A Matter Of Influence - The Rise of Micro & Nano Influencers.
Influencers they're not a new phenomenon, but their definition is changing in 2023. Due to the need for more authenticity, and a desire to gain attention and traction from local audiences, some businesses are looking to these creators to cement closer bonds with their audiences. In this week's blog, Jane Hayes Consulting looks at nano and micro-influencers in - A Matter Of Influence - The Rise of Micro & Nano Influencers, their role in marketing and how they are set to change influencer culture. Like a conversation with a trusted adviser, these smaller influencer groups can help draw a customer's attention to a brand and the benefits of a product or service and help create a faster emotional bond. The results are not instantaneous, and brands won’t get the star power of a traditional influencer, but gradually, through product reviews, conversations, and repeat exposure, their genuine interest in the product or service can influence the consumer.
From a cost perspective, they are more attainable than the mega influencers. A recent report from Shopify stated that a post from a nano influencer can cost between $10-$100 per post, and a micro-influencer will cost between $100-$500; in the middle ground, a mid-tier influencer will cost between $500-$5000, and at the top end of the chain a mega influencer can charge around $10,000. Reports suggest that when it comes to reaching, the higher the following, the lower the engagement rate, so bigger doesn’t necessarily mean better! No matter the charge-out rate, it’s crucial that you think about what you want to achieve through your partnership with an influencer.
Are you looking at brand or product awareness and more customer engagement, or are you looking at tapping into a different market, such as GenZ? Next, think about the year ahead and the budget you have; one post may not make the difference you want, so do you have the funds to have a multi-post campaign, in marketing, repetition is essential to truly get the message into the customer's subconscious.
Before choosing an influencer, review your choices with the below criteria:
Before making any decision for your brand, it’s important to weigh the pros and cons and see what methods are best to invest in to achieve your objectives. Don’t pick any influencer; review them with the below criteria to ensure they help you achieve your goals.
· Number of followers
· Engagement rate
· Relevance
· Authenticity
· Values
· Content quality
· Frequency
· Reliability
· Audience quality
Data from HypeAuditor found that nano-influencers with fewer than 5,000 followers have the highest engagement rates (5%). This seems to decrease as the follower count skyrockets until reaching celebrity level (1.6%).
1. What are micro & nano influencers, & how do they differ from traditional influencers?
Micro-influencers are defined as social media users with between 1,000 and 10,000 followers, while nano-influencers have between 100 and 1,000 followers. Although they have a smaller following than more traditional celebrities or social media influencers, micro- and nano-influencers are considered to be more authentic and relatable. As a result, they are often able to generate higher levels of engagement with their audience.
Micro- and nano-influencers can effectively promote products or services to niche markets. For example, if a company wants to reach out to new moms, they could work with a micro-influencer specialising in motherhood content. Because micro- and nano-influencers typically have a high level of engagement with their audience, they can be a valuable asset for any business looking to reach new customers and increase engagement.
2. Why are micro & nano influencers becoming more popular, especially among younger audiences?
Younger audiences demand more authenticity and personalisation in their brand interaction; they’re digitally savvy and can spot a digital fraud from a mile away. They’re increasingly drawn to micro and nano influencers due to the authenticity and relatability of their content. These influencers bridge the gap between everyday life and consumerism in a way that resonates deeply with this demographic.
Micro and nano influencer posts tend to feel more approachable compared to larger accounts owned by well-known celebrities, giving young people an increased sense of accessibility. As micro-influencers usually have deeper ties with their viewers, this connection can often result in intense brand loyalty.
The majority (77%) of marketers say micro influencers top their list of ideal influencers, shortly followed by macro-influencers (64%). No-payment and affiliate influencers fall by the wayside, with fewer than one in five brands adding them to their ideal collaborations list. Shopify
3. How can brands use micro & nano influencers to reach their target markets more effectively?
One of the myriads of benefits of collaborating with nano and micro-influencers is that they have passion and expertise and attract audiences that love niche products and or services. These creators can talk to the benefits of the product through product testing, reviews and unboxing content that speak more authentically than the mega influencer or celebrity ambassador. These reviews and product tests can lead to strong levels of engagement, which can lead to sales.
