The model for television ads for decades was to use a known figure to promote a brand or product. This was known as Influencer Marketing. It could be a famous musician, sports player, or movie star. By gaining an endorsement by this known figure, they would influence the purchasing decisions of millions of others. The marketing world and many savvy brands are now shifting focus and spend to tap the “micro-influencer” movement.
As the Internet evolved to become a media outlet for advertising, the concept of Influencer Marketing moved its way over. Rather than purely being focused on extremely well-known people, companies began looking at people that had a “following” on social media, blogs or elsewhere, and began throwing money at them to promote a brand, product or service.
Recently, the music began to change and the party started to be less fun. First, Generation-Z and Millennials trust people they know – their family and their friends, but not necessarily corporate-sponsored advertising by someone. Second, in trying to measure the returns from these efforts, they began to understand that at some point the engagement rate drops precipitously with a growth in reach, followers or audience.
Forbes magazine recently ran an excellent piece by Amy Schoenberger titled “Going Mad For Micro: The Continuing Evolution Of Influencer Marketing” which really dives into the topic quite well. You can read it by clicking HERE.
Forbes notes that influencers with greater than 5,000 followers had an engagement rate of 3.3% while those with less than 5,000 followers had an engagement rate of 9.6%. The term “Micro-Influencer” was born for those with 5,000 or less followers. They are increasingly becoming an important factor in ad spending. Inevitably the “Nano-Influencer” will have hundreds rather than thousands of followers and have an even greater impact amongst their smaller group of family and friends.
One of the challenges is trying to target marketing campaigns to thousands of clusters of people associated with Micro-Influencers. Running a Super Bowl TV ad certainly is a heck of a lot easier to influence 60 million people at once, but clearly at a high price.
Social Flash Media’s marketing platform is focused on turning customers into brand ambassadors. As it turns out, they are now “Micro-Influencers” in modern terms. In marketing terms, this is also known as advocate-based marketing. Social Flash Media helps companies generate user-focused content which can be shared instantly by them on social media at no cost in terms of advertising budget. The most zealous and happy customers are glad to endorse a brand or venue in most cases when they are satisfied.
