Influencer Marketing is one of the latest trends of Digital Marketing today. Compared to social media marketing or even video marketing, Influencer Marketing is considered a fairly new branch of marketing. However, more and more businesses are starting to focus on it.
1. How many marketers implement Influencer Marketing?
9 out of 10 marketers are now using Influencer Marketing as part of their overall marketing strategy (SocialPubli, 2019). In particular, more than half of them deploy influencer marketing regularly.
Influencer Marketing is new, but its usage and growth is quite impressive. This is an indication of the effectiveness of Influencer Marketing.
- 27.9% of marketers have been using influencer marketing for more than three years.
- 20.9 percent of marketers have been using it for less than a year.
- And only 7% of marketers have never used it.
2. Effective Influencer Marketing
90% of marketers believe influencer marketing is an effective form of marketing (Influencer Marketing Hub, 2021). This is an impressive number. So it’s not surprising that:
- Three-quarters of marketers say they will allocate their budget exclusively to influencer marketing activities.
- 62% of marketers even plan to increase their spend.
- In the US, influencers and paid content are expected to make up 20% of the advertising budgets of digital marketers and agencies.
3. Influencer Marketing ROI Statistics
Businesses that do influencer marketing to promote earn $18 for every dollar invested (Influencer Marketing Hub, 2018). In other words, every dollar a company spends on influencer marketing generates public value of $18.
This Insightr marketing statistic is truly impressive. Because the average return on total marketing channels is only $5.20. In fact, the majority of marketers believe that Influencer Marketing offers the highest Return on Investment (ROI). It is even higher than SEO, social advertising and SEM.
Determining Influencer Marketing ROI seems to be one of the most challenging aspects marketers face. Because you will need to focus on many issues such as:
- Reach and Display
- Measure metrics like engagement and clicks
- Goals of each business
4. The growth of Influencer Marketing industry
With such a high ROI, it’s no surprise that the influencer marketing industry is thriving.
The current use of social networks in the world shows no signs of slowing down. It has penetrated all aspects of consumers’ daily lives. As a result, analysts are expecting influencers to increasingly take on the role of mediators between brands and consumers. This means that brands will need to step up their influencer marketing efforts to better connect with consumers.
In 2019, the total spending of brands on Influencer Marketing was $8 billion. And in 2020, the investment budget has grown to $15 billion for influencer marketing. It is expected that within the next three years, the cost for this channel will continue to be boosted by 87.5%.
The above strong growth is just proof of the extent of its potential. Using Influencer Marketing to promote your brand is a great idea.
5. Statistics of the most important channels for influencer marketing strategy
There are many social media sites available to start an influencer marketing strategy. So where to start? Please refer to the following 3 channels:
Instagram is by far the most popular influencer marketing platform. Up to 93% of marketers and agency professionals plan to use regular Instagram posts as part of their influencer marketing strategy in 2021 (Linqia, 2021). This is followed by Instagram Stories, which 83% of marketers plan to use.
This is the third most popular channel with 68%. This marks a huge leap from 2020. Of which, 16% of marketers use the platform for influencer marketing. This number is constantly growing strongly.
Facebook is known as the “King of Social Media”. With 60.6% of internet user reach on this platform. Therefore, it is not surprising that you should consider implementing an influencer marketing campaign.
Youtube consistently makes the list of the top platforms that marketers use for influencer marketing.
However, the influencer marketing campaign depends on the location of your target audience. For example, if the majority of your audience is on YouTube, engaging with an Instagram influencer to promote a product may not be effective. Therefore, choosing the right channel for the campaign is very important.