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Friday, 8 November 2019

Micro-influencer marketing – S1E83



WHAT IS MICRO-INFLUENCER MARKETING?

A newer concept known as micro-influencer marketing recently joined the social media scene. It’s the same
concept as influencer marketing, but on a smaller scale: Brands partner with individuals with smaller
followings on social media, typically 1k to 10k followers, to promote products with authentic, visual posts
instead of sponsored ads.

INFLUENCER VS MICRO-INFLUENCER

  • Influencers are celebrities. Micro-influencers are not known by many
  • Influencers get a lot of public attention, whereas micro-influencers do niche work in their industry.
  • Influencers have a huge social media following, typically more than a million. Micro-influencers have 1k to 10k followers.
  • It is expensive to work with an influencers. Most would charge an arm and a leg. Micro-influencers come at a relatively lower cost
  • Influencers are less authentic as they receive public scrutiny. Micro-influencers are more authentic and portray their real lives online.
  • Influencers receive low engagement rate whereas micro-influencers get more % of likes / shares / comments on their posts
Listen to the Podcast episode:
Watch the Video:
Markerly studied Instagram engagement and found a surprising trend: As an influencer’s number of followers increases, their number of likes and comments from followers decreases.
In its analysis, Markerly determined the following:
  • Instagram users with fewer than 1,000 followers generated likes 8% of the time
  • Users with 1,000-10,000 followers earned likes at a 4% rate
  • Users with 10,000-100,000 followers achieved a 2.4% like rate
  • Users with 1-10 million followers earned likes only 1.7% of the time.
In a recent study, Experticity learned micro-influencers have 22.2X more conversations than the typical
Instagram users — largely because they’re passionate and knowledgeable about their particular interest area.

HOW TO WORK WITH MICRO-INFLUENCERS

1. IDENTIFY THE RIGHT FIT MICRO-INFLUENCERS FOR YOUR BRAND

Use platforms such as URpopular, Winkl, Pulpkey or blogger networks such as BlogAdda, Indiblogger to identify the right micro-influencers for your brand.

2. METRICS

Collect relevant metrics such as Engagement Rate: https://phlanx.com/engagement-calculator or Audience Quality Score – HypeAuditor.com

3. ESTABLISH A CONNECT

Send out an email to schedule a call. Ask questions. Ask for past case studies & numbers. See what is their working model. Check for exclusivity in your niche (have you worked with any of our competitors)

4. SEND A INFLUENCER BRIEF

  • Make sure you put down the brand objectives or a campaign briefWhat you want the influencer to do?
  • Detail it down – Blog / Posts on social networks.
  • How will you pay ? Fixed fee vs Pay for Performance. Sales / Leads etc.
  • Look to build a long-term association

5. TRACK ROI

  • Affiliate link / Discount coupon code for specific influencer
  • Organic Growth in followers
  • Growth in common followers (InstaMutual / MutualFriends)

Reference

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