Influencer marketing is at an all-time high this year. Going into the internet means seeing all manners of influencers advertising various products directly or indirectly. These influencers have followers that can rival even the biggest celebrities in Hollywood, making them prime targets for marketers. However, they can be pretty costly and can be a precarious investment because of such costs.
Marketers are trying to develop a new strategy to take advantage of the influencer marketing boom. Various marketers decide that it might be better to support growing influencers instead of paying the big shots in the industry. This is because they are far cheaper to hire, and their loyalty can mean a lot in the future. This strategy is known to be micro-influencer marketing, and it’s considered one of the most influential marketing strategies of the decade.
What Is Micro-influencer Marketing?
Influencer marketing is all about taking advantage of influencers in the market and harnessing their fame. Unfortunately, the reality is that only about 5% of influencers are genuinely successful and earn millions of dollars in the industry. Despite this, influencer marketing has positive views from many marketers, with about 80% of them claiming that it’s effective.
But not many companies can afford million-dollar influencers. Furthermore, small companies have to rely on a meager budget for marketing. However, this does not mean they can’t afford influencer marketing.
Even small companies can afford such an effective strategy through a sub-strategy called micro-influencer marketing. Micro-influencer marketing is all about supporting smaller influencers and using their fame as a jump-off point for your products and services. Many experts believe that this is the way to go in the future, as micro-influencers are more affordable in the market.
Why Is It Effective?
Micro-influencers are cheap, and they are also easy to produce. Yes, that’s right, unlike big shot influencers in the industry, your company can have micro-influencers. You’re in the same growth projection as the influencers you create. This makes them very versatile.
Creation of Micro-Influencers
You can make anyone become a micro-influencer, given that they have some knowledge about the field and the site they will be utilizing. Think of your company as an investor, investing in an influencer’s growth and eventual fame in the future. Once they get famous, you can easily take advantage of that to grow your brand at a fraction of the price.
Another option is to find influencers who have a small following and give them the necessary funds to grow their audience. Once again, your company grows alongside your chosen micro-influencers fame.
Cheaper Costs, Less Risk
Since your company is spending less, your marketing strategy poses very few risks. You can diversify your strategy by getting more micro-influencers or utilizing alternative marketing strategies alongside this one. As a result, your budget becomes more versatile, leaving you with more options for marketing strategies.
This might not essentially translate into sales, but the authenticity of an influencer can affect consumer perception of your products. Macro-influencers are technically making online advertisements for companies, but micro-influencers make content for a company they truly believe in. This authenticity can drive more followers into your company, as content is more heartfelt.
Lastly, micro-influencers work in niches, and the niche they might have might be good for your business. Remember that broader reach doesn’t necessarily translate to sales, but a more focused and targeted reach does. These micro-influencers can have better and more intimate relationships with their audience, and this can help you build your brand better.
Micro-influencer marketing isn’t a strategy for all sorts of companies. Some marketing strategies can prove to be effective at a similar cost. One of them is telemarketing.
Some marketing strategies such as telemarketing are still effective today. Moreover, telemarketing outsourcing services are becoming cheaper than ever because of rapid globalization. The costs you have planned for micro-influencer marketing can be diverted into this reliable marketing strategy instead. It can drive sales if your products are already well-known to the people. If you don’t see success in micro-influencers, consider this marketing strategy instead.
Another alternative is search engine optimization (SEO). SEO strategies are becoming more robust than ever, with some strategies capable of building brands from the ground up. It’s a cheap and reliable service and one that can give your brand the necessary recognition it needs, without the requirement of an influencer.
Any blogger with SEO experience can drive your company to success. Moreover, such a strategy can lead your company to grow in no time. It might not drive the same sales figures as telemarketing, but it can increase your brand recognition higher than before.
Micro-influencers are a gold mine waiting to be discovered. Utilize them alongside the alternative marketing strategies indicated above to expand your company’s reach and translate leads to sales.