Say, you are running a $300 marketing campaign to acquire more buyers for your business. And say, you want to focus on running digital ads on apps like Instagram.
If you already know who your target buyers are, it is a waste of money to run ads.
Reason 1: Cost/ad impression can go up to $2. Your $300 budget will expire after 150 impression.
Reason 2: The algorithm for placing ads is not perfect (relies too much on hashtags and other metrics) - out of the 150 impression, more than 50% could be people who are far from your target buyer.
If you already know who your target buyers are, you should run an influencer-marketing campaign.
Reason 1: Lower cost/ad impression
Reason 2: Influencers have already aggregated followers with related interests (food account will mainly have followers who like food and are nearby).
Reason 3: It is not an ad. It is a relationship that you build with another human - people are more likely to engage and buy into an influencer's post than an ad.
With that in mind, let's dive into the chart. The chart shows few options you have to run an influencer-marketing campaign:
It is much more cost efficient to hire micro-influencers than to hire one expensive influencer. Their followers are much more niche with higher average engagement rate (likes, comments, share, etc) and more loyal with closer relationship (micro-influencers reply to each comment, etc).
However, there are few problems with this approach. You may wonder:
- How do you find micro-influencers with high average engagement rate?
- What should I DM to these micro-influencers? How do I know they aren't going to scam me?
- Once micro-influencers do want to collaborate, what should I say?
These are valid questions that we also were wondering. We, the founders of Mefluence, were also startup owners separately and struggled to run an influencer-marketing campaign. This is why we decided to create Mefluence - an app that helps business craft campaign, find micro-influencers, automatically send campaign and track the result.
Furthermore, unlike our competitors, Mefluence is completely free: it has no sign up fee or monthly fee. We are also giving out free trial to small businesses in United States - we are giving out 2-3 free micro-influencers so you can try what's it like to run an influencer-marketing campaign without any risk. (sign up here).