The idea of influencer marketing isn’t new—in fact, it existed long before social media came to reign. Brands began leveraging this concept by crafting campaigns with relatable characters to evoke consumer sympathy a long time before influencer marketing as we know it existed. However, the concept took a new swing once the digital era introduced a bunch of new opportunities.
Influencer marketing is defined as a new form of marketing that takes the idea of celebrity endorsements and then transforms it into a content-driven marketing campaign that leverages new techniques and works across new platforms.
In simple terms, an influencer is someone who has a certain number of fans and followers that they actively engage with. An influencer establishes a relationship with their audience, thereby affecting their purchase decisions. This could be a blogger, a sports personality, an Instagram star, a YouTuber, or a full-fledged celebrity.
Relatable and accessible, influencers leverage the popularity of social media to establish themselves as trusted ambassadors for their favorite products and help brands get their message across.
At its very basic form, a social influencer is a person of influence who has built a reputation through social media channels for their expertise on a particular topic. These social media personalities post regularly and generate a large following of engaged people. Their content is aimed to entertain, inform, and inspire, which in turn drives more engagement and sets new trends among audiences.
A survey by Influencer Marketing Hub showed that 28% of companies consider influencer marketing to be the fastest-growing online customer-acquisition channel, leaving organic search, paid search, and email marketing behind. Only 3% of the surveyed companies rated affiliate marketing as their fastest-growing channel.
If you’ve been wondering, Is influencer marketing effective? let us assure you that word-of-mouth from influencers carries weight. Influencer marketing brings impressive returns. Savvy business owners who understand how influencer marketing works can team up with the right influencer for their brand and earn up to $18 in media value for every $1 invested in influencer marketing.
Interest in influencer marketing is growing at a rapid pace. Marketers worldwide have adopted this trend and are ready to invest more in the future. Only 5% of the respondents would decrease their influencer marketing spend, while 17% will maintain the same budget. What’s more, 11% of marketers plan to apportion over 40% of their marketing budget to influencer marketing, while 12% would allocate 30–40% of said budget.
Since influencer marketing was propelled into the mainstream, we’ve witnessed many brands get fined for not complying with FTC guidelines on social media endorsements. However, it seems that brands are becoming more and more aware of the FTC regulations. This is a significant improvement since last year, when only 55% of them were aware of these regulations. On the other hand, only 11% of influencers were meeting all the requirements set by the FTC, according to the Influencer Marketing Hub study.
With the increased popularity of social media networks, the internet became the most significant source of mass media consumers have access to. Almost every marketer uses Instagram, YouTube, and Facebook to present their target audience with diverse content in different forms of media.
We can all agree that influencer marketing has changed the advertising industry. Every webmaster wants to learn why it’s so important to build up relationships with their niche influencers, how the whole thing works, and what the benefits are. As a result, Google searches for the term “influencer marketing” spiked. According to the influencer marketing research conducted by Influencer Marketing Hub, there was an increase of 325% in searches for “influencer marketing” in 2017, and only a year later the number rose by 1,500%.
An Influence.co study found that 44% of influencers get less than a quarter of the proposals and only 24% accept more than half of the offers they receive. Influencer marketing stats like these show that not only do you need to find influencers who are relevant to your brand, but you also need to pitch an offer that will add value to them.
As marketers started recognizing the potential of influencer marketing, they tend to increase their influencer marketing budget. As a result, the industry is proliferating. Estimations indicate that influencer marketing—an industry evaluated to be worth $1.7 billion and $3 billion in 2016 and 2017, respectively—will become a $5–$10 billion industry by 2020.
Influencer content dethroned brand-created content. In fact, 49% of consumers have reported they find brand-created ads “annoying or irrelevant.” On the other hand, influencer marketing statistics indicate that 82% of consumers are likely to follow an influencer recommendation, and 67% of them didn’t have a negative comment about sponsored influencer content.
What brands value most in terms of collaborating with an influencer is the impact they have on their audience. For 31% of the respondents, user-generated content is the most valued outcome of an influencer campaign, while 23% of the respondents love influencer marketing because influencers distribute brand-related content to their audience.
Managing an influencer marketing program is a time-consuming thing to do. Many marketers already have busy schedules, so they prefer to partner up with a managed service to run their influencer marketing. According to the study, 18% trust their agencies to deal with this type of campaign. Additionally, 19% manage influencer programs in-house, 14% use a mixed approach, and 7% use a self-service platform.
Nearly 80% of the pitches bloggers receive come from an agency or network representative. However, the majority of bloggers prefer being able to establish direct communication with the brand.
A study on the state of influencer marketing conducted by Tapinfluence and Altimeter revealed that 67.6% of marketers struggle with finding influencers relevant to their brand and cause.
Adored by the millennials, Instagram became an indisputable powerhouse social media network. The platform reached 1 billion monthly users in June 2018. Today, 95 million photos and videos are shared on Instagram every day. Moreover, users upload 400 million Stories and hit the heart-shaped button to like 4.2 billion posts every day. Impressive!
Instagram is undoubtedly the most important social media network in the influencer marketing industry. The social media giant is the channel influencers use to shape cultural trends, reach a broader audience, and sell products. Next on the list of the most important social media channels come YouTube and Facebook, which are the most critical channels for 70% and 45% of marketers, respectively.
