Hello, HYDP readers. It's no secret that the influencer marketing landscape has changed dramatically over time. Unlike the early days, when follower count dictated success, a wide variety of metrics now determine the effectiveness of influencer marketing campaigns. Nowadays, authenticity, brand safety, engagement, and return on investment (ROI) all play critical roles. Consequently, brands are embracing the idea that less can indeed be more, especially given the rise of small influencers.
The Power of Small Influencers in Brand Strategy
When engaging in influencer marketing, brands should consider the full spectrum of potential influencers – not just the ones with massive followings. Brands that join forces with small influencers can attain more value from fewer spent resources, boosting ROI.
According to eMarketer, creator economy spending declined by 51% from 2021 to 2022. However, creator-focused startups in the U.S. grew from 50 to 325 during the same period. These statistics highlight the heightened need for maximizing ROI in the creator economy. Small influencers, comprising both micro and nano categories, offer an avenue to achieve that.
Authenticity and Influence - A Perfect Blend
Micro-influencers typically have anywhere between 10,000 to 50,000 followers, while nano-influencers can have as few as a hundred, going up to 10,000. By virtue of their relatively small followings, these influencers maintain a sense of authenticity, which can be a pivotal factor for successful campaigns. Audiences often feel deeper connections with smaller influencers compared to celebrity figures, boosting the impact of their recommendations.
A Route to Higher Engagement
One major advantage of small influencers is their significantly higher engagement rate. Micro- and nano-influencers converse with their followers 22 times more frequently than other influencers. Additionally, small influencers usually specialize in niche verticals, allowing brands to target specific audiences more effectively. This helps improve brand positioning and extend brand reach.
Building Strong Relationships
One overlooked gold mine for potential micro- or nano-influencers could be amongst your current followers. Some of them might already have sizable social media followings and may even be recommending your product to others. These creators could unlock new perspectives and ideas about your product, invigorating your influencer marketing strategy and establishing new ways to connect with vital audiences.
Diversifying Reach Across Social Platforms
Diversification is key to a successful influencer marketing strategy. Apart from mainstream platforms like TikTok, Instagram, Facebook, and YouTube, your brand might fit perfectly on less-frequented platforms such as Etsy or Reddit. Collaborating with lesser-known influencers on these platforms can yield significant results without breaking the bank.
Regardless of whether you're looking to collaborate with small influencers or ones with a larger following, HYDP has you covered. Using the Creator Marketplace, you can find influencers of all types to fit your campaign.
Influencers:
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Marketers:
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