April 21, 2020 | Article | by Bailey Gray | Content, Social Media
Which Type of Influencer Marketing Is Right for Your Brand?
Not too long ago, mass marketing gave consumers little choice but to follow the leader. In the pre-Internet era, businesses also thrived through “word of mouth” recommendations, but once the Internet became mainstream, TV and newspaper ads no longer held the same influencing power. However, personal recommendations are still highly effective—just in a different way. Right now, online reviews and ratings are king. Consumers care what other shoppers think more than ever and they’re not just looking to their friends for recommendations. They’re looking to influencers.
Businesses are benefiting from using influencers and their substantial reach in their marketing strategy. On average, companies are making $5.20 for every dollar they spend on influencer marketing. They also experience benefits like increased brand exposure, higher sales, and a better online reputation.
However, using the right type of influencer is crucial. Influencers range from nano influencers and micro influencers to celebrity-influencers and when you choose the right level, you will experience some big rewards. This guide will help you decide which kind of influencer is right for your marketing strategy.
Nano-influencers have between 1k to 10k followers on their social media channels. While these individuals may have lower reach than other influencers, they can speak authentically without being under a scrutinizing microscope. These influencers tend to have authentic, quality followers that are niche, loyal, and highly engaged. Never underestimate what an influencer at the small scale can accomplish through a dedicated audience!
Micro-influencers have between 10k to 50k followers. Naturally, these individuals have a broader reach and can give your brand more exposure. Many brands have seen the advantages of using this type of influencer over a celebrity. While micro-influencers have a fairly large following, they still tend to be relatable and maintain a deep connection with a highly engaged, loyal audience.
Mid-Tier influencers typically have 50k to 500k followers. These people are more established than micro-influencers but still have slightly less reach than macro-influencers and celebrities. Brands that partner with mid-tier influencers often experience influencer marketing benefits like increased brand awareness, positive ROI, and very high audience engagement. One thing to note is that as the audience pool becomes wider, it will in turn become less niche. So brands that want to cast a wider net may choose to partner with mid-tier influencers and reach a more diverse group of people.
Macro influencers generally have 500k to 1 million followers. Partnering with this type of influencer has many benefits. Macro influencers are often local celebrities who are known in their area but may not have a national or global influence. Consider them a more well-known version of a mid-tier influencer that isn’t quite a big-time celebrity.
This type of influencer has a broader audience than any of the preceding levels, moving away from the niche appeal of mid-tier and below. Marketers consider this level highly cost-effective because of the macro influencer’s large and broader reach and their ability to maintain a “down-to-earth” appeal.
Celebrity or Mega Influencers
Celebrity influencers, also known as mega influencers, have over 1 million followers. When used strategically, they can make a big impact. Companies that can afford them can reap great rewards, but it’s important to weigh the risks, cost, and benefits of hiring a celebrity for promotional purposes. According to recent data from Forbes, audiences seem to be growing tired of celebrity endorsements. Also, since it costs a lot to entice a celebrity to push a product, many companies have turned away from using them in their marketing to stay within budget.
Which Influencer Is Right for You?
The types of influencer marketing you need depends on many factors like your budget, desired audience, and what you want to promote. Different influencers work well for different types of campaigns and products. If you have any questions on determining which one is right for you, we’re always happy to chat.
REQ is on the front lines of the digital marketing and brand management business, helping companies just like you to stay one step ahead in the constantly evolving landscape of digital media.