In 2023, one can expect Influencer Marketing to establish a stronger presence. Brands are prioritising their budget into this strategy and exploring various A/B testing to better tailor their message. Multiple influencers, both Macro and Micro, are cherry-picked to creatively optimise every strategy with different varying content.
Long story short: Macro Influencers have followers of 100 000 upwards and are more expensive. They may be a better option depending on what your campaign goals are.
Micro-influencers are known to create engagement-driven content which is higher in relatability and resonation with their following. The consensus is that this influencer group is building up a rapport with their ideal type of community that is sustainable through time. Typically, you should be noting a 5% upwards form of engagement quality between the Influencer and their Following.
They are what the social realm defines as your “bestie” who offers solicited advice and advocation on products and services they believe in. Authenticity is at the forefront and the focus is planned on how they can be credible and trusted within their nurtured community.
Credits: @wafflecreamies
Precisely because Micro-Influencers are a growing brand, they know how to grow yours. They understand the “growing pains”. This category of Opinion Leaders is more cost-effective because they want you to give them a shot with their following. They want you to see their beauty and put your brand on their map to pave both your ways to campaign success.
Plus points include (and we repeat): Better campaign resonation quality, Higher engagement rates at more cost-effective prices.
This group of Influencers have a following of 100k upwards. Their average engagement rate is at 3%. In most instances, Macro-Influencers are mini local celebrities ranging from DJs, budding actors and actresses, models and other TV/radio personalities. They are considered to have quite a substantial influence on their following. Such influencers leverage their real-life popularity to quickly build an online presence and use that to their sponsorship advantage.
Macro-Influencers are quickly highly sought after by Brands because of their relatively high profiles. They are a quick solution to bringing out brand awareness due to their amplified reach. However, other than cost, Macro-Influencers have a lower engagement due to their larger following. They primarily focus on fostering a relationship in real-time and life and online social channels are utilised as a bulletin board to inform about their next activity/endorsement.
Credits: @soniachew
In relation to their high-profile image and related affiliations, their content creation scope is significantly much limited when compared to Micro-Influencers.
Both Micro and Macro Influencers have their merits and demerits. The determining factor as to which is a good fit for your brand relies on 2 things:
1. Campaign Goals
2. Budget
Some questions you need to ask yourself / Team:
- What stage is my Brand currently at? Is it still a newborn where the budget can be better used for building proper network infrastructure?
- Does engaging XXX over YYY make sense in my overarching goal of improving my brand quality?
- Am I able to pursue this further along or this is extremely time sensitive?
The evaluation point is to find out honestly if this strategy works for you at this junction. Far too many Brands have unrealistic goals that placed unnecessary pressure on the Team, thereby creating a hostile environment. This breeds poor campaigns and places focus on the wrong things. The goal here is to be critical of your Influencer Marketing Strategy objectives in order to devise a game plan that is scaled to work towards progressively in achieving your Brand’s ambition.
It is fundamental for every Brand today to do some form of Influencer Marketing, deciding whether a Macro or Micro-Influencer as your Brand’s extension is a better idea, can be tough. There are many elements that need to be revisited and considered consistently because The One actually represents your Brand.
While there are no direct textbook answers, it is the challenges that make the final point of the journey even sweeter and more lasting. When Brands finally found The One, you will notice that they stick with it for a long long time
Credits: @limrebecca for Gold Heart Jewelry (2016)
Credits: @goldheartjewelry, @limrebecca for Goldheart Jewelry (2023)