In influencer marketing, the larger the following, the better. Right? Nope. Bigger isn’t always better, so you shouldn’t ignore micro-influencers if you want to boost your revenue streams.
You might even be surprised at how great the returns are when collaborating with a few micro-influencers.
In this post, we delve into the power of micro-influencer marketing. We look into how it can help bring more money into your business.
Read until the end to learn how to find the right influencers. You’ll also know if your partnerships with micro-influencers are a success.
Jump to:
- How Does Micro-Influencer Marketing Increase Revenue?
- How to Find the Right Micro-Influencers
- How to Create a Successful Micro-Influencer Campaign
- How to Measure the Success of Your Micro-Influencer Marketing
What is Micro-Influencer Marketing?
Micro-influencer marketing is a strategy that involves working with smaller, niche-focused influencers on the internet to promote your products or services.
Influencers are individuals, media personalities, and other professionals with a significant following and engaged audience on social media.
They can be a blogger, a photographer, a chef, a nurse, an artist, or a solopreneur, among others. Micro-influencers are those who have an audience size of between 10,000 and 75,000.
What do partnerships with influencers look like? An influencer can create product demos and reviews to promote your product. They can talk about the features, quality, and benefits.
They can also promote your event and convince their followers to attend. Working with micro-influencers is essential as consumers become more discerning.
They become more trusting in people’s recommendations on social media than what they see in traditional marketing. If a micro-influencer can vouch for a brand, consumers are more likely to follow their tips.
How Does Micro-Influencer Marketing Increase Your Revenue?
- Increased brand awareness
- Established trust
- Affordability
- High engagement
- Personalized and customized campaigns
For many marketers, micro-influencer marketing is one of the best strategies for the most return on investment (ROI).
It provides several benefits to small businesses, such as establishing brand awareness and reaching a targeted audience. You can also build customer trust and increase sales and revenues.
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Increased brand awareness
Micro-influencer marketing can help increase brand awareness for your business.
You get exposure for your products or services when influencers promote them on their channels.
“With traditional marketing, it’s challenging to stand out and get noticed,” said Jim Rainey, VP of Growth at CoPilot Search, “because consumers are bombarded with many ads, many of which aren’t relevant to them.”
“By selecting influencers with the same audience as yours, you’re more likely to get noticed,” Rainey continued.
Their followers pay attention to what they say and trust their opinions. That leads to increased brand awareness. You’re also more likely to make a sale from them.
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Established trust
Micro-influencers have the reputation of being more authentic than more prominent influencers. So their followers trust them.
“Micro-influencers tend to connect with their followers more personally,” according to Jerry Han, CMO at PrizeRebel. “And that connection brings their audience closer to them and makes their followers feel they can trust them.”
As a brand that works with micro-influencers, their authentic connection and established trust can work in your favor.
Their followers believe in them, view them as credible experts in their niche, and are likelier to take their advice.
So, if these influencers promote your product or service, their followers will trust that they recommend the best options.
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Affordability
Compared to traditional marketing, micro-influencer marketing is more affordable. Micro-influencers generally charge less for collaborations than big influencers or celebrities.
That makes social media marketing more accessible to small businesses. Some micro-influencers may even be willing to work with you on a trade basis.
For instance, they can accept your products or services as payments for the promotion. This practice is a win-win for small businesses with limited marketing funds.
As a small business, you can tap into this affordability and maximize your budget.
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High engagement
According to several studies, micro-influencers usually have higher engagement rates with their followers than more prominent influencers.
That’s because they have a niche-specific audience interested in their content. When you have an engaged audience, you have more personalized and meaningful interactions.
If their niche is relevant to your brand, you can reach highly targeted potential customers you wouldn’t likely reach through traditional marketing.
In the end, the relevancy and high engagement can lead to better conversions and higher income for your business.
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Personalized and customized campaigns
You can create more personalized and customized campaigns when you work with micro-influencers.
They’re usually creative with their digital marketing content. They ensure that they share your products or services with their audience in an authentic and credible way.
Because of their niche audience, which is often local or regional, you can work on campaigns specially designed for them.
The campaigns can be based on specific demographics or interests of their followers. You can tap into this creativity and personalization to stand out against your competition.
