11/06/2024
If you are going to leverage influencer marketing, this is why you should focus on nano-influencers over micro-influencers and big, well-known influencers in general.
It's hard to make influencer marketing profitable.
Here are the stats of a beauty company running a campaign with big influencers.
Total followers: 119 million
Total cost: $11,500
Number of influencers: 32
Impressions: 10.8 million
Total likes: 114k
Total comments: 1252
Total bio link clicks: 906
Total trackable conversions: 21
The campaign wasn't profitable.
Now, here are the stats for the micro-influencers (same campaign)
Total followers: 26 million
Total cost: $1,775
Number of influencers: 137
Impressions: 3.7 million
Total likes: 34k
Total comments: 335
Total bio link clicks: 278
Total trackable conversions: 9
This campaign wasn't profitable either, but when you look at a CPA, micro-influencers cost $130.55 versus $547.62.
Now, look at the cost for nano-influencers (influencers with 50,000 or fewer followers).
15% of the sale.
That's right, with the nano-influencers, we just paid out 15% of each traceable sale.
If an influencer drove revenue, we paid them, and if they didn't drive revenue we didn't pay them.
It's that simple.
Many nano-influencers won't accept a revenue share deal, but a good chunk will.
For every 100 nano influencers we contacted, roughly 21 were interested. Out of the 21 that were interested, 16 promoted the product.
Out of the 16 that moved forward, 11 of the influencers drove sales.
11 out of 100 isn't bad.
With big influencers, it's hard to get any of them to do a performance-based deal. And with micro-influencers, it is a tough pitch as well.
With nano-influencers, it isn't too hard of a pitch. Just look for ones that have already promoted another product or service. Those are the ones that are more likely to accept a deal.
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