There’s no denying that influencer marketing is one of the most popular and successful strategies used by marketers today. Businesses are known to get $7.65 in earned media value for every dollar spent on influencer marketing. Not only that, 57% of marketers have dedicated budgets for influencer marketing, and another 37% intend to do so.
With this growing popularity, brands are often faced with the task of finding the right influencers for their campaigns. The right influencers are the ones who can give them the best results at the lowest costs. Interest in micro-influencers is a growing trend in this space. They are the ones with anywhere between 1000 and 10,000 followers.
Because they have a smaller number of followers, they are able to build more personal relationships with them. As a result, their engagement rates are higher, and they’re a cost-effective solution too.
In this article, we will discuss 19 micro-influencer statistics that you need to know. These will certainly help you make an informed decision about your influencer marketing strategy in 2018.
19 Interesting Micro-influencer Statistics
1. When it comes to encouraging consumers to buy a product, micro-influencers share more direct recommendations. A study by Experticity found that 74% of them do so in comparison with 66% of the general population. Such direct recommendations are more likely to make consumers want to try out different brands or products.
2. The study also shows that 82% of consumers have a higher likelihood of acting upon recommendations from micro-influencers. In comparison, only 73% of consumers are likely to act upon the recommendations shared by an average person. This clearly indicates that these are more influential at governing consumer purchase decisions.
3. Most micro-influencers gain first-hand knowledge on products. Only 15% of them gather such information from their friends and family. However, in comparison, 26% of general population gain product knowledge from family and friends. Because these are able to gain product knowledge first hand, their recommendations are more credible and useful.
4. In a week, micro-influencers are likely to have purchased-related conversations 22.2X more than an average person. Such conversations involve product recommendations too. Collaborating with them, therefore, helps your business with greater brand awareness and visibility.
5. Another study by Bloglovin’ found that 70% of micro-influencers actually work on lesser than 5 marketing campaigns in a year. This clearly indicates how much of their potential lies untapped. Hence finding and connecting with the right micro-influencers who can help your marketing efforts might be easier than you think.
6. In the same study, 37% of micro-influencers reported fashion to be the most engaged industry on Instagram. This was followed by beauty at 24%. Instagram needs to be an integral part of your influencer marketing strategy if you're in the fashion or beauty industry.
7. Most micro-influencers post their content on blogs or Instagram. 89% of them post on blogs and 80% of them on Instagram. Hence, you need to include both these channels in your influencer marketing strategy.
8. This is one of the most interesting statistics. Instagram seems to be the popular choice for micro-influencers. 59% of them believe it is the most effective at engaging audiences. However, this margin differs greatly across industries so you need to decide your strategy accordingly.
9. 44% of micro-influencers believe followers to be the most important metric. However, a large number of them believe shares, likes, and comments to be the most important. This indicates that reach isn't the most accurate measure of engagement. Instead, you should be looking at likes, comments, and shares which are more critical factors.
10. 75% of micro-influencers believe that companies don't have a realistic idea of how much an influencer marketing campaign costs. For sponsored Instagram posts, 97% of them charge $500 or less for a single post. In fact, 84% of them charge $250 or less for a post.
11. For sponsored blog posts, most micro-influencers charge $1000 or less for a post. 96% charge $1000 or less, and 87% charge $500 or less per post. For Facebook posts, 96% charge $500 or less, and 90% charge $250 or less per post. And for branded tweets, 96% charge $200 or less, and 90% charge $150 or less per tweet. So the cost of working with influencers might be lesser than you actually anticipated.
12. A study by HelloSociety found that micro-influencers are able to generate 60% greater engagement than other campaigns. The main reason for this is that these are able to create a stronger bond with their followers. So their recommendations are trusted and valued more.
13. In the same study, it was found that micro-influencer content is 6.7X more efficient at engaging audiences than bigger influencers. So working with them is likely to be more cost-effective too. Working with influencers having massive follower counts isn't necessarily a better investment of your marketing budget.
14. Mediakix conducted a study analyzing more than 700 branded Instagram posts from brands like Sephora, Daniel Wellington, and 14 other brands. This study revealed many interesting statistics. It was found that these campaigns included content from 288 macro-influencers and 367 micro-influencers. The engagement rate for macro-influencers was 2.65% and that from micro-influencers was 2.75%.
15. In the same study, it was found that for Sephora’s posts, 21 macro-influencers and 28 micro-influencers were used. The reach generated by macro-influencers was 6.4X that of micro-influencers. However, the engagement rate from micro-influencers was 2.2X that of macro-influencers. So, if you partner with macro-influencers you can certainly reach more people, however, micro-influencers are more effective at engagement.
16. Mediahub has seen that for their entertainment and retail clients, using micro-influencers has increased engagement by 50%. For a particular retail client, influencers having 1000 followers generated 85% higher engagement than the ones having 100000 followers. And in their experience, engagement rate was found to be the most important measure of campaign effectiveness.
17. These campaigns were highly cost-effective too, with micro-influencers generating 10X greater efficiencies than macro-influencers.
18. In terms of engagement, influencers with large follower counts certainly got more likes than micro-influencers. However, when it comes to meaningful comments, sales, traffic, contest entries, they are the clear winners. They are more authentic in their storytelling and content. They are thought leaders in their niches and hence their followers are way more engaged and connected to them.
19. The engagement rate for influencers with 1000+ followers was 4.5%. This decreased gradually with increase in follower counts. And finally the ones with 100000+ followers have had engagement rates of 0.7% in the Mediahub study.
These statistics are certainly compelling enough to make you want to think about including micro-influencers in your influencer marketing. If you still haven’t thought about including them in your marketing strategy, you need to think again. They can be incredibly valuable to your marketing efforts and ROI.
And if you are already working with micro-influencers, keep nurturing your relationships with them. This will make your influencer marketing efforts truly successful.
Do you know of any other interesting statistics about micro-influencers? Let us know in the comments below.