Influencer Marketing has been one of the biggest trends in the world of digital marketing over the past few years. But with all things business, there is one important question to ask: How big exactly?
This will help you deeply grasp the current state of the industry, how it compares to other marketing methods in terms of RoI and you’ll understand the various trends that show how the future will shape up.
Time to dive right in!
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.