Influencer Marketing: It's Not Just a Fad [Infographic]
When are you more likely to buy a product – when a friend recommends it to you or when you see a commercial?
Research shows that 92% of consumers trust recommendations from other people – even someone they don’t know – over branded content. As marketers, we face a challenge of not only pitching traditional ideas to retail brands, but newer, out-of-the-box ways to reach consumers as well.
Influencer marketing has become a central focus of marketing strategies and budgets for 2017. According to Bloomberg, an estimated $255 million is now spent on influencer marketing every month. With a buy-in like that, what’s the return on investment? “EMarketer” reported that advertisers earned an average of $6.85 for every $1 they spent on influencer marketing.
The key to a successful influencer campaign is not to land the Kylie Jenner's of the world (*SHOCK*). You want an influencer who has a niche, engaged audience. That sweet spot? A user with 10,000-100,000 followers is more likely to be able to engage your target consumers with a unique voice and quality content.
Keep in mind that 84% of all consumers and more than 90% of Gen Z and millennials are active on social networks. Additionally, 74% of millennials find mobile ads to be irrelevant and 62% of 18-to-24-year-olds would buy a YouTuber-endorsed product over a celebrity-endorsed product.
As marketers, we must start thinking from a bottom-up approach, especially when it comes to targeting Millennials and Generation Z.
Are you working within FTC-approved guidelines?
As a result of the growing success of Influencer Marketing, the Federal Trade Commission (FTC) implemented guidelines for social media influencers. But, don't panic! These regulations were put into place to protect influencers, brands and consumers. All good things!
View this on-demand webinar, The New FTC Guidelines You Need to Know, to learn the requirements to running a successful influencer marketing campaign for your business and receive an outline of important (and easy!) guidelines to follow (along with a free downloadable checklist!).