In just two years, influencer marketing has quadrupled in size and this exponential growth does not appear to be slowing down any time soon. This is why this once novel and promising marketing tactic is now considered an essential pillar of many marketing budgets, regardless of the type of brand or industry.
Brands have started to realise that you don’t necessarily have to keep to just one type of influencer. For example, if you’re in the food industry, you don’t necessarily have to stick to just “foodie” influencers.
This has opened up even more doors for micro influencers, bloggers and acknowledged experts to partner with enterprises and engage their audiences. But don’t just take our word for it, here are the facts:
A report presented by Leverage Marketing found that over 47% of customers are using ad-blocking technology online, while 74% trusted social networks to guide their purchase decisions instead.
This is a strong indication that traditional online marketing methods are waning when it comes to effectively enticing clicks and ultimately purchases from fickle consumers.
A poll taken by Infolinks clarified that at least half of internet users will never click on an online ad, while 35% click on less than five a month! What is alarming in this regard is the amount of budget still being segmented by marketers to pursue this form of online marketing, when there has clearly been such a marked dip in any return on investment.
The Collective Bias Marketing Survey reveals that 70% of millennial consumers are influenced by the recommendations of their peers before making a purchasing decision. While over 30% are more likely to buy a product recommended by a non-celebrity blogger.
An exciting prospect for marketers who don’t necessarily want to spend exorbitant budgets to partner with established celebrities in complicated endorsement deals.
Experticity (a renowned influencer platform) has noted that 82% of online consumers are highly likely to follow a recommendation made by a micro influencer that they follow and admire. This could be a local mommy blogger or even a thought leader in a certain niche community.
Finding these micro influencers and making them brand ambassadors offers incredible returns on investment and lower overheads than many other types of endorsement marketing.
According to Google Trends, influencer marketing surpassed print marketing as a primary channel in 2016. It’s also currently the fastest-growing online customer acquisition channel – beating organic search, paid search and email marketing. In 2018, almost 87% of marketers have segmented budget just to pursue this type of marketing in all its new shapes and sizes.
This is particularly pertinent as social media channels have risen as the primary form of communication between brands and their consumers. Whether it’s to research a product, submit praise or a complaint, or even to provide feedback on a campaign, audiences tend to turn to social media first for these interactions.
A study by Schlesinger Associates shows that 67% of marketing and communications professionals engage with influencers for content promotion. Particularly ahead of a product launch, for event management, to aid with corporate communications, assist SEO and even support with crisis management.
This type of marketing is now underpinning both traditional and cutting-edge marketing efforts and should not be ignored by any industry that engages in B2C communications.
A Bloglovin’ Survey also revealed that 77% of fashion micro influencers prefer Instagram’s visual appeal for getting a message across and its much higher engagement rates. Particularly when compared to Twitter and Facebook.
As one of the most powerful and prolific industries in the world, this is a testament to the true value of using influencers on this type of platform. This is true regardless of your type of industry, where Instagram models can promote all manner of products from health to automotive.
There you have it, influencer marketing is on the rise all around the world and consumers are gravitating towards it en masse. However, the trick is still finding the right influencers for your particular brand and audience. Many marketers agree that top talent and social media superstars are not always the best option to pursue.
Micro-influencers, with less reach but greater relevance, are getting far better results for brands. Finding the right mix can be the secret to unlocking a greater return on investment through higher conversion and engagement rates. Happy hunting!
Do you have any lingering questions about this emerging type of marketing? Perhaps you’re an influencer yourself? Don’t hesitate to leave your thoughts or questions in the comments.