Influencer marketing is a powerful tool that brands can use to connect with their target audiences.
Though mega-celebrities (think Kim Kardashian) often steal the macro-influencer spotlight, marketers should also be looking at micro-influencers. Their authentic connections with niche audiences can be the secret sauce that takes your brand to the next level.
So, how do you make the most of your influencer marketing campaign? Do you go with micro-influencers or macro-influencers?
The Rise of Influencer Marketing
Influencer marketing has been growing quickly, and it's not hard to see why. It's essentially word-of-mouth, and it can be used by any type of business.
Here are some recent statistics:
- More than 80% of marketers planned a budget for influencer marketing in 2023.
- The trust in social media influencers among Gen Z and Millennials has grown, increasing from 51% in 2019 to 61% in 2023.
- The 2023 influencer marketing industry was valued at $21.1 billion, a 29% annual increase from its previous valuation of $16.4 billion in 2022.
Those statistics speak volumes about influencers' value. Companies across industries, including B2B verticals, are jumping on board and spending larger and larger amounts of their marketing budgets on influencer marketing.
Types of Influencers: Nano, Micro, Macro, and Mega
If you're sold on influencer marketing for your brand, the first step is deciding what type of influencer you'd like to work with—micro or macro.
Definitions vary, but I define them using these parameters:
- Micro-influencers have 10,000-100,000 followers and tend to focus on a specific niche.
- Macro-influencers have more than 100,000 followers and tend to be athletes, thought leaders, celebrities, etc.
- There are also nano-influencers, who have fewer than 10,000 followers; and mega-influencers, who have more than 1 million followers.
Micro-Influencers vs. Macro-Influencers: Which Is Right for Your Brand?
There is no one-size-fits-all approach when choosing the type of influencer to work with. Each brings a unique set of pros and cons to the table, so the decision should be rooted in your company's unique goals, budget, and target audience.
Let's explore the six key factors to consider when deciding between micro-influencers and macro-influencers.
1. Engagement Rates
Micro-influencers often boast impressively high engagement rates, averaging 7%–20%. Their followers are deeply invested in their content because they share a profound interest in the influencer's niche.
Macro-influencers tend to have lower engagement rates, around 5%. More people see their content, but fewer followers actually engage with it. That's because their audiences are more diverse, and they may not be interested in all of the content the influencer posts.
2. Reach
Although micro-influencers excel in engagement, they have smaller overall followings compared with macro-influencers. So your campaign's total impressions may be limited.
However, similar to the benefits of local SEO services, micro-influencers reach a more focused audience. That can increase the chances of reaching your target demographic.
Macro-influencers possess vast reach, exposing your brand to a much larger audience. Moreover, the likelihood that their content will go viral is much higher. For instance, macro-influencers are more likely to have their posts featured in Instagram's Explore area, boosting visibility.
3. Niche
Micro-influencers typically concentrate on a specific niche or category, allowing them to cultivate a sense of expertise and community among their followers. They provide a more accessible platform to target your specific market.
As a result of their expansive reach, macro-influencers tend to cover a variety of topics rather than focusing on a single niche. That means they may not always post content within your niche or they may not have a following closely geared toward your target audience.
4. Authenticity
Micro-influencers are celebrated for their authenticity. They're less likely to have fake followers, resulting in more genuine and reliable engagement and feedback from their audience. The audience may be smaller, but there is a greater chance they are more authentic.
The risk of fake followers or an audience disinterested in your product increases with macro-influencers, potentially reducing campaign effectiveness.
Look for both very low and very high engagement rates. Extreme rates may indicate fake followers or engagement bots.
So, although macro-influencers provide a much larger following, the likelihood of reaching the right (or real) audience may be lower.
5. Negotiation Process
The negotiation process with micro-influencers is typically faster and more straightforward. Many can be reached via DM or email, eliminating the need for time-consuming phone calls or in-person meetings.
