The increased popularity of influencer marketing is attributed to the desired results it is achieving.
Customers rely more on family and friend’s recommendations than on direct advertisement of a brand. It is quite natural if we look at it from personal context. If a sales guy shows up at your doorstep and start explaining the benefits of a product, he cannot convince you to buy it, but if your neighbor recommends the same product it will influence your buying decision. An influencer connects your brand with target customers. it provides greater reach because an influencer not only brings their audience but also their audience’s network as well. This will bring more traffic to your site and more awareness about your brand on social media. This generation consumers are keeping visual ads out of their sight and avoiding commercials. According to a report by Digital News Report, 47% online customers use ad block technology. Today’s customers are self-equipped to research about a brand or product on their own and majority of the time they want to hear about the product from the trustworthy person before they buy it. This is where influencer marketing is becoming more effective when traditional outbound marketing is going through the downfall. Here are some key statistics about social media and influencer marketing put together by Eric Burgess for 2016:
- Customers using ad block technology – 47%
- People trust recommendations from individuals over brands – 92%
- Amount of web traffic driven by Facebook alone – 25%
- Pace of Instagram’s annual user growth – 50%
- Snapchat’s Annual user growth – 56%
- Consumers using social media to make purchase decisions – 74%
- Marketers judged influencer marketing to be effective – 81%
- Marketers believe they get better customers from influencer marketing – 51%
- Retention of customers acquired through word-of-mouth advertising – 37%
- Marketers increasing budget for influencer marketing – 59%
According to a research study published by Kirkpatrick, influencer marketing can initiate 11 times more return on investment (in terms of reach, engagement, and sales) than other forms of advertising annually. Marketers use influencers in a variety of ways such as content promotion, product launch, content creation etc.
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