In today’s reality, social media influencers have become celebrities in their own right. With millions of dedicated followers, these “instalebrities” can charge thousands of dollars for a single promotion on their channels, not to mention the hundreds they receive in free product for their content. Since the rise of social media stars, influencer marketing has received a reputation that only companies with a large budget can benefit from influencer marketing. While these popular blogger’s rates might be out of your company’s price range, there is an entirely different group of content creators that might be exactly what you’re looking for. Micro-influencers, influencers with anywhere from 1,000 to 100,000 followers, are more cost-effective, are growing in popularity, and are creating the content you need to market your business.
They have Lower Rates
One of the biggest obstacles with influencer marketing can be the price of each influencer’s rates for sponsored content. What is beneficial about micro-influencers is their rates are significantly lower than someone with 500,000+ followers. A micro-influencer’s rate could be anywhere up to 1/10th the price of a popular influencer’s. Micro-influencers are also more inclined to exchange content for free product or work on an affiliate based charge, earning money for the amount of units they sell, rather than the sponsored content itself. This can save you money and give you the opportunity to work with more micro-influencers vs. only one.
They’re Growing in Popularity
The relationship you build with influencers is an incredibly important part of the influencer marketing strategy. As your company expands and new products are released, the influencers you have worked with in the past will remember you and will be more interested in working with you in the future. A micro-influencer’s popularity is just beginning to grow, and the ones that continue to be successful will remember you and your company when they have doubled or tripled their audience size. Their rates will begin to go up, but the relationship you built with them at the start of their career will influence their decision to work with you when they do.
The # of Subscribers Doesn’t Matter
Many companies get caught up in the number of followers or subscribers when they are choosing an influencer to work with, when in reality, it doesn’t matter! An influencer with 300,000 followers is not beneficial to your company if the engagement and views are not consistent with the number of followers. Choose influencers who create quality content that is popular with your target audience, and those searching the topic will find you.
Whether it’s influencer marketing or social advertising, there is always a way to make it work for you, and your company’s budget. Don’t be discouraged by the rates of popular influencers; the real secret lies within the micro-influencers. Remember to spend time thinking about who you want to work with, and look past the illusion of follower count. For more information about influencer marketing, find out how KWSM can get you results here.
