Marketing has changed quite a bit over the course of the last few years. A lot of these changes have come from the fact that a wide variety of marketing agencies have started to realize the value of digital influencers who might just be able to make it so that a particular product or service that they are trying to promote would find its way into a lot of people’s hearts and minds so much so that sales might just end up going up by a pretty large margin all in all.
The fact of the matter is that influencers work, and about two thirds of marketing agencies check the data for return on investment for the money that they are spending on influencers. In spite of the fact that influencers are a relatively new phenomenon in the world of social media, they have made quite an impact on the way marketing is done and as a result of the fact that the budget for influencer marketing is going to grow for a wide variety of agencies all of whom would be looking to cash in on this trend.
A survey of 4K marketers (conducts by CreatorIQ and Influencer Marketing Hub) found that the vast majority of them, 91% to be exact, agree that influencers are effective at marketing the products that they end up being assigned. The amount of money that will probably be spent on influencers is going to be close to ten billion this year, with two thirds of marketing agencies planning to increase the influencer budget. Every dollar spent on influencers has an earned media value of $5.87, which basically means that it is a highly profitable endeavor, one that can make it so that you really end up seeing an improvement in the success rate that your marketing campaign might be enjoying.
Read next: Gen Z/Millennial Consumers Prefer Authentic, Relatable Influencers, Research Shows
The fact of the matter is that influencers work, and about two thirds of marketing agencies check the data for return on investment for the money that they are spending on influencers. In spite of the fact that influencers are a relatively new phenomenon in the world of social media, they have made quite an impact on the way marketing is done and as a result of the fact that the budget for influencer marketing is going to grow for a wide variety of agencies all of whom would be looking to cash in on this trend.
A survey of 4K marketers (conducts by CreatorIQ and Influencer Marketing Hub) found that the vast majority of them, 91% to be exact, agree that influencers are effective at marketing the products that they end up being assigned. The amount of money that will probably be spent on influencers is going to be close to ten billion this year, with two thirds of marketing agencies planning to increase the influencer budget. Every dollar spent on influencers has an earned media value of $5.87, which basically means that it is a highly profitable endeavor, one that can make it so that you really end up seeing an improvement in the success rate that your marketing campaign might be enjoying.
While Instagram has continually led the pack during the years surveyed (2015 onwards), its usage has continued to rise each year. Now more than 90% of all influencer campaigns include Instagram as part of the marketing mix.Take a look at this infographic for more insights:
Read next: Gen Z/Millennial Consumers Prefer Authentic, Relatable Influencers, Research Shows