10,000 and 1,000 followers
On the higher end of the scale, mega influencers can have as much reach as celebrities, and once they reach this number of followers, they begin to blur the lines between the two. Unlike celebrities, nano and micro influencers have far fewer followers and tend to devote their content to specific areas of interest. Their followers engage with them because they share these particular areas of interest.
Driving sales through high engagement rates and authentic content
It may seem counterintuitive but working with fewer followers can generate higher engagement rates and, ultimately, conversions to sales.
Influencer Intelligence’s Influencer Marketing 2020 report showed that 61% of consumers say micro influencers or niche influencers produce more relatable content. They appear as ordinary, relatable people that consumers can identify with. This means they have a better base to build trust and leverage the power of peer to peer recommendation.
Because they have fewer followers, they tend to invest more time in keeping their audience engaged by replying to comments or suggestions. Their sponsored content can drive spontaneous discussion, generate awareness, and influence purchasing behaviours with a targeted audience group.
Cost effective sponsored content
Although celebrities and influencers with very high numbers of followers can be useful if the end goal is mass awareness at a broad level, their fees can be costly and don’t always offer the best ROI. Nano and micro influencer fees are much lower, and some may even be happy to create content or review your brand/product in exchange for gifts. This is particularly helpful if you run a small or medium business with a limited budget.
Building long-term partnerships with nano and micro influencers can also be beneficial; it allows for negotiation on fees and deliverables. It also means you can build in learnings each time you work on new content together.
At Midas PR, we boast a large database of influencers whose voices can enhance your brand awareness and reputation. If you want to complement your communication strategy with influencers, visit www.midas-pr.com or email us directly.