The majority of active influencers on Instagram are micro-influencers. Over 558,000 influencers have more than 15,000 Instagram followers.
This is twice the share of YouTube and Facebook. Influencer marketing on the most popular social media platform noted a massive jump of 198% in 2017, and ever since, it continues to grow.
Being an Instagram influencer is a lucrative job. The most established celebrities make a vast amount of money. Kylie Jenner is the highest-paid star. She has the most lucrative celebrity endorsements on Instagram and reportedly makes up to $1 million per paid post. Selena Gomez and Cristiano Ronaldo made $800,000 and $750000 per paid post, respectively.
Instagram is the modern-day portfolio for models. Today’s generation of social media savvy models own the influencer industry, attracting a large audience and high engagement. The older Jenner sister, Kendall, is the most followed model on Instagram with 107.3 million followers.
Instagram, which now has more than 1 billion active monthly users, has developed a thriving influencer community that continues to expand. Despite the platform’s share of challenges in the form of fake followers and other fraudulent activities, it continually develops new features that enable the rapid growth and innovation of social media influencer marketing. Projections are that the Instagram influencer industry will grow to $2.3 billion by 2020.
Instagram posts drive 84 times higher engagement rates than tweets. However, with both Instagram and Twitter, influencers with fewer followers can build a higher engagement rate than those with a larger base of followers. Furthermore, those with less than 1000 followers have five times higher engagement rates compared to those with over 100000 followers.
That Instagram Stories is the most-used tactic for sponsored campaigns is among the well-known digital marketing facts. In 2018, 400 million people viewed Stories on a daily basis, meaning this feature is more engaging and provides influencers with the opportunity to connect with their followers in a more authentic way. Story highlights with 26%, polls with 15.9%, and Instagram Swipe-up with 15.3% are also among the most-used methods for sponsored campaigns.
Women have been ruling the influencer game for quite some time. In fact, more than four-fifths of sponsored content is posted by females. However, in terms of influencer marketing stats like these, men are catching up: there are approximately 100000 male influencers up for grabs.
Influencers are great for brands that try to tap the younger adult demographics. Adults that fall within the 18–34-year-old range are more likely to be influenced by online influencers. 22% of them have made a large purchase after seeing a sponsored post by an influencer.
Millennials are known for their distrust of TV and traditional media. They don’t care about mainstream celebrities; instead, they turn to their favorite YouTube stars to inform their choices. A study showed that 63% of respondents aged 13–24 would try a brand or a product recommended by a YouTuber. On the other hand, only 48% felt the same about a TV or movie star.
Building relationships is at the core of influencer marketing. Authentic and relatable, social media stars are millennial icons, enjoying unprecedented trust and attention.
The previously mentioned authenticity brings a more engaged audience to YouTube. These kinds of influencer marketing statistics show that brands looking to increase their organic reach should prioritize utilizing the engagement rates behind YouTube influencers. Not only do YouTubers receive three times the video views of traditional celebrities, but they also get 12 times as many comments and twice as many actions.
Youtubers with 1–3 million subscribers make on average $125000 per video, while those with 3–7 million subscribers earn $190,000 on average.
Micro-influencers have dedicated niche audiences that are highly interested in the content they post. This audience is more engaged compared to the audience of celebrity influencers and thus more likely to act on their recommendations.
The value of a digital influencer recommendation is undeniable. The majority of consumers would follow a suggestion made by a micro-influencer. For comparison, 73% of consumers are likely to act on a recommendation from an average person.
Micro-influencers provide an authentic voice, which the audience trusts more. They keep a close relationship with their follower base and make their recommendations feel like they’re coming from a friend, which is seldom the case with macro-influencers.
Influencer marketing statistics show that the majority of micro-influencers, 96% to be more precise, charge up to $1000 per post. 87% of micro-influencers take up to $500 with 84% of them charging $250 or less per sponsored post.
Social media is a huge part of an influencer’s work day. According to the survey, 47.4% of influencers spend over 5 hours a day on social networks, while 32.5% spend 3–5 hours. The majority of them creates content daily, while nearly half of them post on social media at least twice a day.
Influencers who work in visual niches like fashion are even more keen on Instagram. To compare influencer marketing statistics, only 31% of entertainment and pop culture micro-influencers prefer Instagram.
Micro-influencers spend a considerable amount of time on social media. They use this time to develop content, post, engage with their fans, and build their following. Almost half of the surveyed micro-influencers said they spend over five hours on social media every day. Furthermore, 33% said they spend 3–5 hours on their social accounts.
With consumers spending nearly half a day on social media, brands have come to leverage influencers to affect purchase decisions. This trend has proved to be more effective than traditional marketing as consumers are more receptive to messages delivered by a personality they can relate to and trust, rather than a celebrity or a famous TV face.
Influencers will become even more valuable in 2019 and beyond, and influencer marketing will continue to thrive in all areas. If you still haven’t adopted influencer marketing, you need to understand its significance and the benefits it offers—which is why we’ve helped by providing this comprehensive list of influencer marketing statistics.