Did you know that Influencer marketing delivers 11X higher ROI than traditional forms of digital marketing, and up to 94% of marketers who used influencer marketing agreed that the tactic is effective?
Lately influencer marketing has become an essential tool for local marketers. It is probably because we’ve realized how powerful it is, especially as an alternative to traditional advertising, which can be expensive and inefficient.
More importantly, consumers nowadays don’t want to be sold to by brands and companies. They prefer to be advised by their friends, role models, family members and people they trust.
In short, influencer marketing is a form of marketing campaign used to create brand awareness and expand the reach of the company through collaboration with influencers who have the ability to influence potential buyers of a product or service by promoting or recommending the items on social media.
Great engagement from Influencer marketing
Engagement seems to be a really popular choice for brands when working with influencers to improve their interaction with their audience.
However, the interest in clicks, impressions, and conversions also shows that more marketers are raising their expectations on influencer marketing seeking further ROI from each partnership.
In 2018, only 39% of marketers planned to increase their influencer marketing budgets. The figure has increased to almost twice in the first half of 2019!
According to Mediakix, an influencer marketing agency in the US, nearly two-thirds of marketers plan on increasing their influencer marketing budgets in 2019.
Mediakix stated that up to 89% of marketers claim to get equal or better ROI from influencer marketing as compared to other marketing channels!
Influencer marketing will become a $10 billion industry by 2020
Influencer marketing is a growing industry and more marketers seem ready to invest in it and believe that this industry will reach $10 billion by 2020, which means the challenge of partnership with influencer will be bigger.
statistic from: Influencer Marketing in 2018: Becoming an Efficient Marketplace
Get ready to spend more this year on influencer marketing – because if you don’t, your competitors will.
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