What is microinfluencing?
Paying influential people to market your products is a clever way to tell your brand's story, remain relevant to your customers, and essentially to achieve higher sales. As a tactic, it's been around in some form or another since capitalism began. However, the advent of the internet, and in particular, social media, means that pretty much anyone with access to a computer (and a camera) can become an influencer.
This marks a huge shift. No longer is influencing confined to the already rich and famous - and brands have been reaping the rewards of working with influencers with a smaller following for some time now. This is essentially what microinfluencing is.
Why should I work with micro-influencers?
If you're thinking, ok, anyone can be an influencer, but why would a company want just anyone with a social media following to advertise their products? Wouldn't it be more effective to use the tried-and-trusted method of asking celebrities to market products for guaranteed returns?
The answer to this question comes down to the crucial difference between quantity and quality. Turning the focus towards the stats, there is a negative correlation between follower count and engagement rates. Or, to put it simply, the more followers that a person has, the more likely it is that they have less engagement.
In the graph below, the general trend shows that Instagram accounts (we've used Instagram as it's the biggest market for influencing) with a smaller follower count have much higher engagement than accounts that have millions of followers such as Oprah, or Vogue. This is incredibly important, and anyone looking to work with influencers should bear this in mind.
Let's crunch the numbers - using microinfluencers instead of 'macro' or 'mega' influencers equates to, on average, 60% higher engagement, and 6.7X more cost effective per engagement. That's a ringing endorsement to our ears.
Why do microinfluencers have higher engagement rates?
Microinfluencers tend to post about a specific, niche area. This means that their followers are naturally going to be more interested in what they have to say. This relates to the important element of trust that exists between a microinfluencer and their audience: because the influencer has built their following on a genuine connection or shared interest with their followers, the followers trust their opinion. Therefore, when a microinfluencer posts about a brand or service, their audience will take their recommendation more seriously, and are more likely to check out what they're talking about.
What are the downfalls of working with microinfluencers?
Despite the clear advantages of working with microinfluencers, there are two clear disadvantages.
The first is that they're harder to find. It's relatively easy to come up with accounts with a large following - maybe you've seen someone advertising something similar to your product, or you've come across them on your own personal account. However, it's less likely that you'll be able to keep track of all of the smaller accounts that would engage well with your brand.
The second problem is that rather than working with one major influencer and creating a campaign around them, you'll need to work with multiple microinfluencers to create the same impact. This can be hard to juggle, as it's best to have clear communications with each influencer to ensure that your campaign reaches your goals.
The solution to both of these problems is the same. Work with an influencer agency like PETRA, which can source your microinfluencers and also help to run and organise your campaigns. Find out more about what we can do for you here.