Being an internet celebrity in 2019 is pretty sweet. If they choose to endorse products on social media, they can pull in massive pay days. Digiday reports that “super social influencers” — think PewDiePie, who has over 100 million subscribers on YouTube — may charge over $100,000 per branded video. Meanwhile, Instagrammers with 6 million followers or more can charge $20,000 to $100,000 for a single branded photo.
For most brands, it’s crazy expensive and could turn them off to the idea of influencer marketing altogether. But smart brands know that micro-influencers cost much less — and often lead to better results.
What Is A Micro Influencer?
A micro-influencer is loosely defined as a social media personality that has between 10,000 and 100,000 followers on any given platform. It’s the sweet spot for a few reasons:
- Micro-influencers are very affordable: Bloglovin’ reports that 84% of micro-influencers on Instagram charge less than $250 per branded Instagram post and 97% charge less than $500. Twitter is even cheaper, with 90% charging less than $150 per post. Meanwhile, Markerly finds that micro-influencers offer a killer combination of reach and high engagement. In short, you’re getting a very big bang for your buck.
- Micro-influencers typically have higher engagement rates: Having a crazy-high follower count may seem to be a huge advantage, but numbers aren’t everything. Having tons of followers isn’t too impressive if all of your posts are social ghost towns. Plus, engagement rates tend to drop as follower counts rise. That’s why micro-influencers offer follower counts that are just right. So, how much does a micro influencer campaign cost?
Micro Influencer Rates
Let’s say you have $5,000 to spend on influencer marketing. That wouldn’t even get you noticed by a top influencer, but if you spend it on micro-influencers you’ll get a lot. Here’s what you can get with $5,000 (according to Bloglovin’):
- 35 to 100 branded Instagram posts reaching 200,000 followers (Cost per impression (CPM) of $10 to $30).
- 60 to 200 branded Twitter posts reaching 315,000 followers (CPM of $8 to $20).
- 35 to 100 branded Facebook posts reaching 125,000 followers (CPM of $15 to $40).
- 10 to 35 branded blog posts reaching 315,000 followers (CPM of $20 to $50).
The bigger your ad spend, the more micro-influencers you can partner with to reach hyper-targeted audiences. And because micro-influencer content receives high engagement, your paid efforts will be infused with lots of organic reach (re-posts, shares, etc.).
When it comes to promoting through influencers, the right strategy isn’t always to spend more — it’s all about spending wisely. Take micro-influencer marketing for a spin — you might be surprised by the results.
Ready to find micro-influencers to promote your brand? Curalate’s got you covered. Check out Curalate Explore, which will help you find top-notch content and laser-target the perfect micro-influencers for any marketing campaign.