Influencer Marketing
Influencer marketing has risen as social media has become a more integrated part of our lives. People are seeking guidance and recommendations on shopping decisions from their favourite Instagram stars, Twitter celebrities, and YouTubers. It’s critical to develop an influencer marketing plan to get the most out of every influencer you use.
Millions of consumers trust these influencers, and marketers are paying notice. According to The State of Influencer Marketing 2021 research, 48 percent of respondents executed influencer campaigns, with interest in using influencers on TikTok increasing 325 percent in only one year.
Through interesting content and engagement, social media has offered ordinary individuals the ability to develop their own brands. Traditional celebrities are less relatable than these new influencers. After all, social media platforms are used in some form or another by governments all over the world. And, as more people join social media networks every day, businesses have learned that these platforms can be used for marketing.
Influencer Marketing Statistics
The popularity of influencer marketing has only grown, which means that a lot of study has been done, resulting in some fascinating figures. So let’s look at some of the most shocking findings from these studies. Here are 20 figures about influencer marketing that will astound you.
1. Influencers are trusted by 70% of teenagers more than traditional celebrities.
Brands find it difficult to gain the same degree of trust as influencers, but thanks to influencer marketing, that trust can be transferred to your company. So much so that four out of ten Millennial followers believe their favourite influencer knows them better than their peers. Another advantage of influencer marketing is that brands may avoid wasting resources on self-promotion by having influencers speak on their behalf and communicate the message they want people to hear and trust.
2. 86%of women seek purchasing advice on social media.
This figure should be crucial to any company that has women as a main target audience or as part of their ideal customer list. It appears that if you want to reach more women and persuade them to purchase your product or service, you must be active on social media and aware of the influencers they follow. This trend is expected to continue, as 78 percent of women use social media, with Snapchat and Instagram being the most popular. When it comes to influencer marketing, more than half of women have made purchases as a result of what they saw on social media. Being honest and motivating is the key to engaging this demographic through influencers.
3. Recommendations from influencers are relied upon by 49% of consumers.
This figure indicates the growing significance of social media influencers in helping marketers connect with their target consumers. Not only do 49% of buyers rely on influencer recommendations, but 40% have made a purchase after seeing something on Twitter, YouTube, or Instagram. Consumers are more inclined to make a buy if they believe an influencer’s advice. Influencers’ trust can be used to benefit brands.
4. To cultivate influencers, TikTok has established a $1 billion Creator Funds.
The TikTok Creator Fund was established in 2020 to support creators who want to make a life off of TikTok by using their unique voice and creativity. This fund is a prize for TikTokers who provide joy to huge audiences and requires producers to have up to 100,000 video views in a month to be eligible. The fund began with $200k and is intended to expand to $1 billion in the United States over the next three years. Their goal is to create a force of influencers that can support themselves through brand partnerships, sponsorships, and representation deals. Chef Matt Broussard, ‘Kombucha girl’ Brittany Tomlinson, and prankster David Dobrik were among the first recipients of the fund.
5. Influencer marketing campaigns earn $5.78 for every dollar spent.
According to the State of Influencer Marketing 2020, 66 percent of marketers intend to boost their influencer marketing budgets, and this sector of marketing is quickly overtaking organic search, sponsored search, and email marketing as the fastest-growing channel for businesses. Furthermore, businesses profit $5.78 for every dollar spent on influencers, with some earning up to $18. That’s a substantial return on investment, which you can calculate using a social media calculator. Instagram and Twitter are the most successful influencer outlets, according to experts.
6. Influencer marketing aids in the acquisition of better customers for brands
Building relationships with influencers who resonate with your business and creating campaigns that are aligned with the ideals of an influencer’s followers is more crucial than ever. Furthermore, 51% of marketers believe that influencer marketing helps them get better clients.
7. 57% of Fashion and Beauty Companies Engage in Influencer Marketing
Because organic growth for firms has grown increasingly difficult without advertising and amplification, the fashion and beauty sectors rely significantly on influencer marketing. In this industry, 57 percent of businesses presently employ influencers as part of their marketing mix, with another 21% planning to do so in the following year. Many firms are now leveraging influencers to tremendous success, such as Tropicana’s @foreveryoursbetty, Tess Daly’s Benefit offers, and boohoo’s hundreds of thousands of Instagram followers. While many fashion and beauty firms want to use influencers, they want to make sure that the ones they hire are socially conscious in order to be successful.
8. Major Brands Plan to Increase Spend on Influencer Marketing
Influencer marketing is becoming more and more popular as brands and marketers recognise the great effects it can create. This has resulted in an increase in spending, with 71% of marketers aiming to boost their budgets in the coming year, with the majority choosing to work with micro-influencers. Not only is spending increasing to help raise brand awareness, reach new audiences, and promote brand advocacy, but it’s also quickly becoming a key channel, with many marketers establishing campaign KPIs to track success.
