Social media has completely changed the way in which brands and businesses market their products. These new digital platforms prioritise authenticity and natural content, putting the end user and customer experience front and centre.
Influencers are the biggest and most popular social media creators. They often have follower counts in the millions and hold enormous sway and authority over their fans. Brand partnerships with influencers are nothing new, they can offer businesses a way to access key demographics in cost-effective and engaging ways.
What are micro-influencers?
While the biggest influencers today are essentially globally recognised celebrities, they are by no means the only kind of influencers out there. Micro-influencers are influencers on a smaller scale, with follower counts in the thousands rather than in the millions.
However, while micro-influencers may not have the same reach as the biggest influencers, they often cater to a select and highly knowledgeable demographic in a particular niche or industry, making them an increasingly attractive partnership option for businesses.
If you are a micro-influencer with a small but growing following, how can you monetise your brand and take your business to the next level? Let’s find out.
Affiliate links
Affiliate marketing is one of the best ways micro-influencers can monetise their brand. First of all, identify the exact niche or industry your content is catered for and then search for affiliate programs within that sector. These programs could be for makeup, tech products, or holidays, there are affiliate programs out there for absolutely everything.
Once you have signed up with a program, you will be given unique links that can be shared with followers to direct them towards products and services. For every purchase made through these links, you will earn a commission.
You don’t need a massive following to make money from affiliate marketing, but your strategy needs to be well-planned and perfectly executed to see the best results.
Brand sponsorships
Huge global brands regularly partner with the biggest social media influencers, Dunkin’ Donuts’ partnership with TikTok star Charli D’Amelio being a prime example.
However, a number of companies are beginning to see the potential there is in working with micro-influencers as well as or even instead of social media’s biggest names.
Micro-influencers often have dedicated followers who are highly knowledgeable about a particular field. Brands that create products within this industry can benefit from sponsoring relevant micro-influencers. They will be able to raise awareness of their business and their products within their target demographic and have access to key customer bases.
Additionally, as a micro-influencer, you will be seen as a trusted authority voice. By giving your backing to a brand, product, or business, you will be legitimising it in the eyes of your followers and giving that business a serious reputational boost.
You may find that businesses come to you when looking to strike a partnership deal, and this will likely happen more as your following grows. You can also use dedicated platforms to find opportunities and connect with companies to monetise your brand.
Subscription platforms
When looking to monetise your micro-influencer business, it’s not all about striking deals with other businesses. In fact, there are ways in which you can profit directly from your followers and the content you create.
By locking some of your content behind a paywall on a subscription service such as Patreon, you can begin generating an income stream from the content you are producing. Users will subscribe and pay a monthly fee to get unlimited access to your content, whether that be videos, audio clips, or blog posts.
However, for this strategy to be a success, your content strategy needs to be perfect. You need to be producing and putting out content of the highest possible quality on a regular basis. Failure to do so will see subscribers leave in droves and could harm your brand image and reputation as your followers will feel you are not giving them good value for their money.
Conclusion
Micro-influencers often fly under the radar, but they are an integral part of the digital ecosystem and are being increasingly recognised by big businesses. Use the advice in this guide to monetise and start profiting from your micro-influencer brand.
If you’re looking for more affiliate and social media marketing insights, take a look at our blog for all the latest news and advice. Or for a more personalised approach, book a free call with a member of our team.
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