Digital marketing has taken a whole new turn with the rise of influencers. Chances are, you have looked into a product because you saw someone promoting it on social media. Influencers have become an integral part of digital marketing in just a short period of time because they have strong relations with their followers and feel much more relatable than celebrities. Audiences are more prone to buy products promoted by these internet-sensations because each individual has their own unique brand, and remain true to it. Whereas celebrities, it is clear when they are being paid for a sponsorship and most times the celebrity does not even believe in the brand.
Companies like to categorize influencers into two categories, micro and macro.
Micro influencers are those who have a following between 10,000 – 100,000 and macro influencers have more than 100,000 and can even reach the millions. When it comes to creating a partnership with them, it is highly important that the brand knows which type of influencer they want to use. At first glance, the difference between the two is obvious; macro influencers have a higher reach and a broader audience, whereas micro have a smaller reach and a more niche audience.
It all comes down to what type of influencer marketing each specific company wants and how much they are willing to spend on an influencer. Big time bloggers and vloggers can charge around a minimum price of $10,000 per post and are more selective as to what companies they work with. Smaller influencers charge anywhere from $1,000 to $5,00 depending on the strength of their engagement rate.
A recent report by Launchmetrics has shown that companies are currently leaning towards micro influencers as their first choice. This could be explained by the desire to grow together. If an up-and-coming influencer likes the product and believes in the brand, then they are more likely to have a partnership that lasts for years.
The Boucher + Co. team has long recommended micro influencers be the cornerstone of a sound influencer marketing strategy.
It is not enough to just run ads on social media, influencers have become essential to get people talking about your product/service.