5 Lessons For Mega Success With Microinfluencers

How big an impact can influencer marketing have on a brand? How about $24 billion globally in 2024 alone?

Consumers — and young ones, in particular — rely on influencers for both entertainment and information, and businesses of all stripes are leveraging that trust to grow.

For Alliant Credit Union ($20.1B, Chicago, IL), an influencer marketing strategy starts with authenticity and allows the credit union to amplify its message while expanding its reach. Rather than focus on big names, however, Alliant has opted for microinfluencers — lesser-known online personalities who carry a lower price tag yet still have a specific niche and the attention of their audience.

Alliant’s microinfluencer strategy is built around strategic partnerships that enhance audience engagement and expand the credit union’s reach, says Sumeet Grover, chief digital and marketing officer. That means leveraging “authentic, diverse content creation that resonates with a broader member base,” as well as collaborating with those content creators in a way that amplifies the credit union’s voice and fosters trust among potential members.

“This approach addresses the challenge of visibility in a broader market and capitalizes on the opportunity to present our Alliant brand story through genuine, influential voices,” Grover says.

Here, Grover offers tips on how credit unions can make the most of their own influencer strategies —  micro, macro, mega, and anywhere in between.

1. Brand Values Matter

Alliant has worked with influencers at various levels for several years and looks alignment with its brand values — savvy, selfless, and socially responsible — when choosing those partners.

“We rigorously assess potential partners based on the authenticity of their content and their ability to actively engage audiences,” Grover says. “The management of these influencer relationships is handled by our dedicated internal team, ensuring consistent communication and alignment with our strategic objectives.”

2. Find A Partner

Alliant works with partner agencies to optimize its influencer marketing strategies. That’s particularly useful when working with microinfluencers, who aren’t generally widely known. According to Grover, that kind of collaboration helps the credit union better vet parties and ensure they meet brand values and match audience expectations.

“The agency’s support is instrumental in facilitating the selection process and managing campaigns, allowing us to focus on delivering authentic and impactful content to our members,” the digital and marketing officer says.

Grover recommends credit unions starting out on their influencer journey partner with specialized agencies that can help select influencers to represent the institution as well as deal with contracts and assist in determining a creative direction. For those who choose to do the work in-house, there are platforms available that provide access to a wide variety of influencers and also help measure reach and engagement.

“Importantly, the focus should be on crafting a compelling story that enhances the authenticity of your message, making it more likely to resonate with the intended audience and produce meaningful results,” Grover says.

3. Brief Is Better

For credit unions testing out their own microinfluencer strategy, Alliant recommends keeping things brief, with an initial test period of two or three months.

“This period allows us to gauge the effectiveness of the partnership and refine our approach based on initial results,” Grover says. “If these test campaigns prove successful and budget considerations allow, we then consider extending these engagements into longer-term campaigns. Establishing long-term relationships with influencers promotes consistent messaging and builds deeper trust with audiences, leading to sustained engagement and more impactful results.”

Want more on microinfluencer strategies? Read “Like, Share, Comment: How Social Influencers Are Helping SF Fire Build Its Brand.”

4. It’s About The Influencer, Too

Alliant has evolved its strategy based on each collaboration, and Grover notes the credit union has learned co-created content — which allows influencers the flexibility to bring in their own voice and style while still adhering to the brand message — yields far more impactful results.

“This approach fosters authenticity, enhancing the resonance of our campaigns with target audiences,” he says.

Given the success they’ve seen so far, Grover and his team plan to expand influencer marketing initiatives to create deeper, more effective member connections.

“As the landscape evolves, we anticipate increasing our focus on these partnerships, adapting our strategies to leverage the strengths that micro-influencers offer,” Grover says. “This shift is driven by the need to remain dynamic and responsive in our marketing efforts, ensuring that we continue to reach our audiences through authentic and relatable content.”

5. Micro? Macro? Mega? Just Measure.

Grover credits a 2021 partnership with Suze Orman as having kick-started membership growth and the credit union’s influencer journey — member numbers rose nearly 30% between the end of 2021 and the end of 2023. Although that relationship demonstrated the impact influencers can have when they embody brand values and resonate with a target audience, Grover says the same rules apply for lesser-known personalities.

“For our ongoing collaborations with micro-influencers, we conduct test-and-learn campaigns, closely monitoring key performance indicators including digital traffic, new memberships, and ongoing engagement,” he says.