In a crowded marketplace, influencer marketing ranks as an effective strategy for brands to reach new audiences.
Yet, many marketers, whether in B2B or B2C, still equate influencer marketing with A-list celebrity promotion. Think Salesforce enlisting Matthew McConaughey to fight for AI and customer data privacy. Or model Hailey Bieber, wife of singer Justin Bieber, showing up in an Erewhon grocery Instagram story to talk about a great smoothie.
But for every big celebrity, hundreds of influencers work with companies of all sizes. Recent research from Influencer Marketing Hub finds that 26% of U.S.-based companies spend more than 40% of their total marketing budget on influencers.
Interestingly, another research report finds that nano influencers — those with fewer than 10,000 followers — yield a better ROI than some of the A-list celebrities.
Is it better to go with a few big, expensive influencers or do you go with many smaller, inexpensive influencers?
We took the question to …