| | | NEW CHART: The Influencer Marketing Report |
| Here's why microinfluencers are the most popular tier of influencers in terms of overall brand spend… Even though campaigns with micros are less expensive, brands spend more with them overall. Celebrity influencers make up just 28% of annual influencer spend, compared with 40% for microinfluencers, per Rakuten. That's in part because the pool of micros is so much broader: While there are relatively few top-tier celebrity or megainfluencers by comparison, nearly one-third of all Instagram channels are microinfluencers, per InfluencerDB.
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| | | | Unlike megainfluencers, microinfluencers tend to have stronger relationships with their followers, which often leads to greater authenticity, engagement, and ROI. Microinfluencers are perceived as thought leaders with expertise in a particular niche. Because they have comparatively lower reach, microinfluencers typically charge less than celebrities, but their more targeted, engaged audiences still drive strong returns. Although there are exceptions to the rule, engagement tends to drop as an influencer's following grows. For a microinfluencer, a "good" engagement rate can be anywhere from 10% to 15%, compared with 5% to 7% for a mid-tier influencer, and 1% to 2% for a macroinfluencer, Katie Fé Delane, talent manager at influencer agency Socialyte, told Business Insider Intelligence. Brands looking to target a specific niche with a microinfluencer can work with agencies to locate someone aligned with their brand message or specific campaign. Working with an agency will also ensure that this talent has been vetted, which is an important consideration for brands considering deals with micros and nanos, who tend to have less or no experience working with brands. Beyond working with agencies to locate talent, brands can also find micro- and nanoinfluencers organically. For example, an influencer might attract a brand's attention by tagging it in a piece of sponsored content. Even if they don't have a relationship with the brand, budding influencers looking to land deals with brands are creating so-called fake sponcon. This type of activity can be compared with the traditional advertising world, in which to land jobs, people will produce creative on spec. "These are people that are going out of their way to create highly customized advertising that resonates with their audience and drives action," Taylor Lorenz — a reporter covering internet culture for The Atlantic — told Business Insider Intelligence. If this work appeals to a brand, that can lead to more organically formed partnerships, which can actually save a brand... |
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