- Micro influencers have fewer than 100,000 followers on a given social media platform.
- We want to hear from you on the top brands these creators should work with.
Despite the economic downturn, influencer marketing is booming — it's expected to become a $5 billion industry by the end of this year, according to an August survey by Insider Intelligence.
Companies have increased their marketing budgets to 9.5% of their total revenue this year, compared to 6.4% in 2021, according to a May survey by Gartner. And for some brands, this increased budget means more dollars to invest in the creator economy.
While some companies still choose to work with influencers who have millions of followers, indicating a much wider reach, a number of brands are now seeing the benefits of working with micro influencers, or influencers with between 10,000 and 100,000 followers, according to a report released earlier this year by the influencer-marketing agency HypeAuditor.
One reason why micro influencers appeal to brands is because of the lower cost, according to experts like Emily Fonda, co-founder of talent management firm The Sociable Society.
"They will want to work with cheaper creators to belt out that cost per acquisition, rather than throwing all of their budget into one big celebrity," Fonda previously told Insider.
Micro influencers also have a very high engagement rate compared to other types of influencers. Last year, data analysis website Marketing Charts reported that micro influencers had the highest post-engagement rates of all influencer types on Instagram (3.86%), YouTube (1.63%), and TikTok (17.96%).
Due to these factors and more, some brands, such as Coca-Cola and Sephora, have even established robust micro influencer programs, because they see the value of working with these kinds of creators.
We are seeking nominations from readers — especially influencers, marketing agencies, and creator economy experts— on the best brands for micro influencers to work with based on pay, availability for work, and overall experience, among other factors.
The list of top brands will be determined by Insider based on a mix of our reporting and the nominations that we receive.
Please submit your nominations through this form by September 21, 2022 or below: