Influencer marketing has been on the rise for quite some time now. Traditional advertising is not what it used to be. The media landscape has changed so much with the internet and social media apps like Facebook, YouTube and Instagram.
Big companies are not spending as much time and effort into creating commercials as they are making relationships with influencers, but they’re still making just as much money. For every $1.00 spent on influencer marketing, businesses generate about $6.50 back. And small businesses are getting in on the action as well by sending free things to people who resonate with their target audience.
There are 3 main types of influencers. They can vary depending on the websites you look at, but this is roughly what they’re defined as.
1.Mega Influencers (over 1M followers) Kylie Jenner and other celebrities
Huge brands such as Adidas and Nike are able to make deals with influencers, but at the same time the bigger an influencer is, the less engagement they USUALLY have. The other downfall is because their audiences are so big the less niche they become. This doesn’t always account for all influencers with over 1M followers, but mainly the celebrities. The best use of a Mega influencer is awareness and elevating a brand through being associated.
2. Macro Influencers (usually defined as 10k to 1M followers)
These types of influencers are usually a type of blogger (lifestyle, mommy blog, travel, etc) and have grown an audience organically overtime. These influencers have developed and continue to develop a relationship and trust with their audience. These are usually the realm of influencers we work with at my company Hashtag Communications Inc.
3. Micro Influencers (usually 500 to 10k followers)
Micro influencers are great to use because they have a solid relationship with their followers which brings in more authenticity when promoting a product. Cons can be that since they’re smaller, they don’t have as big enough a reach and can require multiple micro influencers to get your message spread. When coordinating a micro influencer it takes a lot more work and manpower / woman power ;). But typically brands can go SUPER niche with micro influencers and tend to see very high engagement rates.
Micro and Macro influencers are great to use because
- Higher engagement rates
- Usually specialize in a niche category
- They are usually perceived as more authentic – 84% of consumers trust their peers and who they follow onlines’ opinion
- They cost less
Focusing on using Micro and Macro influencers rather than the mega ones can give you a competitive edge over the competition and save money in your wallet. In fact, a lot of Micro influencers are in favour of taking product or a VIP experience rather than a cheque, but that does have to be discussed with the influencer as everyone is different. Also it’s important to remember even if you are sending an influencer a product they must tag the brand and hashtag #gifted.
When it comes down to it, influencer marketing isn’t slowing down anytime soon and educating yourself on how to work with them and how they can benefit you will help you so much in the long run.
If you ever need any help feel free to email me. Influencer marketing is what I built my company around 5 years ago and have since executed dozens of campaigns – would love to see what you’re working on.
Or email me at rachel@hashtagcommunications.
Hope this helped get some of your wheels turning for your business!