A few years ago, marketers only had to worry about advertising in magazines and newspapers and maybe 30-second TV commercials to capture our undivided attention and sell us products. Nowadays, partnering with influencers for ads is the newest trend and it’s one of the most efficient marketing strategies.
There’s a clear reason why influencer marketing strategies are becoming more and more popular: They WORK!
Influencer marketing is one of the most successful ways for brands to reach a relevant audience and increase sales and engagement. Social media is fast becoming one of the most powerful digital marketing tools.
One of the statistics related to social media’s influence on consumer purchasing decisions is that more than 70% of consumers lean on social media to help make purchase decisions. Moreover, one of every two consumers making a purchase via social media claims it was spontaneous, just because they came across that product while browsing such platforms.
We are beginning to notice how powerful social media influencers are. The influencer marketing industry is set to reach $10 billion by 2020. Therefore, understanding the different types of influencers that exist on the market is important.
Although, the differences between them are more nuanced than the size of their following, social media influencers are split up into four different tiers: mega-, macro- micro- and nano-influencers according to their audiences.
Understanding the differences between these four types of influencers is important, as it will help you decide on the right one for your brand.
Macro-influencers are big-name experts in a field. They have a following of 100,000 to 1 million. These individuals obtained their fame outside of social media and they’re different from other influencers because they can mention your brand on mainstream channels like magazines, TV, and radio.
Macro influencers also have a dedicated audience that has grown organically over time, and are on the trajectory to becoming a power influencer. They reach a lot more consumers with each post than micro influencers can.
They usually tend to have lower engagement rates than their smaller counterparts (micro- and nano-influencers)
If your objective is to target masses, macro-influencers could be your best choice, as you really get the best of both micro and mega worlds with them.
However, the drawback, is that macro-influencers tend to have lower engagement rates than their smaller counterparts and you expect ROI, so you need pay closer attention to them because you want to get the results that you really paid for.
A micro-influencer is an individual who has between 10,000 to 100,000 followers. Micro-influencers are experts in their niche, generally known as topic specialists with valued opinions. Micro-influencers have much stronger connections than a typical influencer. They are called opinion leaders of a subject matter.
They often have large, yet engaged communities and work well for brands looking to target a specific niche. This is where micro influencers shine: reach and engagement. These two are important metrics in evaluating influencer marketing campaigns. It is ideal to work with these kind of influencers who can drive both of them.
Micro-influencers will often cost far less than macro-influencers.
Nano influencers are individuals with a following range between 1,000 to 10,000 people. Their audiences are small, niche, and highly engaged.
Most of their connections are family, friends, and acquaintances.
Compared to everyday social media users, nano-influencers might not seem pretty distinct. Nano-influencers are users who post sponsored posts by partnering with brands with lower marketing budgets. They are beneficial for incredibly niche campaigns because of their small following. Most of their relationships come from day to day life instead of from posting useful, relevant content for their followers.