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Say Goodbye to Wasted Ad Spend: Why Micro-Influencers Are the Future of Advertising
7 Ways to Measure the ROI of Influencers
It is not an easy task for brands to decide how to spend their marketing dollars.
There is the hard choice between long-term brand building versus short-term sales, and then more choices about the channel, the target, and importantly, the message.
There is this quote from Lord Leverhulme (and/or John Wanamaker, depending on which side of the pond you were educated) that is used by marketers: “Half the money I spend on advertising is wasted, and the trouble is I don’t know which half.”
“Half the money I spend on advertising is wasted, and the trouble is I don’t know which half.”
In recent years, the rise of social media platforms has given birth to a new type of celebrity: the influencer. Brands are now collaborating with influencers to promote their products, but not all influencers are created equal. Nano- and micro-influencers have emerged as a cost-effective alternative to working with celebrity influencers and even traditional advertising.
In this post, we will discuss how nano- and micro-influencers can be identified from social media and used as brand ambassadors using a private online community. We will also explore the value (ROI) that these influencers bring to brands through their reach and level of positive engagement with consumers.
Nano- and micro-influencers are social media users with a relatively small following, typically between 1,000 to 10,000 followers for nano-influencers and 10,000 to 100,000 for micro-influencers — there are multiple definitions that seem arbitrary. These influencers have a highly engaged audience and a niche interest area, which makes them highly influential within their specific community.
Brands can identify these influencers by simply searching for relevant hashtags or keywords, or by using influencer marketing platforms such as listening247, which allow brands to search for influencers based on specific criteria, such as location, gender, self proclaimed expertise shared content or engagement rates.