Macro-influencers usually have well-established processes for working with brands, though that process can often be lengthy and more complex.
6. Cost
Collaborating with micro-influencers is relatively budget-friendly. Their smaller following usually translates to more affordable rates. That makes micro-influencers ideal for longer-term campaigns that require ongoing engagement.
Macro-influencers can be expensive because of their celebrity status and broader reach. So, they are usually better suited for short-term promotions to create a quick, viral buzz.
Micro-influencer fees can range from $100 to $1,000 per post. Macro-influencers may charge anywhere from $5,000 to $40,000 per post; some charge upwards of six or seven figures.
It's best to choose based on your company's specific needs and budget. For example, a local small business with limited revenue may find that using micro-influencers in their region is the best approach.
Can You Work With Micro-Influencers as well as Macro-Influencers?
In some cases, a balanced approach using a mix of micro- and macro-influencers can be effective. You can divide your marketing campaign into two main strategies, leveraging the strengths of both types of influencers.
Balancing Each Other Out
Here's how employing both influencer types can benefit your marketing campaign:
- Broad reach and niche appeal: Macro-influencers can significantly increase brand visibility and awareness due to their large followings, whereas micro-influencers can effectively target niche markets with more-personalized and relevant content.
- Higher trust and credibility: Micro-influencers are often perceived as more authentic and trustworthy by their followers, leading to higher engagement rates and stronger brand loyalty.
- Diversified audience: Working with both micro- and macro-influencers allows brands to tap into diverse audiences, covering a wide spectrum of demographics and interests.
- Balanced budgeting: Micro-influencers typically cost less than macro-influencers, which can balance out the overall budget of the campaign.
- Risk mitigation: Working with a mix of influencers can help mitigate risk; if a campaign with a macro-influencer doesn't perform as expected, the micro-influencer can still drive engagement, and vice versa.
Considerations When Working With Both Types of Influencers
Although including both micro- and macro-influencers in your campaign has many benefits, consider some of the disadvantages, too:
- Complex campaign management: Managing multiple influencers, especially across different scales, can be challenging and time-consuming, requiring careful coordination and consistency in messaging.
- Inconsistent messaging: If not managed properly, there's a risk of inconsistent brand messaging; the brand's core message might get diluted or send mixed messages across different influencers.
- Potential audience overlap: If the micro- and macro-influencers share a good amount of followers, similar messages might repeatedly reach the same group of consumers, potentially diminishing the effectiveness of diverse influencer strategies.
- ROI measurement challenges: Measuring the ROI can be more complex when dealing with different types of influencers, because each contributes differently to campaign goals.
- Quality control: Ensuring that all content produced by multiple influencers meets the brand's quality standards and guidelines can be challenging.
How to Measure Influencer Marketing Effectiveness
Track metrics like the ones below to gauge influencer marketing success:
- Cost per thousand (CPM) impressions: Total Campaign Spend ÷ Number of Impressions × 1,000
- Engagement rate: Total Engagement (sum of all interactions—shares, comments, reactions, etc.) ÷ Total Followers × 100
- Click-through rate (CTR): Total Number of Clicks ÷ Total Number of Impressions (number of users who viewed the specific link) × 100
- ROI
- Sales data
Many calculators are available online to help you measure these metrics and the overall effectiveness of your campaign.
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Most brands prefer micro-influencers. However, if you have a larger budget or your aim is to raise awareness quickly and reach a broader audience, macro-influencers may be your ace in the hole.
Either way, keep in mind that the world of influencer marketing evolves quickly, so it's always a good idea to stay updated on the latest industry trends.
Ensure your chosen influencers align with your brand's values. Authenticity and a genuine connection between the influencer and your product or service are the key to the success of any influencer marketing campaign.
More Resources on Influencer Marketing Strategy and Campaigns
Four Types of Influencers for Your Influencer Marketing Campaigns
Five Benefits of Influencer Marketing for Recession-Proofing Your Brand