You can ensure that you get in front of the people who will most likely be interested in buying your products or services.
How to Find the Right Micro-Influencers
- Set your objectives
- Define your target audience
- Research potential micro-influencers
- Get specific about with whom you want to work
- Evaluate micro-influencers' engagement and authenticity
Micro-influencer marketing’s success depends on finding the right influencer to work with. So, how do you ensure you collaborate with the best influencer for your brand? Here are some tips:
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Set your objectives
Before you begin your search, you must identify your objectives. Why are you doing micro-influencer marketing in the first place? What do you want to achieve?
Your goals may include improving sales, increasing brand awareness, driving traffic to your website, or kicking off a new product or service.
Remember to set specific metrics that you can use to measure the success of your marketing campaign later on.
For example, at the end of the campaign, you want to increase your website traffic by 25%. Notice how this objective is measurable and time-bound.
To help you set objectives, you can conduct a social media competitor analysis to know what you can do better.
Through a competitor analysis, you might learn where your competitors are successful. It will give you an idea of what’s working and what’s not and which influencer you should work with.
Setting your objectives gives you a clear direction for your marketing campaign and what kind of micro-influencer can help you.
The micro-influencer you’ll choose will also use your objectives in creating content for your campaign.
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Define your target audience
When identifying the right influencer for your marketing campaign, you must define your target audience first.
Who do you want to reach? You must consider various factors, such as their age, gender, location, and interests.
It’s also essential to choose a micro-influencer with a similar audience. For instance, if you’re targeting Gen Z consumers, choose a micro-influencer with mostly Gen Z followers.
“Having the right audience will give you better ROI because you’re sure that your brand is relevant to them,” explained Hardy Desai, Founder of Supple.
“They’re more likely to be interested in what you offer, which can lead to better conversions and sales.”
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Research potential micro-influencers
Where do you find the micro-influencers? You can search through various tools like an influencer database or marketplace.
These platforms will already give you an overview of the influencer’s social media following, including their engagement rates, activities, and audience type. That will make your search much easier.
Of course, you can do it the traditional way, such as searching through Instagram, YouTube, and TikTok.
You can use relevant hashtags and explore niche communities. You can see the influencers who are most active on these platforms.
Also, consider blogging and content platforms where micro-influencers share their expertise. Social listening tools are also helpful in monitoring conversations relevant to your niche and identifying influential individuals.
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Get specific about with whom you want to work
When trying to connect with a micro-influencer, it’s essential to take note that the smaller their audience, the more targeted and specific your messaging needs to be.
So, you have to be clear about with whom you want to work. You must find an influencer whose lifestyle fits your product or service. Finding one who’s already your buyer or a fan of your brand is better.
Doing so will make establishing an authentic and mutually beneficial relationship easier.
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Evaluate micro-influencers' engagement and authenticity
When you find a micro-influencer you want to work with, it’s time to get down to the numbers. You must assess their engagement rates and authenticity.
One of the challenges in influencer marketing is that it’s hard to know how many of their followers are fake accounts or bot created.
You must look into their profiles and review their publication history to verify authenticity. This step will give you an idea about their values.
You will also notice how consistent their messaging is to their followers. Engagement is also an indicator of their authenticity.
Do their followers leave comments and replies to their posts? Does the influencer take time to answer the comments? How many likes, comments, and shares do they get?
To analyze engagement, you must also look into the quality of their interactions with their audience.
Go beyond the numbers and see if their audience responds positively to their content.
How to Create a Successful Micro-Influencer Campaign
- Build relationships with micro-influencers
- Develop a clear message
- Provide incentives for micro-influencers
Working with a micro-influencer is a two-way street. You don’t just find an influencer and leave everything to them. You also have a role to play because it’s a partnership that requires collaboration.
Let’s review a few tips on creating a successful micro-influencer campaign.
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Build relationships with micro-influencers
Again, micro-influencer marketing isn’t just paying someone to promote your products or services. It requires establishing good relationships with them, too.
When you build good relationships with an influencer, you establish trust and respect. It contributes to their authenticity in promoting your brand, making your marketing campaigns more effective.
Let the influencer know your objectives and work with them to create a marketing plan tailored to your business needs.
