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State of the Influencer Marketing Industry

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In the last years Influencer Marketing is growing its importance as a marketing channel, for both the influencer and the advertiser. In this post we have collected a set of facts and figures that show that this Influencer Marketing Industry is not just a trend. It is becoming a reality.

 

The New Audience Behaviour

The role of the audience has become less passive, with more capabilities to search for information and find sources of trust, making more difficult to perfectly target them via traditional marketing. Also the new consumers have a stronger capability and more tools to reach and inspire other peers. See below how their behaviour is pushing the Influencer Marketing Industry focus.

  • Over two thirds of Millennials are using some form of ad blocker. Source: eMarketer
  • 73% of Millennials feel responsible to guide friends and family to make smart purchase decisions. Source: Fleishman-Hillard PR & Hearst Magazine
  • 70% of consumer prefer to learn from a company via articles rather than ads. Source: Content Marketing Institute
  • 68% of consumers are likely to spend time reading content from a brand they are interested in. Source: The CMA.

 

The Power of Influencers

Due to the exponential increase of online media, word-of-mouth has intensified its reach and influence power. The effectiveness of mass marketing is decreasing as consumer rely more on experts offering a personal view of a product or a brand.

  • Word-of-Mouth is the primary factor behind half of the buying decisions and customers generated by word-of-mouth show 37% higher retention rate. Source: McKinsey & Company
  • 92% of consumers trust online word-of-mouth recommendations over brands (even from strangers), and for 84% of the customer the peer recommendation is above the rest of the advertising tools. Source: Nielsen
  • 49% of people say they rely on recommendations from influencers when making purchase decisions. Source: Twitter and Annalect
  • 70% of the brand advocates are considered a good source of information. Source: Marketingcharts
  • 90% of consumers find custom content useful, and 78% of them believe that companies behind content are interested in building good relationships. Source: McMurry/TMG

 

The Influencer Marketing Industry Channels

Blogs

Blogs have a strong position as a source of high value content for readers. They have been the main channel in the Influencer Marketing Industry. The quality of the posts and the personal style of each blogger have allowed them to build strong ties of trust with his audience, becoming a reliable source of information and recommendation.

  • Blogs play a key role as resource when making overall purchases (31% of influence), only behind retail sites (56%) and brand sites (34%). Source: Technorati
  • 81% of US customers trust advice and information from blogs and 61% made a purchase based on their recommendations. Source: BlogHer
  • 89%  of micro-influencers post content to a blog platform. Source: Bloglovin’
  • Blogs are 63% more likely to influence purchase decision than magazines. Source: Content Hero

 

Social Media

The new social channels have not only empowered some blogger reach, but also skyrocketed new influencers who use this social media to quickly growth by sharing specific pieces of content, references and media.

  • 74% of consumers use social media to inform about their purchase decisions. Source: Sproutsocial
  • 47% of Millennials state that they are influenced by social media recommendations Source: Deloitte
  • 6 in 10 twitter or Facebook users are more likely to recommend a brand they follow. Source: Social Media Examiner
  • 47% of Americans say Facebook is the number one influencer of their purchases. Source: Jeff Bullas
  • 40% of people say they’ve purchased a product online after seeing it used by an influencer on Instagram, Twitter, Vine, or YouTube. Source: Twitter and Annalect
  • 59% of micro-influencers consider Instagram as the most effective media to engage their audience. Source: Bloglovin’

 

How Advertisers are playing in the Influencer Marketing Industry?

Some companies are aware of the importance of content marketing, however to make content worthy is still a challenge for them. The ones who are aware of the role that influencer marketing and are taking advantage of this new scenario.

  • 63% of B2C + 61% of B2B marketers don’t think their content is effective. Source: trackmaven
  • Sharing your content through influencers will increase conversion by at least 3x to 10x higher rate. Source: Content Marketing Institute
  • Almost 60% of fashion and beauty brands have an influencer marketing strategy in place. Source: eConsultancy
  • 74% of global marketers will use ‘influence marketing’ as part of their marketing strategy in the next 12 months. Source: Social Media Today.
  • Nearly 60% of marketers plan to boost influencer marketing budgets. Source: Adweek
  • Content marketing is 62% cheaper than traditional marketing and generate nearly 3x more leads. Source: DemandMetric
  • So far, 78% of brands increased their own content generation (without influencers) in the last two years but their average engagement decreased by 60%. Source: trackmaven

 

If your company wants to get the most from your Influencer Marketing Strategy, contact us and we can help you to achieve your goals.

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