Influencer Marketing is More Influential Than Ever
If you are not currently using influencers as a way to make your brand’s presence known, now is the time to add it to your marketing strategy. Here’s why…
Influencer marketing is more influential than first thought
How influential? How about to the tune of $21.1 billion? Recent statistics published in Influencer Marketing Hub—citing findings from an IMH State of Influencer Marketing report—noted a strong and steady growth in influencer marketing, with an increase of 29 percent from $16.4 billion last year. Here are especially noteworthy findings which support this increase:
- Where platforms are concerned, Instagram is a preferred site and yields the highest return-on-investment (ROI) for influencer marketing. It should be noted, however, that influencers are observing the highest rate of engagement on TikTok. So, that’s good news all around for influencers on these platforms.
- Many brands are increasing their budgets for influencer marketing, which further explains the dramatic rise to $21.1 billion. Additionally, more than 80 percent of marketers have a dedicated influencer marketing budget. The trend proves that an increased spend in marketing leads to increased engagement.
- Approximately 31 percent of social media users learn about new products and services (and brands) from content posted by influencers. The report cites findings from HubSpot which state that discovering a brand through an influencer is the preferred method of discovery among social media users.
Good news, yes? The points listed above demonstrate that influencer marketing is beyond vital. This vitality, however, is based on being authentic.
Both influencers and the brands prioritize authenticity in their relationships with customers. Thank Generation Z—the young customer base who places being authentic above everything else—for contributing to this change. Another powerful contributor to authenticity in influencer marketing: Artificial intelligence (AI) and machine learning (ML).
AI, ML, and influencer marketing
Yes, both AI and ML are being applied to influencer marketing, and this has proven beneficial. Some marketers are using these technologies to pinpoint and remove and report any influencers who are guilty of “social media fraud.” Additionally, AI and ML have proven effective in selecting influencers who would best represent particular brands. So, between the goal of eliminating dishonesty from the equation and building authenticity, a positive future for the growth—and, well, influence—of influencer marketing is assured.
Is your brand or business making a good impression on social media? EGC can help make a good impression great. That’s what we did for client Jovia Financial Credit Union, who saw astounding growth through this innovative influencer campaign.
Contact us to find out how we can add influence to your brand’s presence.