Are you looking for a better way to promote your services? An estimated 65% of marketing and consulting professionals want to leverage influencers.
In this article, you will discover the latest trends focused on influencers.
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Influencer Marketing Growth Projections
According to eMarketer, 2021 kicked off a big year of growth for companies that invest in influencers. By 2023, it will be a $4.62 billion industry in the United States alone.
A key reason businesses are investing more in influencers boils down to one word: algorithms.
Across all social networks, algorithms reward those with highly engaged audiences and those who create content that people consume. This is where influencers tend to shine.
The proportion of businesses using influencer marketing is growing substantially.
How do influencers make more money?
It’s important to understand the trends among the influencers themselves so that you’re well equipped when pursuing influencer relationships.
According to the Influencer Marketing Hub’s Creator Earnings Benchmark Report 2021, branded deals are the number one way influencers make money. These arrangements represent 77% of his income.
Affiliate offers and ad engagement revenue combined make up less than 10% of your revenue.
Additionally, the report shows that newer influencers earn much less than more experienced influencers, which could be an opportunity for consultants and entrepreneurs.
When it comes to social platforms, 72% of influencers use Instagram as their main content channel, followed by TikTok (13%) and YouTube (9%). While Instagram and influencers seem to go hand in hand, consultants may want to explore platforms where content can have a much longer lifespan, such as YouTube and TikTok.
Related content: Brand relations with influencers: barter or paid actions?
Consumer Opinions on Influencer Marketing
A recent SlickText survey found that consumers value reviews the most (37.8%), followed by how-to content (16.3%), when it comes to sponsored content.
However, when asked about authenticity, consumers prefer unbiased reviews. This means that you’ll need to allow influencers to share their honest thoughts if you want customers to pay attention to your business.
When asked what type of content makes influencers seem most authentic, respondents said:
- Information about his personal life (23.56%).
- Has interactions with followers (27.12%).
- It looks like them (9.04%).
- Provides an unbiased review of a product or service (34.43%).
The same group of respondents said that the following content erodes their trust in an influencer: Here are some additional facts: Gen Z respondents said that Instagram has the most genuine influencers, followed by TikTok. Boomers said that Facebook has the most genuine influencers.
Views of consultants and entrepreneurs on influencer marketing
According to a study by Inmar Intelligence, only 33% of consultants, entrepreneurs and brands cite influencer marketing as an important part of their marketing.
The biggest challenge is tracking influencer marketing actions back to an actual purchase, when multiple touch points are involved.
According to the Inmar Intelligence study, digital consultants prefer to use these platforms for influencers, in order of preference:
Should you explore diversifying your marketing efforts with influencer marketing? If your organic efforts are stagnating and you don’t want to pay ever-increasing advertising costs, building relationships with up-and-coming influencers could provide a substantial advantage for your business.
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