When you own a business, one of your biggest goals is to drive maximum profits with minimal spending. Not many marketing channels can help you do this. But influencer marketing has made a name for itself as one of the most cost-effective channels for marketing.
And what’s even more cost-effective is working with micro-influencers, who can help you engage better with your target audience, at a fraction of the cost.
Who Are Micro-Influencers?
Micro-influencers are influencers who have a smaller reach than regular influencers. They have a follower base of anywhere between 1,000 to 100,000 people.
Most of them concentrate on a specific niche – whether it’s arts and crafts, beauty and makeup, sports and fitness, or gaming and entertainment. And they’re considered to be very knowledgeable in their area.
What’s the Big Deal With Micro-Influencers?
Now you may be wondering why exactly micro-influencers are so important. Here are a few reasons why.
They Help You Reach a Relevant Audience. Micro-influencers focus on a specific niche. When you work with ones relevant to your products or services, you’ll reach a highly targeted demographic.
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They Help You Drive More Engagement. Since their followers are highly relevant, they’ll be more engaged with the influencer’s content. In fact, a Markerly study found that micro-influencers are able to drive more engagement than mega-influencers with millions of followers. According to the study, engagement rates drop as follower size increases.
They Help You Drive Higher Conversions. With a highly engaged audience, there’s a huge possibility that the influencer can effectively build interest in your product. And that means there could be a significant boost in sales with the help of these influencers. In some cases, micro-influencers have reportedly boosted conversions by 300%.
They’re More Cost-Effective. Micro-influencers have a smaller following than their top-tier counterparts. But they charge less for sponsored posts and partnerships with brands. A micro-influencer may charge anywhere between $75 to $1,000 for each post on Instagram, while mega-influencers may charge $3,000 or more for a single post.
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These are only a few of the benefits you could gain from working with micro-influencers. If you’re interested in learning more about this powerful marketing channel, check out the creative gifographic guide to micro-influencers below.