The power of Influencer Marketing
You’ve probably heard all about influencer marketing, but do you know how powerful it actually is? From the likes of Kylie Jenner, PewDiePie, to Wanderlust - all your favourite celebrities, personalities, and social media stars are all, in one way or another, actively engaged in influencer marketing.
If you aren’t really sure what the big deal about influencers is, sit back and take note. We’re going to take you through how powerful Influencer Marketing can be.
First off, what and who is an influencer?
We’re in the age of social media, and with its growth, we’ve seen the power social media influencers can have on marketing. These influencers are people who have built a following based around their knowledge or expertise around certain topics. Their popularity and connection with their followers is what makes them great advocates for brands. They can set trends, create social awareness, and influence their audience to buy products they promote.
Brands have started to embrace the power of influencer marketing by approaching influencers who are well-known or popular within their industry. They engage with these influencers to help promote their products with the intention of growing brand awareness and increasing sales. In fact, marketers love this strategy so much, that 86% of them have been engaging in influencer marketing for promotion and awareness.
The reach and power of Influencer Marketing is undeniable
Business 2 community have found that 92% of consumers trust word of mouth recommendations more than any other type of advertising. Influencer marketing is considered to be the modern form of word of mouth, and the power that some of these influencers have over their audience’s purchase decisions is huge!
Here’s a few stats that prove how powerful Instagram Marketing actually is:
53% of women make purchases due to Influencer Posts
If your product or service is largely targeting women, social media is the place to be. Over half have made purchases based on influencer posts on Facebook and Instagram. You’ll need to be aware of the influencers they are following and engage with the ones who are able to promote your brand best.
70% of Teens Trust Influencers More than Traditional Celebrities
Gaining customer trust is one of the hardest things to do, however, influencers can help you do so by being an advocate for your brand. When an influencer promotes your brand, their audience feels a sense of trust towards you and your product or service. Influencers such as bloggers, and industry experts tend to feel more genuine, making teens of today trust them more than traditional celebrities.
74% of People Trust Social Networks to Guide Purchasing Decisions
Three-quarters of consumers rely and trust opinions they find on social media by influencers, friends and family to help them make the right decision about buying particular products and services.
49% of Consumers Depend on Influencer Recommendations
Nearly half of consumers now depend on influencer recommendations for their purchase decisions. This is expected to increase with the continuous growth of influencer marketing. More and more consumers are trusting their favourite influencers’ recommendations, making them more likely to purchase from the brands they promote.
The Influencer Marketing Industry is Expected to Hit $10 billion by 2020
The influencer marketing industry has experienced tremendous growth over the past couple of years. Worth just $2 billion in 2017, the industry is expected to increase to $10 billion by 2020 due to influencer growth and its effective use as a marketing strategy.
With influencer marketing set for growth, it’s time to leverage it’s effectiveness now! It gives brands an opportunity to tap into their following and build a base of customers they may not have been able to reach otherwise. You don’t have to waste all your resources on promoting yourself, instead, influencers can promote on your behalf, spreading messages to their audience that they can trust.
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