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Just a decade ago, if people were asked about social media, no one would be bothered to think about it. Yet, today we stand in an era where social media is as large as it could be. It is almost like an unspoken rule that today’s business marketing revolves heavily around social media and social media influencers. With more and more people hopping onto the social media bandwagon, many users with a large number of followers have the power to create and spread awareness.
Thus, brands have effectively collaborated with said ”influencers” to promote their products and services for the past few years.
However, as big as it is, many companies are still reluctant to utilize this tool as a marketing strategy, as they do not understand its scope. Therefore, the question is, does it actually work?
Truth said, there have been more than enough successful campaigns where marketers could reach their target goals with influencers. Therefore, today, we will be discussing a few influencer marketing stats that will help you build your strategy this year.
About Influencer Marketing
Before beginning with the actual matter, let us first brush up on our concept of influencer marketing. On a fundamental level, influence marketing is a marketing tool where product mentions and endorsements are offered to individuals with a solid social media presence (massive number of followers) who adhere to a specific category (lifestyle, sports, food, etc.).
The reason why social media influencers have the influence they have is because of their dedicated followers. Earlier, such status was only reserved for celebrities. However, in current times, as more and more people join social media, create and upload content, the number of influencers keeps rising.
However, some of the influencer marketing strategies do not work well for brands because they are not effective but are not well planned. Therefore, with the contents of this article, you can plan a well-made strategy to make sure that your influencer marketing strategy works well.
2021 Influencer Marketing Statistics
Without further distractions, let us now take a look at the top influencer marketing statistics for 2021.
93% Of Marketers Utilize Influencer Marketing
Let us begin with statistics that support the fact that influencer marketing is an increasingly popular marketing tool that many marketers prefer. According to Social Publi (2019), 93% of marketers use influencer marketing, with more than half using them regularly. Of this number, a quarter uses them frequently, while one-third of it has them as a part of their ongoing strategy. Though this market is still maturing, the rate at which it is being utilized only promises a better future for this market.
Every 9 Out Of 10 Marketers Believe Influence Marketing To Be Effective
As per the Influencer Market Hub (2018), 9 have strong beliefs for the influencer market and its effectiveness out of every ten marketers. It is substantially so as influencers have proven better audience engagement for content than what is published by the brands themselves. The average user engagement in the case of influencers is about 5.7%, which, compared to that of brands on Instagram, is almost two times more. It is easy to understand why, as influencers have direct contact with their audience. With every product or service that they promote, they also share personal stories, which is more reliable and relatable for most of the audience.
Audience Impact and Perception
Influencer Marketing has captured attention across age demographics. These stats show the impact and influence exerted on the audience:
- 92% of consumers from various markets are more inclined to believe people who are in their circles. Influencers are a part of that circle.
- 70 percent of teens trust influencers more than celebrities and 6 out of 10 teens follow their advice.
- 22 percent of 18 to 34-year-olds made a lot of purchases after watching an influencer endorsing the product.
- 25% of internet users are using Ad-Blocking technology to avoid traditional ads. One of the primary ways to reach these users is therefore Influencer Marketing campaigns.
- 44% of women respondents seeing a product/service in use is the main reason to trust an influencer’s post. While 41% of the men are likely to cite expertise.
Benefits of Influencer Marketing
As a marketer, you don’t want to be a lagger when it comes to the latest marketing trends, especially if it’s something as big and as prominent as Influencer Marketing. Check out some of the big benefits of Influencer Marketing:
- 89% of marketers say ROI (return on investment) from influencer marketing is better than many other marketing channels. (Campaigns earn $6.50 for every dollar spent.)
- 71 percent of marketers believe that partnership with influencers is good for business.
- 82 percent of purchasers would follow a suggestion made by a micro-influencer.
- Influencer marketing is 10x more effective than affiliate marketing in new customer acquisition online.
- 94% of customers are buying new food ingredients by the influence of social media recipes made by influencers.
Spending Patterns & Trends in Influencer Marketing:
- Influencer marketing budgets will increase from 39% in 2018 to 65% in 2019
- $1,000 to $10,000 will be spent on influencer marketing by 19% of marketers this year, whereas 18% will spend $100,000 to $500,000.
- 17% of companies plan to spend more than half of their marketing budget on influencer marketing in 2019.
- Influencer Marketing Industry is expected to reach $10 billion by the year 2020.
- Over the past 3 years, Google searches for “Influencer Marketing” grew by 1,500%.
About the Social Media Channels:
- 40% of YouTube audiences believe that their favorite YouTubers understand them much better than their friends.
- 75 percent of teenagers are aspiring to be YouTube influencers over traditional career paths.
- 13.9% of women get influenced by YouTubers on their regular purchases.
- 67.1% of influencers say that they use Facebook, while 50.8% say that they use Snapchat to promote their content.
- In spite of Instagram being the #1 influencer marketing platform, 19% of consumer purchasing decisions being influenced by Facebook.
Instagram – The Dominant Channel
Influencer marketing is present across all social media channels, however, Instagram is really in a league of its own. The Influencer Marketing phenomenon has truly spread across Instagram in an unprecedented way, hence this social media warrants a category of its own.
- Instagram is the most impactful influencer marketing channel with more than 1 billion users and a rapidly growing network of influencers. Whereas Snapchat is the least preferred channel.
- 60 percent of influencers chose Instagram as the most effective social platform to engage their target audience.
- Instagram posts are the first and Instagram stories are the second most used formats in influencer marketing.
- Out of all active Instagram accounts having >15,000 followers, 39% are influencers.
- 93 percent of influencer marketing campaigns are using Instagram.
- 69% of marketers plan to spend the most money on Instagram for influencer marketing in 2019.
- 67% of marketers are promoting their content with the help of influencers.
- 41.6% of respondents say that a product launching gets highly benefitted by the influencers’ involvement.
- 4 in 5 Instagram sponsored content is posted by women influencers.
- 94% of marketers believe ‘Authenticity & Transparency‘ are keys to success in influencer marketing.
- 49% of people said brand created ads are annoying, whereas 82% are very likely to follow the influencer recommendations.
- According to an Influence.co study, 45 percent of influencers receive nearly 4 proposals for campaigns per month.
- 53% of micro-influencers said that they have never used paid promotions for their content.