You’ve heard the basics. Influencer marketing is a $2 billion industry projected to climb to a $10 billion value by 2020 (Adweek). Despite this increase in spending, some brand managers are still desperately trying to prove the value of influencer marketing.
Here are 10 killer stats that should persuade even the greatest naysayer on your team.
- Google classifies the keyword “influencer marketing” as a “breakout,” meaning that the keyword is experiencing growth greater than 5000%.
- According to a study by the ANA, advertisers are so enamored with influencer marketing that a full 75% of their companies currently employ the discipline. Also, almost half (43%) are planning to increase their spending on it in the next 12 months.
- According to a study by Ogilvy, Cannes, and TNS, nearly three-fourths of consumers identify “word-of-mouth” on social media as a key factor in their purchasing decisions.
- Roughly 37% of individuals aged 18-34 say they’re more likely to trust brands after being exposed to sponsored posts from influencers.
- Word of mouth is the primary factor behind 20 to 50% of all purchasing decisions.
- 75% of Instagram users take an action after looking at a sponsored post, and 60% of users discover new products on the platform
- 43% of social media users report buying a product after sharing or favoriting it on Facebook, Twitter, or Pinterest.
- Rates brands are paying influencers are going up. Over 65% of influencers reported an increase in rates in 2018 over the previous year.
- Instagram is presenting itself as the clear-cut favorite for many influencer-fueled campaigns. With nearly 60% of influencers saying say it’s the channel that brands request most often.
- Influencers crave creative control, yet only 13% of influencers say the brands they work with give them enough freedom. Allowing influencers to infuse their posts with personal experiences and perspectives fuels authentic content. It’s this authenticity that audiences are keen to sniff out, and it also underpins the success of most influencers.