Tips for executing influencer marketing on a tight budget

When planning your influencer campaign, remember that there are different types of influencers and compensation.

Payment can come in the form of a cash fee, or goods, services or cross-promotion. To reduce costs, you can work with lesser-known influencers rather than online celebrities.

Micro-influencers—those with 1,000 to 10,000 followers—are more likely to collaborate in exchange for products or promotion than major social stars who already have hundreds of thousands of followers and won’t rush to work on campaigns that don’t provide a fee.

However, working with micro-influencers doesn’t mean micro results. The smaller names actually achieve dramatically higher engagement rates on their posts than actual celebrities and big-time influencers, averaging almost 11 percent engagement per post. In comparison, those with 50,000 followers or higher tend to get no more than 2.6 percent engagement on their updates.