Influencer marketing is a collaborative form of advertising that utilizes a person’s social status to promote a product or service. Celebrity endorsements were the original form of marketing using influencers. However, over time, the amount of people who have a following on social media has exponentially grown.
Today, there are many social content creators with a niche audience large enough to offer valuable marketing options to businesses. So, how do you leverage these influencers and their followers to help increase your brand awareness? Furthermore, are there different kinds of influencers to endorse your products?
Mega-influencers are social content creators that have more than one million followers. Typically, these refer to celebrity endorsements or other “A List” or “B List” celebrities. While it may seem like a fantastic idea to have Kim Kardashian endorse your business and its products, it will be costly. Studies have shown that mega-influencers make thousands of dollars on each partnership post. On Facebook alone, you could be looking at $25,000+ per post.
In addition to the astronomical prices of utilizing a mega-influencer in your social media marketing plan, studies also point out that ROI could be significantly lower. It has been noted that mega-influencers may not have the real converting influence power due to their diverse following. Instead, mega-influencers look to appeal to the masses and for brand awareness rather than conversions.
Micro-Influencers have a comparatively smaller following, with follower numbers between 1,000 – 100,000 followers. However, because of this smaller followership, micro-influencers often focus on a specific niche and are generally regarded as an industry expert or topic specialist (source). Because of this, the followers of a micro-influencer are more engaged and tends to act with more passion on posts. Followers often feel more connected to the influencer and assign more weight to their content and opinions. They are also significantly more affordable than mega-influencers, with post prices ranging from $25 to $125 per post.
In addition to affordability of micro-influencers, they often promote fewer products, making their endorsement even more impactful. If a micro-influencer feels passionately enough about a product, they’re more likely to become advocates for your brand, and therefore convert their followers to do the same. If your product truly becomes a part of their life and routine, it will likely stay in the conversation.
Start Influencing your Prospects with Media Venue
If you are ready to start influencing social media users to engage with your brand, maybe now is the time to consider influencer marketing. By choosing a micro-influencer that works in a niche that pertains to your product, you can target an audience with demonstrated interest in your industry. If you need help getting started on your social media journey, Media Venue can help. We focus on strategy and message to best bring your brand to the forefront and engage with prospective clients.
If you are ready to engage with influencers and explore this avenue of marketing, contact Media Venue today! We have a wide network that can help you zero in on marketing initiatives that will work best for your business.