You have probably heard of at least one or two social media influencers, right? Michelle Phan, PewDiePie, Shonduras, Cara Delevingne, Ryan Higa, Zach King... ringing any bells? What about microinfluencers?

Microinfluencers are, in fact, everyday consumers, just like you and me. What makes them different is that they have between 1,000 and 100,000 highly engaged followers.

When compared with PewDiePie's 54 million subscribers, an audience of 1,000 to 100,000 may seem small. But in reality, the smaller reach of microinfluencers often translates into much bigger numbers.

Recent research has found that microinfluencers are able to drive higher levels of engagement and conversions than top influencers. They also don't charge nearly as much as their top-tier counterparts.

Which is why you should consider working with them for your next influencer marketing campaign.

Save money with microinfluencers

The defining characteristic of microinfluencers is their cost-effectiveness. For example, a blogger microinfluencer may charge you somewhere between $175 and $250 for one sponsored blog post. The rate goes up as the number of impressions/followers increases.

And top bloggers, with more than 500,000 monthly impressions, may charge you upwards of $1000 per post. The rate could even go as high as $5000.

Video influencers are generally a bit more expensive, yet the cost-effectiveness is the same. Microinfluencers will charge anywhere between $500 and $1000 for one video promoting or featuring your product.

But top video influencers, with more than 500,000 subscribers, may charge in excess of $3000 for one video.

As for Instagram posts, microinfluencers normally begin their rates from $75 for one post. The rate may differ even for influencers within the same category. But you won't normally spend more than $500 per post in the case of microinfluencers.

Instagram influencers with 500,000+ followers may charge you in excess of $3,000 for a single image post.

For the cost of one top-tier Instagram influencer, you could hire about 10 microinfluencers. Why not build a whole community of microinfluencers to promote your products or services?

These rate differences clearly show how microinfluencers are a much more cost-effective option. In fact, they're perfect for small businesses and startups with a limited marketing budget.

Please keep in mind that any "microinfluencer," (or anyone paid to promote a product or service) must disclose the payment, or risk violating FCC guidelines.

Check out the gifographic below to find out the other benefits of working with microinfluencers. It also covers how to find the right influencers for your campaign, and tips for working with them effectively for maximum ROI.

(Click on the gifographic to enlarge.)

Image courtesy: Shane Barker