Micro and nano influencers act as trusted advisers offering honest advice like that of a friend or family member, and this can speak louder for many sectors and brands than a highly polished marketing piece or celebrity endorsement. Both groups are an excellent addition to a brand or product awareness campaign as they can speak to the attributes and benefits of the product compared to those of a competitor. Brands can also utilise these creator groups for sampling campaigns and sales/offers.
Think of influencers as another layer of your marketing strategy in combination with other digital, print or in-store activations. Influencers provide a much-needed human element to a marketing strategy, which can be great if you and your team don’t want to be the face of your content.
4. The risks and rewards associated with using micro & nano influencers?
Like most marketing activities, there are risks and rewards in collaborating with influencer groups. Before conducting an influencer campaign, asses your objectives. Will an influencer campaign assist you in achieving your goals? Below we break down some of the risks and rewards you and your business should consider before investing in the area.
Risks:
Less experienced.
Not as aware of their audience breakdown.
Less strategic.
Less focused reporting.
Greater vetting is required.
Can be harder to find.
Rewards:
More authentic messaging.
The ability to tap into niece audiences.
Conversational marketing.
Higher engagement.
Better geographic targeting.
Greater ROI.
Greater emotional connection.
Cost-effective.
More creative control.
5. Which platforms are the best for influencers?
According to research conducted by Oberlo, Instagram is the most popular platform for influencer content. They go on to state that 76.7% of marketers are expected to use the platform for influencer campaigns in 2023, a 4.1% increase. In second place sits Facebook, which is used by 58% of marketers then coming in at third place is TikTok. TikTok sees 50% of marketers conducting influencer campaigns, given the age of the platform; it’s a dramatic statistic given that in around 2020, just 36% conducted campaigns on the platform.
In saying this, it’s important that you use the right platform for you, your brand and your audience. There's no point conducting an influencer campaign on TikTok, for example, if there won’t be a return on investment. If you are thinking of investing in the area, do it on a platform that your audience gravitates to.
6. Which sectors use influencers the most?
As seen in the statistics below from Statista, the top sector that uses influencers in their campaigns is tech, with gaming coming in second place and CBD/marijuana taking the final slot. These may currently be the top sectors that use influencers, but with the rise of micro and nano influencers, this may change. These creator groups offer lower fees, and with the greater need for video content and authenticity, we may see a change in these statistics in the year ahead.
7. What are some tips for finding the right micro or nano influencer for your brand or business?
Finding the right fit is vital if you’re considering investing in the area. Do your research and see who produces collateral that uses the right language and tone of voice, is engaging, and who will connect with your brand and audience. Additionally, assess potential micro and nano influencers by looking at who else they may be collaborating with; this will provide you with more clarity on if they are the right fit. Finally, ensure you have clear expectations regarding what you expect from the micro/nano influencer in terms of outcome metrics before signing any agreement with them to ensure they will deliver value for your brand.
Research your competitors and who they use.
Conduct social listening.
Research influencer groups on your selected platform.
Connect with management groups.
Connect with an influencer marketplace.
Data from Statista found that there are many more women than men working in the influencer marketing industry. Approximately 84% of all social media influencers are women, compared to just 16% men.
Jane Hayes Consulting, Leading You Through The Digital World:
Jane Hayes Consulting is an independent digital marketing agency founded to help businesses create consistent, creatively aligned, and strategic content. We can help you put your best foot forward with our expertly crafted team covering website design and building, marketing strategy, content creation, brand creation, and project management. Jane Hayes Consulting works within budget restraints and looks toward the future. Need assistance in developing your digital strategy and creating a business advantage? Contact Jane Hayes Consulting today and sign up for our newsletter.