In the world of marketing, influencer marketing has become one of the most popular and effective strategies in recent years. And it’s no surprise why – according to a study by Mediakix, 92% of people say they trust recommendations from friends and family over any other form of advertising.
But what does that mean for your business? If you’re not already using influencers to help promote your brand or product, you’re missing out on a huge opportunity. To help you get started, we’ve put together a list of 25 essential influencer marketing stats that you need to know in 2021.
Influencer Marketing Stats You Need to Know in 2021
Influencer marketing is a hot topic in the marketing world, and for good reason. Influencer marketing can be extremely effective in promoting your brand or product, but only if done correctly. There are a few key influencer marketing stats you need to know in order to make sure your next campaign is successful.
First, it’s important to understand who your target audience is and what type of influencers they follow. Not all influencers are created equal, and you want to make sure you’re selecting ones that will actually appeal to your target consumers. Second, don’t forget that authenticity is key. Consumers can spot inauthenticity from a mile away, so make sure your selected influencers are passionate about your brand or product and genuinely believe in what you’re selling.
Finally, keep an eye on engagement rates. The number of likes and comments an influencer’s posts receive may not seem like the most important metric, but it actually gives you a good indication of how interested their followers are in what they have to say. If an influencer has high engagement rates, it means their followers are more likely to pay attention to any recommendations they make – including those for your products or services.
Keep these three Influencer Marketing Stats in mind when planning your next campaign for the best chance at success!
Top 10 Influencer Marketing Stats from 2020
As we move into a new decade, it’s important to take stock of the previous one and see how things have changed. Influencer marketing is one area that has seen significant growth in recent years, and 2020 was no exception. Here are 10 influencer marketing stats from 2020 that show just how big this industry has become:
1. There were over 15 million active influencers on Instagram in 2020, up from 8 million in 2019 (Hootsuite).
2. The average cost per post for an influencer with 1 million followers is $10,000 (Business Insider).
3. Influencer marketing spend is expected to reach $15 billion by 2022 ( Business Insider).
4. 70% of marketers say they plan to increase their influencer budget in 2021 (eMarketer).
5. 94% of marketers believe that influencer marketing is effective ( Social Media Today).
6. 78% of people say they trust online reviews from strangers as much as personal recommendations ( BrightLocal ).
7. 49% of consumers rely on influencers for product discovery ( McKinsey ).
8. 36% of marketers say they find it difficult to measure ROI from influencer campaigns ( AdWeek ).
9. Only 22% of brands feel they’re successfully measuring the ROI of their influencer campaigns ( eMarketer ).
10 . 92%of consumers trust earned media more than any other form advertising including paid media such as TV commercials or print ads( Nielson)
Why Influencer Marketing is Taking Over Traditional Advertising
As digital marketing evolves, so too does the landscape of traditional advertising. TV commercials, radio ads, and print advertisements are becoming less effective as consumers become more skeptical of marketing messages that are pushed at them from all angles. Instead, they’re turning to social media and other online channels to get their news and make purchase decisions.
One of the most important changes that’s happening is the rise of influencer marketing. Influencer marketing is a form of social media marketing in which brands collaborate with popular social media users to promote their products or services. The advantage of influencer marketing over traditional advertising is that it’s much more authentic and trustworthy. After all, if someone you follow on Instagram recommends a product, you’re far more likely to try it than if you saw the same product advertised on television.
There are plenty of other reasons why influencer marketing is taking over traditional advertising. For one thing, social media platforms like Instagram have made it easier than ever for people to connect with each other and share information about products and services they love. And as people spend more time online, they’re increasingly exposed to influencer content while scrolling through their feed—making it even harder for traditional ads to compete for attention (and clicks).
What’s more, influencer marketing campaigns tend to be much cheaper than major ad campaigns—yet they can still reach a wide audience thanks to platforms with millions of active users (like YouTube and Instagram). Plus, unlike traditional advertising methods like TV commercials or billboards, which can be ignored or easily forgotten about, influencers provide an ongoing relationship with their followers that keeps your brand top-of-mind long after the initial campaign has ended.
All these factors explain why 85% percent of marketers say
How to Use Influencer Marketing to Boost Your Business
It’s no secret that social media has the power to influence. In fact, 92% of consumers trust peer recommendations over advertising when it comes to making purchasing decisions, which is why influencer marketing has become such a popular strategy for businesses in recent years.
