Reaching out to Influencers on a variety of social networks to help promote your brand can be very expensive. Depending on their audience size, you can expect your brand to pay over $1,400 for a single Instagram post if the influencer’s account has over one million followers.
A study from April of 2017 shows that the average price of a sponsored post on Instagram grows exponentially when the influencers' audience is larger than a million.
Now that’s a pretty big price tag for some brands, but that shouldn’t put you off to Influencer marketing.
You can actually reach a targeted and loyal audience at a much more affordable rate by choosing to go with micro influencers.
Why Micro Influencers?
Micro Influencers are those with an audience size between 2,000 and 100,000. You can find micro influencers for almost every niche and market out there, and when you do, you’ll want to capitalize your marketing dollars on them after doing some research, of course.
Yes, they have a much smaller audience than those larger accounts, but with that smaller size, you’re getting a more targeted and loyal following, as well as a more attractive price for sponsored posts.
It’s Simple Math
Here’s a quick example of why the numbers supporting micro influencers make sense. Let’s suppose your sportswear brand reaches out to a celebrity with over 2 million followers. You’d be reaching a huge audience, but over 80% of that audience may not be athletic or like sports.
In this case, if you reach out to 20 or 30 micro influencers who are serf-proclaimed athletes, you’ll be tapping into a more target audience who actually have interest in athletics.
Tips for Increasing Micro Influencer Campaigns
If you want to get the most engagement and conversions out of your micro influencer campaigns, we have a few tips that can help.
1) Tell a Story
Micro Influencer’s followers are loyal and as we’ve explained, very targeted. They follow those smaller accounts because can they truly identify with them in one way or another. A great way to maximize your engagement when running sponsored posts with those micro influencers is to have them tell a story about your product.
Have the influencer tell a story that resonates with their followers. It can be a personal experience with your product or brand, or even an honest review of it.
This example shows how American Express uses influencers to tell a story:
2) Use Brand-Related Hashtags
Running campaigns with 30 or more micro influencers can become difficult to track. By using campaign-specific hashtags related to your brand, you’ll have an easier way to track the sponsored posts, but you’ll also have a great way to spread brand awareness and drive conversions as well.
In this example, we can see how sparkling water brand Lacroix, gets micro influencers to use their brand related hashtags - #livelacroix #lacroixlovers - in their sponsored posts.
Using these hashtags, they can work with a ton of micro influencers to promote their products. As you can see, this specific influencer has just over 1,300 followers.
3) User Generated Content Is Your Best Friend
Over 90% of consumers find user generated content to be helpful when making a purchasing decision. On top of that, UGC can increase your campaign conversions by 29% on average.
Since we’ve already mentioned that creating a story with your sponsored post is a great way to maximize engagement and conversion, you’ll understand how having those micro influencers post their own photos will go a long way. Their followers are a lot more likely to engage with a genuine photo from them, than a professionally edited photo taken at an expensive shoot.
Their followers are more likely to relate to images and experiences posted by the micro influencer they follower, so making sure you’re giving them the freedom to create their own content for your campaigns is a great way to maximize their reach.