Influencer marketing has grown by approximately £1.1 billion from 2017 to 2020. An enormous, 93% of marketers now practice influencer marketing and are allocating 25% of their marketing budget to partner with micro and macro-influencers to help drive their sales. But why is this? And is it better to use more well know influencers, or smaller influencers? Our social media executive Ellie explores the pros and cons of both.
A micro-influencer is someone who usually has anywhere between 1,000 to 100,000 followers and at least 7% engagement. They tend to have a niche genre or look and feel and are considered industry experts in creating content specific to a singular topic.
A macro-influencer often has over 1 million followers and are very well known in the public domain, however their engagement rate is usually around 3%. This group tends to be celebrities, TV personalities, public figures or sportspeople. Macro influencers can use this fame to build a community and following on social media pretty quickly.
But how do you know which influencer is best for your campaign or brand?
Most micro influencer engagement is driven by authenticity. They produce engaging content that they know will resonate well with their followers. It is far more believable to consumers that the micro-influencer enjoys and cares for the product, which creates more of a sense of trust. Brands with smaller marketing budgets may choose to partner with a micro influencer for optimal return on investment. Your brand has a better chance of reaching your target audience as the majority of the micro influencers followers are already interested in their offering.
Macro Influencer Pros
Macro Influencers have a much larger reach and can get a brand message spread quickly, therefore driving sales much faster. Brands may have more control, giving influencers precise instructions on how and what to post, meaning the outcome can be more accurately predicted. Most macro influencers generate a personal discount code for the customer to enter at checkout, therefore enabling you to track where most of the sales have come from and if the influencer campaign was worthwhile.
On the flip side…
Micro Influencer Cons
Micro influencers do not have a vast following, so their potential reach is capped. Additionally, brands tend to have less control as they must trust that the micro-influencer posts a quality piece of content. Micro-influencers usually do not have management, therefore the marketer would have to keep track of financials and contracts.
Macro Influencer Cons
Macro influencers content is usually somewhat less trustworthy and authentic to the consumer as they are now more aware of staged Instagram posts, meaning consumers may not believe that the influencer actually uses the product they’re advertising. For brands with a smaller marketing budget, macro-influencers may not be a viable option.
So how do you choose which is the right option for your brand? Social Instinct partners with a wide range of influencers, who are ready and waiting to endorse your business. To find out how we can match you to the most relevant influencer partner, email us on firstname.lastname@example.org.