Incredible Facts About Influencer Marketing
1. 70% of teens trust influencers more than traditional celebrities
2. Influencer Marketing is more profitable than Print Marketing
3. Influencer Marketing gives 600% return on every spent £ 1
The return on influencer marketing activities is estimated to be £ 6 for every £ 1 spent, in some cases it has been reported to be as high as £ 20 or more. Over 50% of all marketers believe that the customers who are reached through influencer marketing activities are of better quality.
They spend more money, which leads to higher average order values while happy to share their experiences about the product or service, which leads to new waves of new customers.
Influencer Marketing is considered to be the fastest growing method for reaching new customers and as many as 59% of companies will increase their budget in the coming years. The method now beats paid search, email marketing and organic search and is considered by 22% of all marketers to be the most cost-effective method of reaching new customers along with email marketing.
Looking at the most successful influencer marketing platform, we find blogs at the top. It is clear that consumers like to read on before proceeding with their purchase. If we switch to social media, 25% of marketers prefer Facebook over Youtube, Instagram, Twitter and Pinterest.
4. Influencer Marketing is worth £ 7.5 billion in 2020
Although influencer marketing by this time already has a couple of years on the neck, it is only in recent years that we have seen a great growth spurt. Thanks to the popularity of social media, influencers have greater reach. Established and new companies are looking to harness the power of social media through various platforms and devices.
Compare search volumes today with three years ago and you will see a threefold increase, while at the end of 2017 to 2018 we saw a five-fold growth rate.
At that rate, it is little surprise that the industry is predicted to be worth £ 7.5 billion by 2020. Ad blockers have become an increasing concern for pop-up ads and traditional display advertising and a large portion of the population is spending more time scrolling through social media on mobile than watching TV and reading magazines.
5. 86% of women use social media for advice
Research shows that women are more likely to do research before a potential purchase. Many turn to friends and family, but as many as 86% use social media to help them make the right decision.
Social media is more easily accessible than ever before and more and more women are active, which has also been facilitated by the rise of smartphone users where as much as 83% believe that the mobile phone helps them get things done.
However, the women who participated in the survey emphasized that they also have confidence in their own ability to make decisions and that the majority felt they could distinguish reliable and unreliable information over the Internet. Thus, the chances are greater that they take advice and listen to an authority with which they have a relationship.
Although the fashion and beauty industry is not entirely limited to a female audience, it is a niche that relies deeply on influencer marketing, as many as 57% use it as part of its marketing strategy. Traditionally, it has been a forum for women to seek inspiration and advice. Instead of asking for a friend’s recommendation, women are instead looking to their favorite influencers for advice on which product to choose.
The growth of the internet has led brands to broaden their spectrum of marketing strategies. Consumers, in turn, have become more aware of the sales process while having more choices than ever. The result of this has been that companies have had to work hard to build relationships with potential consumers through content, email and later by developing an influencer marketing strategy.