Table of Contents
What is a Micro-Influencer?
A micro-influencer is someone who has an audience within the follower range of 2,000 up to about 50,000 on a particular social media channel, usually comprised of a focused passion, topic, or niche market. They often recommend products and brands to their audience and receive positive responses because their following often shares similar interests and passions. According to a study led by Collective Bias, 70% of Millennials prefer product endorsements by non-celebrity bloggers aka micro-influencers. They feel like they are more genuine and not biased. In fact, a study by Twitter found that 40% of users made a purchase directly after seeing a tweet from an influencer.
According to the same study by Twitter, 56% of consumers are influenced by their friends when they make purchase decisions. This only shows how word of mouth is one of the most powerful ways when trying to grow your business. Simply getting your name out there through reviews and referrals—utilizing the network of micro-influencers is a vital part of raising money.
Similar to micro-influencers, blockchain projects are often comprised of very specific, often narrow audiences that are deeply interested in very precise topics. Blockchain is a powerful technology that has the potential to positively transform many existing business areas. One major area is Advertising and Marketing, especially Influencer Marketing.
Use of Blockchain in Influencer Marketing
Simple, Safe Payments
Transparency and Immutability of Data
Should I utilize Micro-Influencers to Raise Money?
Yes. Blockchain technology has the ability to save you time and money. According to Business Insider, spending on influencer marketing is projected to reach $10 billion by 2020 and $15 billion by 2022. Instagram, Twitter, YouTube, and other social networks have created these influencers with up to millions of followers. Whatever target your business wants to attract, there will always be an influencer of your choice who can bring in more customers who share the same values as you. As more and more micro-influencers are working with businesses, ROI is increasing when they engage in campaigns.