Social media advancement has become more than a place to connect with family and friends, it’s now integrated into our daily lives and a place we canget everything from news, products, and even earn a living. Yes, continued advancement in the social media world has led to the advent of social commerce.
Social commerce has revolutionized shopping by making it possible for consumers to find a product online and complete the whole purchasing process without leaving social media.
Today, consumers' purchase decision is highly influenced by online reviews and recommendations from influencers. By visiting a brand’s page or doing a simple search on social media, users can also get to see the reviews ofa product before they make a purchase decision.
Even better, social media users are now turning to celebrities and their favorite social media personality feeds for recommendations on the best brands out there. Statistics show that 49%of consumers depend on influencer recommendations (Digital Marketing Institute, 2021).
These changes have seen most brands abandon traditional advertising to embrace the new age of marketing and are reaping hefty benefits. A 2019 study by Mediakix reported that 17% of companies were willing to commit over 50% of their marketing budget to influencer marketing (Mediakix, 2019).
The study also revealed that 80% of marketers find influencer marketing effective and 89% said that Return on Investment (ROI) from influencer marketing was comparable or even better compared to other marketing channels.
According to a report by eMarketer 55.4% of brands leveraged influencer marketing in 2019, 62.3% in 2020, and67.9 % in 2021 (Enberg, 2021). The report shows that 72.5% of brands in the United States will use influencer marketing in 2022. The number of brands using influencer marketing is expected to continue growing in 2022 and years to come.
Word-of-mouth and social media are the preferred way for consumers to discover new brands, which makes it only natural that marketers would invest in partnerships with influencers. In fact, over half of all American adults use these platforms as their primary means of finding new brands!
TikTok is the leading influencer marketing platform in the US and the whole world. This is after it overtook Instagram during the 2020 pandemic period. Other popular influencer marketing includes Facebook, YouTube and Snapchat.
According to Tinuiti, over 90% of consumers engage influencers every week on Instagram, YouTube, TikTok,and Snapchat (Johnson, 2022). 52% of consumers will purchase from a brand they follow on Facebook.
This is clear evidence that influencers are an excellent choice for becoming a brand partner and a friendly voice to convey your marketing message.
As you embark on this new journey of influencer marketing, you should know that not all influencers or stars are fit to push your product or brand online. You need to do your research to meet the right influencer for your brand or product.
Reports show that 75% of creators are only interested inworking with brands that align with their values. For successful campaigns in influencer marketing, it is important to ensure the alignment of your brandwith the influencer’s audience.
Influencers are a fantastic and easy way to get your business in front of the right people. Influencers make it their mission to engage with followers on interesting content, so they're an excellent resource when looking for promotion or advertising opportunities!
Digital Marketing Institute. (2021, October 19). 20 surprising influencer marketing statistics. https://digitalmarketinginstitute.com/blog/20-influencer-marketing-statistics-that-will-surprise-you#
Enberg, J. (2021, March 12). Influencer monetization 2021. Insider Intelligence. https://www.emarketer.com/content/influencer-monetization-2021
Johnson, T. (2022, January 11). Influencer marketing statistics for2022. Tinuiti. https://tinuiti.com/blog/influencer-marketing/influencer-marketing-statistics/
Mediakix. (2019, May 27). Influencer marketing survey results: 2019industry benchmarks. https://mediakix.com/influencer-marketing-resources/influencer-marketing-industry-statistics-survey-benchmarks/