Not that long ago, if your business had a sizeable marketing budget, it would engage a celebrity use and share their experience your product or service with their followers on their blog or social media.
Nowadays, with influencer marketing, it doesn’t take an actor, sportsperson or movie star with thousands if not millions of followers to reach a broad audience.
Businesses can use an ‘average person’ influencer. Not all influencers are indeed celebrities, and they’re in high demand and get paid handsomely for social media activity like sending an Instagram post. Many businesses prefer endorsement from more relatable people.
Younger people, in particular, are less impressed with celebrities and ‘fake’ endorsement and choose to follower people they can relate to personally, and this has been great for Instagram and also good for business.
Did you see it coming, Instagram leading other platforms in the number of users and annual growth percentage? Twitter is looking less attractive with just less than 330 million users while Instagram has broken through the billion user mark, an achievement secured in a year ago in June 2018. The question on everyone’s lips is when it will surpass Facebook?
If the statistics are anything to go by, you wouldn’t bet against this platform’s continued success. The proof is in the statistics, of course. By the numbers, influencer marketing statistics presents critical supporting data in an infographic.
The popularity of Instagram is evidence of the success of engagement via sharing images and a few words of recommendation.
In the infographic, some of the key statistics are:
- Nearly 50% of users rely on influencer referrals or recommendations for their purchases
- Not all influencers need millions of followers the so-called ‘micro influencers’ with 100K or less are attractive to marketers, and it’s the largest influencer group on Instagram.
- No surprises here, the industries using this marketing the most are lifestyle, beauty and fashion.
Other sectors with a high representation of influencers are health, food, travel and can you believe it – DIY. Who would have thought the do-it-yourself sector would outperform entertainment and technology among other notable groups.
How Can Businesses Get Better Results?
It’s all very well hearing about how well your competitors are doing with their influencer marketing campaigns, but how can your business do better with it?
Believe it or not, like all other marketing strategies, the quality of your content will determine your success and this might be disheartening to know, as your business might struggle to generate interesting content.
Well, even the most tedious businesses in sectors like tax, accounting and law are driven by people. With ingenuity, marketers and outreach agencies will create sharable content for influencers as that’s what they’re good at and your internal team can focus on sharing tips on what your business does best.
If you’re in the business sector influencer marketing is not less popular than the groups mentioned above, e.g. lifestyle and fashion so you’ll want to be selective with who you choose as your influencer.
One of the biggest challenges for marketers irrespective of the sector is how to select the most appropriate influencer. The reason is the whole strategy is new, and it appeals to young people, so it stands to reason most influencers are young and many are teens. Engage a marketing agency with expertise in creating influencer marketing campaigns.