7 Statistics you Need to Know About Influencer Marketing
With its second month coming to a close, it’s time to look ahead to the marketing trends set to dominate 2019. Influencer marketing isn’t a new trend by any means, but it is set to pick up this year and beyond in a big way. Whether your brand is considering breaking into or sticking with influencer marketing, find below seven major statistics to keep in mind.
Set to Make Billions
As influencer marketing further carves its niche, the means of compensation within the space are evolving as well. Between influencer/brand deliverables, execution, and ROI, influencer marketing is set to become a $10 billion entity by 2020.
Authenticity is Key
94% of marketers believe the authenticity and candor behind influencers is key to their marketability. This in mind, it’s crucial to pick your influencer based not only on popularity, but judging brand relevancy, target audience, and aesthetic as well.
Influencers are Everywhere
These days, for every influencer there are a dozen “micro-influencers” (individuals with a follower count lower than 100k). Studies show 39% of Instagram users with more than 15K followers are considered influencers. If you have less funding to allocate to influencer marketing, consider their micro counterpart.
Beware the Bots
Studies find that 42% of marketers fear the interference of bots. This could be because In-the-know marketers realize that some influencers employ bots and fake followers in an effort to inflate their online presence. It’s an unavoidable trend to look out for as the influencer space expands.
The Market is Impressionable
As with any marketing sector, influencer marketing is only as good as it’s deliverables. In a finding that sports positive and negative indications, 22% of the younger market has apparently made a purchase after seeing an influencer endorsing the product. This is a testament to the power of online presence, but it also means that the remaining 78% was theoretically unaffected. Whether influencer marketing is right for your brand or not depends on your end goals.
Return on Interest
84% of marketers think ROI (return on interest) will be crucial to influencer marketing’s future. One of the biggest pitfalls of influencer marketing as it stands is the difficulty surrounding results tracking. To prepare for this brands should think seriously about their influencer goals and prepare to research accordingly.
The metrics for influencer marketing differ greatly from its more traditional counterparts. 90% of marketers say engagement is the most common metric to measure influencer marketing. An influencer should strive to create more engagement than a sponsored bit of content. To keep things feeling authentic, it’s important to keep the content eye catching.