Let’s face it: people trust what other people have to say and this is why influencer marketing has become such a powerful marketing strategy in recent years. By using key brand advocates – with trusted opinions and large social followings – it is possible to directly reach an already-engaged community of target consumers. With numbers of social media users continuing to soar, influencer marketing is projected to grow even more in the coming years.
The statistics create a convincing argument that brands can benefit hugely from partnering with the right influencer. For every dollar spent on influencer marketing, companies reportedly earn an average of $7.65 (1). Yes, an average! Here are a few more mind-blowing statistics on the influence of influencers.
The positive impact of influencers on purchase intent is well-documented.
Research by the Twitter team found that nearly 40% of Twitter users have made a purchase as a direct result of a Tweet from an influencer (2). They recorded a 5.2X increase in purchase intent when users were exposed to brand and influencer tweets, compared to 2.7X when just shown brand tweets.
Influencers engage with their followers, creating friendships rather than fanships.
According to Google, 70% of teenage YouTube subscribers say they relate to YouTube creators more than to traditional celebrities. Furthermore, 4 in 10 millennial subscribers say their favourite creator understands them better than their friends (3). This is due to the community spirit that influencers foster by engaging and interacting with their audience.
An influencer’s opinion is already trusted.
If an influencer shares a post on Instagram about how amazing her new moisturiser feels on her skin, followers are likely to be interested in learning more about the product. In fact, 86% of women use social media for purchasing advice because an influencer’s perspective is more unique, relatable and has that storytelling aspect that consumers seek out and trust (4).
The cost of influencer marketing is going up, up, up, with marketers investing $25,000-$50,000 in some campaigns. However, the right influencer can effectively become a valuable extension of your marketing department. It is, therefore, crucial to select an influencer that aligns well with your brand.
Influencer marketing is one of today’s fastest growing customer acquisition strategies because they are able to gain and sustain what some brands cannot – the trust of a real community of like-minded, engaged and loyal people. By collaborating with someone who has an above-average social media presence and has already grown a steady following, it is possible to connect consumers to your brand through relatable stories and personal experience.