By now, it’s evident that influencers have taken social media by storm, with it continuously proving to be a stable career option. We’re part of an age where becoming an influencer is on the radar of what kids want to be when they grow up.
However, micro-influencers are a fairly new phenomenon and show that you don’t need millions of followers to generate revenue from content.
You may be wondering, what is a micro-influencer? Well, look no further! Here we’ve provided you with 25 must-know micro-influencer stats to give you an insight into the world of content creation.
Here at Embryo, we are forever adapting the best social media marketing strategies, and micro-influencers are just one of the ways to get your brand out there. Want expert knowledge on how you can use the power of micro-influencers as part of boosting your business? Contact us today by phone at 0161 327 2635 or email at [email protected].
What Is a Micro-Influencer?
A good place to start is differentiating between micro-influencers compared to mega- and macro-influencers.
A micro-influencer is someone who has between 10,000 to 100,000 followers on a social media platform. They tend to work with brands to promote products and as a result, earn revenue.
Due to a smaller follower count, these products tend to appeal to more niche communities that correlate with the micro-influencers feed. Therefore, brands have access to a much more specific target audience.
Why Micro-Influencers Are Good Value for Money
Opting for a micro-influencer to promote your product is a perfect way to save money and reach out to your target audience. They typically charge lower rates in comparison to mega- or macro-influencers with the added bonus of influencing a niche community perfect for your product.
A micro-influencer following tends to be more engaged, with an increased level of awareness and care towards what the influencer produces. Therefore, your product can have valuable attention with less of a cut from your marketing budget.
Having a micro-influencer on board allows brands with lower marketing budgets to still achieve impactful results and have access to their desired demographic. As well as the audience has an extra level of care, so do the micro-influencers themselves.
There is a heightened level of personality to their posts, making for a more genuine, well-thought-out promotion. With this comes a relationship of trust with their audience, so their opinion towards your product is respected and listened to.
5 Statistics that Prove Micro-Influencers Are Well Worth Working With
- While macro- and mega-influencers charge between $5,000-$10,000 dollars, micro-influencers charge a fraction of this price with $100-$500 for a post.
- Mega-influencers see engagement rates as low as 1.97% on Instagram, which is nothing in comparison to a micro-influencers 6% engagement rate!
- 90% of surveyed marketers claim they prefer working with micro-influencers. It’s no surprise why!
- 92% of consumers trust earned media or influencer marketing as opposed to conventional methods of advertising.
- 82% of consumers stated that they are more likely to listen to a micro-influencer recommendation than more prominent influencers. Micro-influencers have the authority around here.
20 Statistics About Micro-Influencers
- Micro-influencers are in fact the largest group of creators, making up 47.3% of all content creators. They’re certainly dominating the industry!
- 56% of young Americans have purchased a product from someone they follow, so micro-influencers can be an extremely valuable tool!
- Micro-influencers have over a 20% higher conversion rate, helping to boost your brand’s sales.
- The influencer marketing industry is expected to reach a whopping $21.1 billion in 2023!
- When choosing a micro-influencer to promote your brand, an engagement rate of 2-3% is seen as ideal.
- As a rule, the baseline for cost should be around $100-$300 per 10k followers. There’s no need to worry about wasting your budget.
- Micro-influencers take part in ‘buying conversations’ 22.2 times more than the average consumer on a weekly basis.
- The most common platforms for micro-influencers are Instagram, TikTok and Youtube.
- Many micro-influencers discuss just one to three topics on their page, so accessing your target audience has never been easier!
- Images posted by micro-influencers gain 20% ROI, which is 7% more than macro-influencers. Just because they’re micro doesn’t mean they have minor results!
- For 2023, 67% of marketers plan on increasing their budgets– why not use micro-influencers for less of a blow to your budget?
- According to 44% of marketers, the biggest benefit of working with micro-influencers is a lower cost. What’s not to love?
- Only 14% of marketers prefer celebrity influencers, proving that micro-influencers are a must-have!
- 72% of businesses run in-house marketing campaigns due to fear of fake influencers. Make sure to research your micro-influencer before placing your trust in them.
- 56% of marketers work with micro-influencers. Their popularity is well deserved!
- Expenditures related to micro-influencer marketing are expected to reach $4.5 billion in the US alone in 2023! Their growth is truly unstoppable.
- 88% of people say it’s important for influencers to be authentic and have a genuine interest towards their topics, which micro-influencers certainly do.
- The average micro-influencer engagement rate is 17.96% on TikTok.
- In contrast, the average for a mega-influencer is 4.6%– no wonder marketers are opting for micro-influencers!
- A micro-influencer with 10,000 to 50,000 followers will typically have an 8.5% story exposure.
Transform your Marketing with Micro-Influencers
Hopefully, these statistics have given you more insight as to why micro-influencers are so sought after by marketers. With their levels of engagement, authenticity and low cost, it’s not hard to understand why!
With the influencer marketing industry continuously growing, it’s so important to remain updated as to how you can get the best possible results from influencer marketing, and micro-influencers are a great addition to your social media marketing strategy.
To learn more about how you can benefit from micro-influencers, get in touch with our expert team by phone at 0161 327 2635 or email at [email protected]. You can also view our case studies to learn more about our success stories!