The report was based on data from sponsored Instagram influencer campaigns run by 16 recognized brands, such as Nordstrom and Gillette.
The researchers defined micro-influencers as Instagram users with between 10,000 and 100,000 followers and macro-influencers as users with more than 100,000 followers.
Not surprisingly, sponsored posts by macro-influencers generally have a larger reach than those of micro-influencers, and they also receive much more engagement (likes and comments) in absolute terms.
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