As social media has become a more integrated part of our lives, influencer marketing has exploded. People are turning to their favorite Instagram stars, Twitter personalities, and YouTubers for advice and recommendations on purchasing decisions. To get the most out of any influencer you may use, it’s crucial to build an influencer marketing strategy.
These influencers are trusted by millions of consumers, and marketers are paying attention. It turns out that 48% ran influencer campaigns with interest in using influencers on TikTok rising 325% in just one year according to The State of Influencer Marketing 2021 research.
Social media has given normal people an opportunity to build their own brand through stimulating content and engagement. These new influencers are more relatable than traditional celebrities. After all, countries across the globe are using social media platforms in one form or another. And, since more people are joining social media networks every day, companies have realized they can leverage these platforms for marketing.
Influencer Marketing Statistics
Interest in influencer marketing has only grown, which means a lot of research has been conducted, producing interesting statistics. So let's take a look at some of the most eye-popping results of these studies. Here are 20 influencer marketing stats that will surprise you.
1. 70% of Teens Trust Influencers More than Traditional Celebrities
It's extremely difficult for brands to build Photo Editing Services the same level of trust that influencers possess, but thanks to influencer marketing that trust can be transmitted to your brand. So much so that 4 in 10 Millennial subscribers say their favorite influencer understands them better than their friends. Another effect of influencer marketing is that brands don't have to waste resources promoting themselves, and instead use influencers to speak on their behalf and deliver the message they want people to hear and trust.
2. 86% of Women Use Social Media for Purchasing Advice
This statistic should be important to any brand that either has women as their primary target audience or within their scope of ideal customers. It seems if you want to reach more women and get them to buy your product or service, you need to be present on social media and aware of the influencers they are interested in. And this behavior is growing, as 78% of women are active on social media with a preference for Snapchat and Instagram. When it comes to influencer marketing, over half of women made purchases due to influencer posts. The key to engaging this cohort through influencers is to be genuine and inspirational.
3. 49% of Consumers Depend on Influencer Recommendations
This statistic demonstrates the growing importance of social media influencers for brands to connect with their audiences. Not only do 49% of consumers depend on influencer recommendations, 40% had purchased something after seeing it on Twitter, YouTube or Instagram. If consumers feel confident about an influencer's recommendation, they are more likely to make a purchase. Brands are able to piggyback on the trust of influencers.
4. TikTok has created a $1 billon Creator Fund to nurture influencers
To encourage creators that dream of making a living from TikTok using their unique voice and creativity, the platform launched the TikTok Creator Fund in 2020. This fund requires creators to have up to 100,000 video views over a month to be eligible and is a reward to TikTokers for bringing joy to large audiences. The fund started at $200k and is expected to grow to $1bn in the U.S over the following three years. Their aim is to build an army of influencers that can make a living through brand partnerships, sponsorship and representation deals. Some of the first recipients of the fund were chef Matt Broussard, ‘Kombucha girl’ Brittany Tomlinson and prankster David Dobrik.
5. Influencer Marketing Campaigns Earn $5.78 for Every Dollar Spent
The State of Influencer Marketing 2020 found that 66% of marketers plan to increase their influencer marketing budgets, this area of marketing is becoming the fastest-growing channel for brands, beating organic search, paid search and email marketing. In addition, businesses earn $5.78 for each dollar spent on influencers, with some seeing as much as $18. That's a significant return on investment and you can figure out your ROI using a social media calculator. In terms of influencer channels, Instagram and Twitter are cited as the most effective platforms.