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Develop a clear message
A successful micro-influencer campaign has a clear message for the target audience. Leveraging the influencer’s smaller following, you must ensure that your campaign conveys a clear message that resonates with the audience.
Your message must align with your brand’s values and objectives for this marketing campaign. It must include the benefits of your offering and how they can address the target customers’ pain points.
You must provide the micro-influencer with guidelines about your brand voice and image so they can communicate your message more effectively.
They must understand your brand to create the most suitable materials, whether a video demo with voiceover, a live stream, or a series of images.
You can explore different multimedia options and repurpose some content. For example, you can use mp4 editors to create new materials from your live-stream videos.
A clear message can lead to higher engagement, improved brand awareness, and increased sales and revenues.
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Provide incentives for micro-influencers
Remember that your micro-influencer marketing isn’t about your brand alone. It must also be beneficial to the influencer. Providing them with incentives can help you build better partnerships and long-term relationships.
Incentives can create trust, boost loyalty, and motivate them to do their best in helping you convey your message to your audience.
Incentives for micro-influencers can include monetary compensation, exclusive discounts, free samples, and priority access to new products or services. You can also give them a commission for every sale made through their content.
It’s also essential to tailor your incentives based on the micro-influencer’s niche, audience, preferences, and needs. For instance, a micro-influencer focused on sustainable fashion may not be best for promoting a fast food chain.
So, tailoring your incentives ensures that the influencer is motivated to promote your product or service and that their followers are likelier to engage with it.
How to Measure the Success of Your Micro-Influencer Marketing
To know whether your campaign has contributed to increased revenues, you must measure its success.
You need to determine your ROI, as well as gather data-driven insights on how you can optimize future campaigns.
Go back to the objectives you set for your campaign. Some of the metrics you can track are engagement, clicks, and conversions:
- How many people were reached by the collaboration posts
- How many likes, shares, saves, and comments did the campaign receive
- How many clicks to your links are there
- How many took your desired action (e.g., downloaded your freebie, signed up for your program, bought your products, or joined your email list)
- How much is your ROI
Looking at the reach and impressions of the micro-influencer content for your campaign provides you insights into how much brand exposure you have.
You can assess the potential visibility of your brand and how many times the influencer’s post was seen on their feed, regardless of whether someone leaves a reaction or clicks a link.
It’s also helpful to monitor brand mentions and sentiments. During the campaign, keep an eye on posts that mention your brand name.
Check whether the sentiments are positive. These can indicate a successful micro-influencer campaign.
“To me, the best gauge of a micro-influencer campaign’s success is conversion,” said Ryan Zomorodi, Co-Founder and COO of RealEstateSkills.com.
“Did the audience take the desired action? I look at the number of new signups, inquiries, website traffic, and new sales.”
You can use tracking mechanisms to determine whether the new signups and sales come from the influencer campaign. You can use affiliate links or unique discount codes to attribute the conversions.
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Tools for measuring success
Measuring the success of micro-influencer campaigns may sound tedious and intimidating. But it doesn’t have to be that complicated.
You can use different analytics tools to gather data and get a better and more accurate picture of your campaign’s success. Some tools include:
- Social Media Analytics – each social network has built-in analytics tools for tracking and monitoring the performance of your influencer marketing campaigns.
- Google Analytics - can be useful in tracking website traffic and user behavior.
- Surveys - gather customer feedback to know if your influencer campaigns resonate with your target audience.
- Sales Data - track your sales figures to know if your micro-influencer marketing campaigns led to conversions and sales.
Choose a tool based on the key metrics you want to measure. And as no one tool is perfect, it’s okay to use a combination of tools to ensure you’ve covered everything.
Conclusion
Micro-influencer marketing can yield many benefits for small businesses. These include increased engagement, enhanced authenticity, and more targeted audience reach.
Working with micro-influencers is often more affordable than traditional influencers. That can help you achieve better ROI and increased revenues.
Likewise, you can create more meaningful and effective marketing campaigns by partnering with influencers whose values align with your brand.
Focusing on niche audiences can also help you connect with your target demographic and drive better conversions.
Overall, influencer marketing as a whole is a valuable strategy for any business.
Whether you’re just getting off the ground or an established small business looking to expand your reach and build stronger relationship with your customers, it's true.
