It is no longer a surprise nor a fleeting trend. Influencer marketing is real and it is growing every day. As marketers and brands learn more about it, they have become more savvy. Influencer marketing has changed over the years but it has still become a crucial part of marketing strategies.
Such a huge success mainly comes front the advent of social media. Instagram has over a billion users with half using it every day. Facebook has 2.4 billion monthly active users and 5 billion videos are seen each day on YouTube.
It is true that influencer marketing has been around for a lot of time. Back in the days, brands would sponsor singers, actors and sportspeople. Or, if you found a product you loved, you recommended it to a friend through word of mouth. A friend’s recommendation can be more powerful than a commercial.
Why your business needs influencer marketing
That is why influencer marketing is so powerful. In the end, influencers are normal people who decided to start posting online and earned a following in the process. They are the girl and boy next door who recommend products. They still seem more trustworthy than reality TV stars and others celebs.
People perceive influencers as more genuine than celebs. The former are also much cheaper and produce very good returns on investment. For example, 86% of women prefer to use social media for purchase advice. In 2019, $1 spent on influencer marketing generated $5.78.
Influencer marketing content delivers eleven times higher return on investment than traditional forms of digital marketing. Thus no wonder that since 2016, 86% of marketers have used influencer marketing, and that number isn’t going to come down anytime soon. Indeed, influencer marketing is likely to become a $5 to 10 billion in 2020.
25 game changing influencer marketing statistics
- 6 in 10 teenagers prefer advice from influencers over celebrities.
- Influencer marketing spend will reach $9.7 billion in 2020.
- Influencer marketing has surpassed print marketing, and it has ROI rates 11 times that of online ads.
- Every dollar spent on influencer marketing campaigns makes $5.78.
- 49% of Twitter users have made a purchase as a result of a tweet.
- 86% of women prefer to use social media for purchasing advice.
- 57% of fashion and beauty companies use influencer marketing.
- According to influencer marketing statistics, 78% of social influencers in worldwide brand collaborations used Instagram as their primary social platform.
- 130 million Instagram users click on shopping posts to get more information every month.
- The global spend on influencer marketing will reach $15 billion by 2022.
- 89% of marketers say Instagram is the most significant social network for influencer marketing.
- Instagram was in 93% of all the influencer marketing campaigns carried out in 2018.
- 60% of people claim they find new products on Instagram.
- Almost 75% of Instagram influencers are 18–34 years old.
- The marketing spend on influencers alone reached $1.6 billion on Instagram in 2018.
- Social media influencer marketing earnings can be as high as $5,000 per post based on their web traffic.
- Influencer marketing had returns on investment of $7.65 for every $1 back in 2017.
- Instagram’s most lucrative industry for influencer marketing is travel, with an average of $220 per post.
- It’s predicted that advertisers will spend $2.3 billion on Instagram influencer marketing in 2020.
- 9% of US small businesses use YouTube.
- 60% of consumers have been influenced by social media or a blog while shopping at a store.
- Micro-influencers have seven times more engagement with followers than those with large followings
- 54% of marketers spent over $250,000 on influencer marketing in 2019
- 57% of marketers say influencer content outperforms their own brand content
- Only 34% of marketers manage their influencer campaigns in house
Influencer marketing is here to stay and those statistics are proof of it. Brands can really benefit from giving it a go. If you are a small business and are unsure how to go about using influencer marketing, we offer a full influencer marketing service to help you spread the word about your product, raise brand awareness and generate more revenue!