Increasing impact of social media micro-influencers over the advertisement market.
With the change in technology and the increasing dominance of social media in the society, the advertisement industry has shifted towards the social media more than any other conventional forms of advertising such as TV, pay per click, and radio, with the micro-influencers with followers around the range of 100,000 chosen more because of the better return rate with small investments as compared to that of mega-influencers charging up to $200,000 for a single post.
The micro-influencers focus more on specific niches or categories, which enables them to develop more tailored, personal interactions with their audiences resulting in stronger engagement rates and higher returns on investment as compared with the figures achieved by any mega-influencers with an increase in return over 800% with the help of a cluster of micro-influencers rather than a single mega-influencer, with the additional advantage of more flexible payment modes.
References – Influencer Marketing
- Popularity 10.0
- Inventiveness 2.0
- Engagement 10.0
- Human Centricity 3.0