26 June 2023 Pantul Kothari
‘Influence’ is synonymous with ‘Celebrities.’ We all agree that brands use celebrities to connect with consumers, influence their purchases and create goodwill towards them. But, celebrities neither come for free, nor dirt-cheap. It is easy for big brands and mega organisations to hire their services. So, where does this leave small and medium-sized companies?
Collaborating with influencers comes with a cost that’s based on factors like brand appeal and interaction metrics – but primarily, Follower Count. Micro-influencers, as the name clearly implies, come with a follower range of 10k to 100k on social media platforms. They are knowledgeable in a specific niche of their industry. For instance, the most popular Micro-influencers on Instagram tend to specialise in specific niches like lifestyle, fitness, automobile, travel, tech, fashion, food, family and pets. Brands also rope them to reach out to smaller communities. Although, Micro-influencers are yet to break into the big league of influences, and hence they strive to work harder and try to gain more knowledge in their area of interest. Most importantly, they provide an affordable option, compared to their mainstream counterparts.
Micro-influencers might have a modest following, but they are big on impact. It is easier for Micro-influencers to establish deeper personal connections with their audience. An organic fit of the brand with the audience has a greater chance of developing with a Micro-influencer.
A higher conversion rate seems more likely with them around. Brands could embrace this relationship to their advantage and use it as an advocate-building opportunity.
Micro-influencers are here, and in all likelihoods will grow in numbers in the future. However, identifying the right Micro-influencers can be quite a challenge for brands. AI can be employed to help address this challenge. It can help brands analyse influencers’ engagement rates, audience demographics and past performance. Additionally, it might monitor the performance of a campaign and provide valuable insights on what will drive better engagement rates. AI-powered tools can help brands to save time and resources, optimise their campaigns and achieve better ROI.
In conclusion, Micro-influencers are a worthwhile investment, especially for small and medium-sized businesses. If chosen wisely, they can indeed be the marketing ninjas of the future: Small, yet Mighty.
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