How do you find good influencers on a limited budget?

In influencer marketing there is a common belief that if we don’t have a six-figure budget for activating creators, we won’t succeed – that is not true. While we should certainly plan to invest some money in creating an influencer-led social media campaign, it is still possible to achieve your goals on a small, tight budget – so how do you find good influencers without breaking the bank?

1. Micro creators over macro

On a small budget, it will be more cost-effective to work with a group of micro-influencers than with one or two macro-influencers. Smaller creators usually have between 5,000 and 30,000 followers, compared with macro-influencers, who gather audiences of up to a million followers.

There are several reasons why we recommend working with micro-influencers. The motivation behind recommending this strategy goes much further than the fact that it keeps costs down. Activating several less popular creators can help you reach many diverse audiences at the same time. By diversifying spend, we minimise risk in case one of them fails to deliver satisfying results. Besides, it may turn out that it is much more enjoyable to work with promising up-and-coming creators than with veterans of the influencer market. Creators who are still relatively small are often more determined in what they do, and they want to impress the partners they work with and build long-term relationships with them.

2. Engagement rate

Follower count is not a good measure of an influencer’s “status”. Engagement rate is a much better indicator – it shows how the content an influencer publishes actually performs. It reliably illustrates how a micro influencer with a high engagement rate can often be more effective than a macro creator surrounded by a correspondingly larger community. A rate of 2 to 3% is already considered a good result, but a high rate often exceeds 6% – then you can be sure the content will genuinely reach potential audiences.

Looking at engagement rates also helps unmask fake influencers who have bought followers (they usually have very low engagement rates) and lets you pick the ones worth investing in. Genuine creators surrounded by loyal audiences are the key to the effectiveness of the whole influencer marketing effort.

3. The perfect match

When engaging creators, it is worth making sure they are genuinely aligned with the brand and its image. There are several ways to do this, the simplest being to find influencers who are already customers. Because they have had the chance to come to like the product organically, they will create authentic content and will be more willing to become ambassadors for a brand they have got to know and tested privately. Always make sure to verify whether the influencer truly fits the brand’s DNA and embodies its values.

4. Target audience

Once you have found the ideal micro-influencer with a high engagement rate and a strong brand fit, you need to focus on the potential audience. The steps taken so far will not matter if the influencer’s followers are not in the right target group – the one the brand prefers.

A good solution is to use specialist analytics tools or to ask the influencer for statistical data about their profile. Above all, ask them for a breakdown of their followers, from gender and location to age. This is the simplest and fastest way to verify. Contrary to appearances, it is not that hard to drift away from your target customer base – especially when personal admiration for a glamorous creator’s lifestyle takes over from the vision of a fruitful long-term collaboration built around a sea of audiences and content that holds their attention.