Posted by Influencers are everywhere. From celebrities to politicians, these influencers have the ability to drive traffic to specific media outlets (and in some cases, even personal social media pages). If you’re reading this, you probably know by now that Influencer Marketing is big business.
In the past two years alone, we’ve seen staggering growth in the influencer marketing industry.
According to market research company Brand New, global spending on influencer marketing will reach $1.3 billion in 2020 from $300 million in 2017. Here are six surprising statistics that will blow your mind.
Today, anyone with an Internet connection can become an influencer. With the abundance of online video and social media sites that have opened up in the past few years, it’s not difficult to see why so many people are getting involved in this of digital marketing strategy.
It’s also made it much easier for brands to come together with a collection of like-minded individuals and market their products or services to a global audience without leaving home. In this article, we’ll take a look at some surprising statistics that will blow your mind when you learn about them:
As you can see from the above table, the influencer marketing industry is booming. In the last year alone, brands and agencies have invested over $1 billion into the space. With so much growth, you might be tempted to ask: Is this a fad or something more? What about the negative connotations that come with the term “influencer marketing”? Well, it’s important to note that the growth of the influencer marketing industry has been steady and substantial over the past few years. And it’s expected to grow at a healthy, predictable rate in the years ahead.
Influencer Marketing Is Still In Its Infancy
The concept of “influencers” dates back to the 1950s, when the first book on the topic was written. Influencer marketing, as it’s now known, didn’t gain widespread attention until the late 2000s. That’s when brands started turning to social media influencers to drive more targeted traffic to their websites and Facebook pages. These days, brands use social media influencers to drive both targeted and general traffic to their pages. The most popular types of social media used by brands to drive traffic to their pages include Facebook, Instagram, and Twitter.
Influencer Marketing Can Impact As Much As $500 Million
Here are three ways that the influencer marketing industry can impact $500 million or more in 2022. Marketers Can Drive More Visitors To Their Sites With Influencer Marketing This one is pretty straightforward. With more than 70 million people using Facebook every day, it’s easy to see how this one could have a significant impact on the industry.
Influencer marketing company can use social media influencer to drive more targeted traffic to their sites by offering these influencers special discounts or free stuff in exchange for their endorsement. Marketers Can Take Advantage Of The Power Of The Social Media Credibility Grid Just like regular old-fashioned advertising, the credibility of social media influencers is key to the overall success of a brand. By showcasing these individuals and brands as trustworthy sources of information and intelligent, informed consumers, brands can increase their engagement rates with their followers. This, in turn, can result in more sales, brand advocacy, and the growth of a personal social media following.
The Future of Influencer Marketing Is Very Improving
With such huge potential for growth and success, it’s no wonder that the influencer marketing industry is in a state of transition. The old ways of doing things are being slowly replaced by new ways that rely less on expensive, high-risk ad campaigns and more on building long-term relationships with social media influencers. In 2020, brands will begin to ditch the big ad campaigns and go straight to the social media influencer’s door. The new way to go is with micro-influencer marketing campaigns — campaigns that have very limited budgets, but nonetheless, have the potential to drive even more engagement and sales.
Bottom Line
In the past two years alone, the influencer marketing industry has grown by over 50%. According to market research company Brand New, global spending on influencer digital marketing will reach $1.3 billion in 2020 from $300 million in 2017. With so much growth, you might be tempted to ask: Is this a fad or something more? What about the negative connotations that come with the term “influencer marketing”?
Well, it’s important to note that the growth of the influencer marketing industry has been steady and substantial over the past few years. And it’s expected to grow at a healthy, predictable rate in the years ahead.
As the old saying goes, you can’t successfully market to 100% of the people. As more and more people are becoming brand advocates and consumers, the competition for consumer attention is getting fiercer by the day. The result? More complicated marketing strategies can make it difficult for new brands to get noticed.
In an increasingly crowded marketplace, influencer marketing has become one of the best ways for a brand to gain exposure and drive revenue from a diverse group of passionate followers.