Dialogue Q3 2019

Page 70

MARKETING

70

Small is beautiful The rise of the micro-influencer has begun, writes Kirsten Levermore

With the rise of celebrity culture, partnerships and sponsored promotion of products and services have played a significant part in many big marketing campaigns. Today, the use of popular personal social media accounts – so-called ‘influencer marketing’ – consistutes an estimated 10% of the average marketing budget, and a special report from Business Insider forecast that spending will rise to between $5 and $10 billion in the next three years. But the likes of the Kardashian-Jenners, Tiger Woods and David Beckham are no longer providing brands with bang for their buck. In fact, according to a new global study (The State

Dialogue Q3 2019

of Influencer Marketing 2019, from Influencer Marketing Hub), influencers with 50,000250,000 followers deliver a 30% better return on investment (ROI) compared to those with 250,000-1 million followers, and 20% better ROI than influencers with more than a million followers. Now is the time of the microinfluencer.

You’ve got a friend in me

Selling is hard. Reaching your target audience, approaching customers who may or may not be familiar with your offer, and earning trust are difficult, labour-intensive tasks. Influencer