Here’s an interesting statistic: 79% of D2C marketers regularly search for niche influencers. Why? They are a hugely cost-effective way to boost brand awareness and conversions by instantly reaching your target audience.
So in this week’s eComm Edit, we compare micro and macro-influencers. We talk through a 3-step process to maximise sales. And provide tools to help you find your niche influencers.
As always, you’ll find top actionable insights analysed and ready to apply to your business. Get to the end and decide you're all in? Fund your influencer strategy with our marketing finance here.
The influencer market is projected to reach $16.4bn this year. Almost half of these (47.3% to be exact) are micro-influencers. These everyday people have built a decent following through popular and engaging content.
So how can they help your business?
Put simply; their strong following is a ready-made target list. Micro-influencers down-to-earth attitude builds brand trust. And they package your offering amongst valuable content, which can solve a problem or create a little uplift in life. Some will even work with you for free - or a small token like a gift card.
With micros, we’re talking 10,000-50,000 followers that trust the influencer and therefore act as an advisor to your niche market. With macro-influencers, they reach a much greater audience (millions), but they aren’t an expert in a particular topic so you’re lucky to see a 1-3% sales conversion. Plus, micro-influencers are easier to get in contact with.
But don’t take our word for it; delve into micro-influencer best practices, statistics, trends, and strategy with this article by Marketsplash here.
Inspired? See how you can put this thinking into action with our top tactics👇
Here are our top takeouts to apply to your business.
It's easy to see big numbers and think BIG results. While micro-influencers may have less followers, they have stronger bonds and reactions typically due to their niche subject area. Deeming them trusted experts. In fact, according to this research report, you can expect 40% of brand partnerships to come from small influencers (10,000-50,000 followers). Whereas macro-influencers are involved in 1-3%.
> Step 1: Plan & strategise - Start with the metrics you want to achieve: for instance, increased following, engagement, increased sales, and customer retention. Then look at what will attract your target audience - like the social platforms they prefer and the type of content will likely to want to see.
> Step 2: Co-ordinate - Once you’ve found your chosen micro-influencer, discuss your goals and guidelines (this helps them shape their content - or avoid mentioning things).
> Step 3: Measure - This is the best bit. You can regularly review the impact of your influencer campaign and how it supports your marketing goals. This allows you to tweak things to increase performance. If you’re using multiple influencers, it will also let you to see who drove the most sales.
Most micro-influencers have a niche. This is where you need to start. Tools like this one can help find the perfect influencer. Make sure you check their follower count and engagement rates to narrow it down. Once you have a list of possible candidates, ask: What’s your budget? Do any micro-influencers already know of or use your brand? Would you want this person to be a spokesperson for you? And what’s in it for them? More on this here.
👉 To sum up: A one-off post probably won't move the dial. You'll need to drop some budget and faith into the activity, but it shouldn't take all your time or cost the earth to try it out as a growth tactic.
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