But with so many businesses now incorporating influencers into their marketing mix, it can be tough to stand out from the crowd. That’s where understanding influencer marketing statistics comes in handy. By understanding which stats matter most and how they can impact your business, you’ll be able to create more effective campaigns that deliver results.
Here are four essential influencer marketing statistics that every business should know:
1. The average return on investment (ROI) for an influencer campaign is $6.50 for every dollar spent: This stat comes from a study by Tomoson and shows that businesses are seeing real results from their influencer campaigns. Not only that, but this number is up from last year’s ROI of $5.20 for every dollar spent, showing that influencer marketing is becoming even more effective over time.
2. 85% of marketers say they plan to increase or maintain their spending on influencer marketing: This stat from eMarketer shows that Influencer Marketing is here to stay and continues to grow in popularity among marketers.. If you’re not already incorporating Influencers into your marketing strategy, now is the time to start considering it! Especially since… 3. 74% of people say they rely on social media when making purchase decisions: With such a high percentage of people using social media as part of their decision-making process, it’s essential that your business has a presence on these platforms – and utilizing
The Benefits of Influencer Marketing for Brands
Influencer marketing has become one of the most effective ways to reach out to potential customers and create a connection with them. By working with people who have already established themselves as experts in their field, brands can tap into new audiences and create content that is more likely to be seen and shared.
But what are the specific benefits of influencer marketing? Here are some stats that show just how powerful this strategy can be:
1. Influencer-created content gets 10 times more engagement than traditional forms of advertising ( Forbes )
2. 90% of consumers say they trust peer recommendations over traditional advertising ( Nielsen )
3. Brands that work with influencers see a 500% ROI on average ( Mediakix )
4. 70% of Millennial consumers are influenced by social media when making a purchase decision ( McKinsey & Company )
5 . 92% of people say they would take action after reading about a product or service if it was recommended by a friend or family member ( WOMMA ).
The Future of Influencer Marketing
As social media use continues to grow, so does the influence that these platforms have on users. In fact, a recent study found that social media influencers are now more effective than traditional celebrities when it comes to promoting products and services. This is likely due to the fact that people trust the recommendations of their peers more than they do those of famous people.
Of course, not everyone is an influencer and most people only have a few hundred or thousand followers. However, there are some individuals with millions of followers who can reach huge audiences with their endorsements. This has led to the rise of influencer marketing, which is when brands pay social media users to promote their products.
There are a few different ways that brands can work with influencers. The first is through sponsored posts, where the influencer simply posts about the product on their own page. The second is through giveaways, where the brand gives away products to the influencer’s followers in exchange for promotion. And finally, there are affiliate links, where the influencer includes a link to the product on their page and earns commission for every sale made through that link.
No matter which method they use, all brands need to be careful when working with influencers because there have been some high-profile scandals recently involving fake accounts and bots
As we head into 2021, it’s important to be aware of the latest influencer marketing stats so you can make the most out of your campaigns. Here are 25 influencer marketing stats you need to know:
1. 92% of consumers say they trust recommendations from friends and family more than any other type of advertising (Nielsen).
2. 70% of teenagers say they trust influencers more than traditional celebrities (Marketforce).
3. Influencer content is 10x more shareable than brand-created content (Mediakix).
4. Sponsored posts by fashion, beauty and fitness bloggers generate 4 times higher click-through rates than banner ads on the same sites (Bloglovin’).
5. 50% of Instagram users have purchased a product that an influencer recommended in their feed or stories (Instagram Business).
6. 53% of Americans would consider ending a relationship with a partner who did not approve of their favorite celebrity or social media personality (eMarketer).
7. 2/3rds of parents believe that children under 18 are influenced by online stars when it comes to purchasing decisions – including clothes, cosmetics, and toys (Mumsnet MediaGuardian research 805 respondents aged 18+ who are parents or guardians in the UK September 2018)
In conclusion, these influencer marketing stats show that this form of marketing is here to stay and continue growing in popularity. As a business, you need to make sure you’re using influencers in order to reach your target audience effectively. If you don’t already have an influencer marketing strategy in place, now is the time to start one!