Influencer marketing is a hot topic in the world of startups and marketers, so it’s essential to ensure you know the best influencer marketing statistics. This blog post highlights some notable statistics you need to see if you want to expand your reach through influencers.
Why Should Marketers Use Influencer Marketing?
There are plenty of reasons why marketers should use influencer marketing. Here are just a few statistics that highlight the importance of influencer marketing:
l 92% of people trust recommendations from others, even if they don’t know them, over brands.
l 70% of millennial shoppers say they’re more likely to buy a new product when learning about it from an influencer.
l Influencer marketing drives 11x higher ROI than traditional forms of marketing.
l Companies that use influencer marketing see a $6.50 return for every dollar spent.
As you can see, influencer marketing is a highly effective way to reach your target audience and promote your products or services. If you’re not using influencers as part of your marketing strategy, you’re missing out on a huge opportunity to connect with your customers and boost your bottom line.
Pros And Cons Of Influencer Marketing
Influencer marketing has been on the rise recently as brands look to tap into the power of social media personalities to reach new audiences. But what are the pros and cons of influencer marketing?
On the plus side, influencer marketing can effectively reach a large audience quickly and create word-of-mouth buzz around your product or service.
Do consider these downsides of Influencer Marketing.
- Influencer marketing can be pretty expensive, especially if you’re working with top-tier talent.
- It can be challenging to measure the ROI of an influencer marketing campaign. There’s always the risk that an influencer will say or do something that reflects poorly on your brand.
So, what do you think? Is influencer marketing right for your business? Weigh the pros and cons carefully before making a decision.
Top Influencer Marketing Statistics You Must Know
To better understand the current state of influencer marketing, it’s essential to look at some top influencer marketing statistics. Here are ten statistics that you should know:
1. There are over 500 million active users on Instagram.
2. Of those 500 million users, around 15% are considered “power users” who create most content.
3. The average Instagram user spends around 32 minutes daily on the app.
4. 78% of people say they trust peer recommendations over advertising.
5. 92% of people say they trust earned media, such as word-of-mouth and online reviews, over other forms of advertising.
6. Influencer posts have an average 1.6% engagement rate, which is significantly higher than the average 0.1% engagement rate for brands.
7. There are over 7 million active YouTube channels.
8. The average YouTuber earns $7.60 per 1,000 video views.
9. The top 1% of YouTubers earn around $40,000 monthly from their videos.
10. 50% of marketers say that influencer marketing is one of the fastest-growing and most effective types of marketing.
How To Find, Engage, And Measure Influencers?
The explosion of social media has led to the rise of influencer marketing. There are many ways to find influencers. You can use a platform like BuzzSumo to search for influencers in your industry.
Once you’ve found some potential influencers, you need to engage them. The best way to do this is to reach out to them directly and offer them something in exchange for promoting your product or service.
Once you’ve engaged an influencer, it’s essential to measure the results of their promotion. Did their followers convert into customers? How much traffic did their advertising generate? You can fine-tune your influencer marketing strategy and maximize your ROI by measuring the results.
Where To Find the Best Content Creator For Your Brand?
There are several ways to find the best content creator for your brand. Here are some tips:
- Social media platforms like Twitter and Instagram are great places to start your search. Use relevant hashtags to find content creators who produce quality content that aligns with your brand.
- Once you’ve found some promising content creators, look at their previous work to get an idea of their style and quality. Make sure their content is something you could see yourself working with.
- When you’ve found a few good candidates, reach out to them and see if they’re interested in working with your brand. If so, go ahead and collaborate.
- Finally, remember to measure the results of your content creator’s efforts. Please keep track of how their content performs and adjust your strategy accordingly.
Conclusion
As you can see, influencer marketing is rising and is quickly becoming one of the most effective marketing strategies. Now is the time to start if you still need to incorporate influencers into your marketing mix. With the help of an influencer, you can reach a whole new audience and take your business to the next level.
