Influencer Marketing Facts
In the present times, social media has become a core part of our lives and influencer marketing has surely skyrocketed. Nowadays people are following their Instagram Icons, twitter personalities, and all-time favourite YouTubers for recommendations on what to buy. The budget of influencer marketing has increased so much due to which 8 out every 10 marketers have been using influencer marketing since last year. Social media nowadays acts like a cake of opportunity for normal people to make their image by creating and sharing attractive content. The influencers nowadays are more approachable than traditional celebrities and due to the exceptional use of social media nowadays, companies are using these platforms to market their brands. Constant growth in the field of influencer marketing is the result of good research conducted which has resulted in some interesting statistics.
The following are some Jaw-dropping facts about influencer marketing.
6 out of 10 teenagers choose influencers over traditional celebrities for recommendations
Almost half of the millennials say that their influencers understand them better than their friends. This acts as a plus point for brands since brands are not able to build a good connection with the consumers and by collaborating with these influencers, the brands can maintain goodwill with their customers. Influencers also act as a way of saving resources for these brands since they don't have to waste their resources for offline promotions and advertisements. With the word of mouth from the influencers, these brands can deliver their message to the consumers.
Influencer marketing is the fastest consumer attracting method
More and more brands are stepping into the field of influencer marketing to promote their brand and build a connection with influencers. The brand needs to collaborate with an influencer whose creativity resonates with that of the brand. Also, around 22% of marketers say that influencer marketing is the most cost-effective way of funnelling customers Around 56% of the fashion industry is investing in influencer marketing. The industry that highly uses influencer marketing is the fashion and beauty industry. These rely a lot on influencer marketing as a basis for the organic growth of their country. More than half of this industry invests in influencer marketing and another 21% is planning to step in by the next year. YouTubers like Nicole Guerriero and Grav3yardgirl collaborate with brands due to which these influencers’ brands are gaining thousands of views on YouTube
Increase in budget
Due to the phenomenal growth, influencer marketing has provided the brands in the current and past years, around 67% of the brands are planning to increase their budget on influencer marketing, especially on Instagram. This shall help to increase brand reach and attract a new audience. Influencer marketing has grown exponentially in the past two years. The industry which had a net worth of $2Bn is now looking forward to a growth of $10Bn. This has been the greatest any industry has grown in such a short period. This also means that Influencer marketing now is a core marketing strategy. Hence, the competition will continuously increase in this field and the marketers will be to evolve their strategies, analyze the market more and build good relationships with influencers.
Print marketing has been surpassed by influencer marketing
The world of advertisements has evolved. Brands are now upgrading how they spend on marketing their product. Ads in newspapers, magazines, etc are expensive and in terms of reach, they are not sufficient. On the other hand, the same reach is offered by influencer marketing with a higher return on investment. It is high time for the brands to collaborate with influencers who are yet to do so. A good way to begin would be to collaborate and reach out to the industry's top influencers and recommend their audience to one’s product. The brand needs to find the influencer who is in good sync with the brand to create a successful campaign. Understanding the true power of influencer marketing and using it for building brand recognition is highly important.
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