Influencer marketing has emerged as one of the most cost-effective and result oriented marketing channels in the recent times. This makes it easy to understand as to why small and medium business focused on enhancing their growth and reach are investing in influencer marketing campaigns. In order to maximize the effectiveness of these campaigns and improve the ROI of the campaign, it is important for companies offering social media marketing to find the right influencers and carefully plan the digital marketing strategies. In fact, the investment needs of such a campaign are deeply impacted by type of influencers chosen. However, to be able to make the right choice, the marketing professionals need to have a thorough understanding of the options available to them.
What are Influencers?
Before learning about the influencer options available, it is important to understand what the term means. Influencers are defined as people capable of affecting the buying decision of a large section of audience within a niche through their recommendations and opinions. There are generally following two main types of influencers, who can prove effective in expanding the reach of a business.
Macro Influencers – This group mostly comprises of celebrities and people who are a household name amongst the target audiences for a business. They are generally able to influence large sections of population on the basis of the fact that they are extremely well-known and respected. They might not necessarily be related to the specific business niche but are surely the leaders in their own field. However, these planning a marketing campaign with these influencers can be quite expensive as they charge a hefty amount for every single post.
Micro Influencers – People belonging to this category of influencers, are not generally as well known, but are easily recognizable amongst the general public. They are also able to influence only a relatively smaller group of the target audiences, although they tend to enjoy a more personal connection with their followers. It is this single factor that makes them almost as powerful and effective as the macro influencers. Moreover, the cost of using people from this group is much lesser than that involved with using macro influencers.
Factors to Consider for Making the Right Choice
Having learned about the types of influencers that companies offering SMO services can use in their marketing campaigns, the next big question is about choosing the right ones. Both the macro influencers and micro influencers come with their own sets of benefits and drawbacks. That’s why it is essential for the marketing professionals to consider the following factors before choosing the one that is likely to provide the best results for their client business:
1. Overall Budget of the Campaign – Given that the cost difference between using macro influencers and micro influencers is significantly high, the overall campaign budget can prove to be a vital consideration. Being a relatively new marketing channel, there is preset price structure for different influencers and this can prove to be a major challenge for people intending to use them. Another important aspect in this respect might be the size and scope of the client business.
The goals that the marketing professionals intend to achieve for their client business through the influencer campaign is also likely to impact the choice. In general, small and medium business seeking to establish a brand identity in a highly competitive market, are likely to benefit more by choosing a couple of macro influencers, rather than a large group of micro influencers.
2. Type of Target Audiences to be Influenced – One of the most important benefits to be exploited by investing in influencer marketing campaign is leveraging the popularity of the influencer for enhancing market reach. However, each business needs to present itself to the target audience in a unique manner based on their overall campaign objectives.
If the objective is to establish a sense of trust and reliability amongst the audiences, then using micro influencers might prove more beneficial as they will be able to connect to the audiences on a more personal level. However, if the objective is to reach out to the maximum number or people in the minimum time and cost-effective manner, than macro influencers will definitely prove to be the right choice.
3. Expected Response of the Audience – The companies providing social media marketing services also need to take into account the type of response to the influencer campaign they expect from their audience. For businesses intending for effective brand recognition amongst the audiences, using macro influencers is the best bet.
However, if the businesses are expecting a significant increase in their sales and revenue then a combination of both macro and micro influencer campaign is a suitable choice. While the size and level of engagement with the audience is extremely important, an influencer’s ability to actually make the audiences act on their recommendation is the key for ensuring the success of a campaign and hence a vital factor to consider.