Micro-influencer—what’s that? Along with influencer marketing, micro-influencer is the term all modern marketers have added to their repertoire.
Nevertheless, what does micro-influencer mean and how can brands benefit? Though there isn’t a standard definition for the term (yet), I like how Forbes defines it, “More and more, brands are turning to people with far fewer numbers and followers—sometimes even as low as 8,000—to help them share their messages.”
Interestingly, 67% of marketers struggle most with finding relevant influencers, according to a TapInfluence and Altimeter study. On top of that, how do you find the right micro-influencer to represent your brand? Ahhh!
We’ll there’s a logical answer to that. The simple answer is, if there’s alignment between the influencer’s audience and the brand’s audience and you have data that suggests a high degree of relevance, you’re good. We’ve modeled this in what I like to call, “Pyramid of Influence.”
Naturally, marketers often gravitate to the top of the pyramid, that’s where celebrities live, like Beyonce or Lady Gaga. At the bottom, you have brand evangelists, typically, though, these people write reviews and provide ratings, but don’t have a significant level of influence except in their aggregate.
The missed opportunity is in the power middle and that’s exactly where you’ll find your micro-influencers. The best analogy is thinking about an SEO or SEM strategy. Celebrities sit at the top of the pyramid, that’s similar to bidding on very competitive and often expensive keywords. Whereas, micro-influencers understand the pain-points and the questions people are asking, so going back to the SEO and SEM analogy, micro-influencers are like your long-tail keywords. Similarly, micro-influencers and longtail keywords are powerful because it’s arguably where you’ll find the most purchase intent with your intended audience.
So why micro-influencers? Here’s some food for thought:
1. Authenticity Influencer marketing outperforms traditional digital advertising by 11X because consumers would rather hear from real people than brands. That’s advertising. As influencer marketing becomes more prevalent, consumers will continue to crave connection to more authentic experiences that only these influencers can deliver. 2. Millennials By 2020, Millennials will total more than 1.4 Trillion in spending power.