For those of you who are unfamiliar with the term, influencer marketing refers to brands working with established social media profiles who have a dedicated following and are often experts within a given niche, to promote their product/service in exchange for payment.
In today’s age, many brands look to partner with a global influencer marketing agency due to their expertise in pairing influencers with brands and running influencer marketing campaigns. With more and more brands hopping on the influencer marketing bandwagon, these agencies are showing no signs of slowing down.
With influencer marketing solidifying its place in the marketing world in 2022, let’s take a look at some key insights into how it took the social mediasphere by storm.
Brands using influencers attribute 32% of sales to social commerce
Influencer marketing is a great way to drive conversions. According to a marketing report by Aspire, 32% of brands are using influencers to help sell products directly through social platforms.
Influencers are increasingly becoming part of the buyer journey. They’re involved from the moment a consumer discovers a product on social, right through to the moment they decide to buy. It’s a sure fire way to influence your audience’s purchase decisions.
50.7% of brands who work with influencers, run ecommerce stores
The majority of brands working with influencers are ecommerce or have an online store. This makes sense when sales continue to be attributed to social commerce.
Nearly 72% of Gen Z and Millennials follow influencers on social media
If you’re after Gen Z and Millennials, influencer marketing should be a top priority. That’s because 72% of the audience who follow influencers say that this is where they often learn about new products and services.
Brands get $4.87 for every $1 they spend on influencer marketing campaigns
According to HypeAudit, you can get – on average – $4.87/£4.21 for every $1/86p you spend on an influencer. For example, a post that would cost you $500 would make you a $2435 return.
71% of influencer marketing campaigns are run in-house
It seems increasingly important that influencer marketers are learning best practices. Brands could reach out to influencer marketing agencies to help them run their campaigns, however, a lot of marketers are finding that learning to manage influencers and understanding the legal aspects of the influencer marketing industry, is becoming increasingly valuable.
68% of influencers appreciate working with the same brand
Long-term collaborations mean your influencer partners can become true brand ambassadors. This will increase your brand’s transparency and strengthen the loyalty between you and your followers.
79% of brands use Instagram to run influencer marketing campaigns
Brands still prefer to work with influencers over Instagram than TikTok – despite the engagement rates.
43% of marketers say Facebook is important to their influencer marketing campaigns
If you’re running influencer campaigns on this channel, consider combining with Facebook ads to do some hyper-targeting.
6 out of 10 YouTube users would rather get product advice from their favourite creator
70% of Gen Z relate to their favourite YouTubers over traditional celebrities and 4 out of 10 millennials think creators understand them better than their friends.
For ecommerce brands, this is a fantastic channel to launch influencer marketing campaigns on.
24% of marketers think TikTok is effective for their business goals
In 2020, just 3% of marketers believed TikTok to be effective for their marketing. Two years on and this has shot up to a whopping 24%.
Impressions and views that TikToks receive are already mind-boggling. Combine that with an influencer marketing campaign and that’s even more views (and potential customers).