9. The Influencer Marketing Industry is Expected to Hit $13.8bn by 2022
Over the last two years, the influencer marketing sector has grown at a breakneck pace. The industry, which was worth $1.7 billion in 2016, is expected to expand to $13.8 billion by 2022 as it experiences greater growth and becomes a more effective marketplace. Because of this expansion, marketers will need to evolve influencer marketing tactics in terms of how campaigns are monitored, create analytics to scale campaigns, and consider how to manage relationships between brands and influencers.
10. 82% of People Trust Social Networks to Guide Purchasing Decisions
Over three-quarters of customers trust comments they encounter on social media, such as those from friends, relatives, and influencers, to help them make the best purchase decision. By catering to Gen Z and Millennials, marketers in the promotion of products (paid or not) will be able to reach new audiences and impact crucial cohorts.
11. Social Media Marketing Has Surpassed Print Marketing
What this means is that brands are changing the way they spend their marketing expenditures. Influencer marketing is displacing expensive and ineffective ad buys like those seen in newspapers and magazines. Social media marketing is now outperforming every other traditional channel in terms of return on investment.
12. 42% of Customers Use Ad-Blocking Technology
Traditional advertisements are being removed from the online experience by an increasing number of people. Ad-blocking is used by 37 percent of laptop users and 15 percent of mobile users in the United States, as people are tired of being bombarded with pop-ups and banners. Influencers, on the other hand, are now filling the void. People aren’t blocking videos from their favourite social media stars; in fact, they’re devouring everything they say. The power of advertising is shifting from corporations to individuals and influencers.
13. Marketers Spend up to $100,000-$500,000 on Influencer Marketing Campaigns
Spending on influencers has risen in recent years, and it will continue to rise. Influencer marketing costs are increasing, with 19 percent of marketers planning to spend an average of $1,000-$10,000, and 18 percent planning to spend $100,000 to $500,000 on complex initiatives.
14. 41% of Twitter Users Intended to Purchase Based on a Tweet
It appears that Twitter influencers do, in fact, have the potential to affect followers’ shopping decisions. Influencers are now rivalling friends in terms of generating trust on Twitter, with 61% of users following a creator resulting in a 61% boost in brand favorability and a 64% increase in recommendation intent. Engaging in influencer marketing initiatives has the potential to increase sales of goods and services, and newsjacking on Twitter is another option to consider.
15. Couples are changing influencer marketing
Couples are becoming a new breed of effective influencers on social media. Many people are using their status to develop a brand by leveraging their relationship. One of the key drivers is reality television, with contestants on shows like “Love Island” and “Strictly Come Dancing” becoming celebrities who may influence an audience. Joe Sugg and Dianne Buswell, or Tommy Fury and Molly-Mae Hague, come to mind. The former Duke and Duchess of Sussex (also known as Harry and Meghan) use their star power on Instagram to great success, with over 10 million followers.
16. Facebook is the Most Influential Social Media Network
Facebook is one of the most prominent social media platforms, with 2.89 billion monthly users worldwide and 52 percent of shopping decisions impacted by the platform. Other social media platforms are catching up to Facebook, but the social media behemoth is holding its own, especially now that it owns Instagram and WhatsApp. To extend your Facebook reach, it’s critical to keep active on Facebook and communicate with influencers.
17. YouTube is Hot on Facebook’s Heels
While Facebook is the alpha dog, YouTube is nipping at its heels, especially when it comes to turning influencers into millionaires. The internet has turned ordinary individuals into celebrities and influencers (think PewDiePie and Ryan’s World), and celebrity is available to people of all ages and demographics. YouTube has something for everyone, and marketers are noticing by investing more in influencer marketing on the platform.
18. 60% of Consumers Have Been Influenced by Social Media or a Blog While Shopping at a Store
The meaning of comparison shopping has changed as a result of this. According to study, only 3% of people would consider purchasing a product in-store if it was advertised by a celebrity, versus 60% for an influencer. Not only is the influence larger, but more than half of buyers use their mobile devices to consult blogs and social media prior to purchase, emphasising the necessity of quickly accessible information and postings (social and blogs) to disclose a product’s reputation.
19. Purchase Intent Increased by 5.2x by Influencers on Twitter
Discovering which social media networks are best for promoting your business and where your target audience may be located is a part of influencer marketing research. According to Twitter, when users were exposed to brand and influencer tweets, their buy intent increased by 5.2x, compared to 2.7x when they were only given brand tweets.
20. 71% of Marketers Believe Influencer Partnerships are Good for Business
Influencer marketing programmes should not be viewed as one-time event. They are a valuable continuous approach in a marketer’s toolset, with nearly three-quarters of marketing experts citing them as excellent for business in a Mediakix survey. If you can form a long-term relationship with them and turn them into brand ambassadors, the message they convey will appear more trustworthy rather than promotional. If you’re perceived as trustworthy by an influencer, it helps to improve your brand’s credibility.