As technological dependence increases and society become more social media focused, it is important to ask the question of whether influencer marketing is growing or declining. Why should we focus on influencer marketing? How does it help my business? What are the main platforms for influencing? These are some of the questions Influencer Marketing Hub, NeoReach, and Viral Nation set out to find as they surveyed more than 800 Marketing Professionals. The results are nothing short of spectacular for the future of influencer marketing and your company’s success. You can read the full benchmark report here.
In recent years, there has been skepticism as to whether influencer marketing was a dying business or a blossoming titan. However, market projections give us a clear indication of where influencer marketing is going. With a predicted 41 percent increase in growth in the years from 2018 to 2019, the influencer marketing market is one of the fastest moving industries right now. While the industry itself is taking large steps towards success, so are its necessary foundational platforms such as Instagram. In 2013 Instagram had a mere 100 million users however by early 2018, Instagram hit over one billion active monthly users that digest 9.5 billion photos and advertisements a day. Considering that influencer marketing thrives on its relationship with Instagram, these are extremely promising markers for influencer marketing considering Twitter and Facebook combined have less monthly traffic than Instagram alone.
While the influencer marketing sector grows, that does not mean individuals will trust and use the service. However, any notion of that is cast away when the benchmark states that 86 percent of companies intend to contribute portions of their budget to influencer marketing. Not to mention that 63 percent of those companies intend to increase their spending on influencer marketing in 12 months. The confidence of businesses in influencer marketing is the main driver of these statistics. Actually, 92 percent of companies believe that investing in influencer marketing is an effective and efficient way of optimizing a business.
While these statistics speak volumes as to the rave that is surrounding influencer marketing, let us consider why this is happening. In a study of 2,000 companies, NeoReach found that companies that used influencer marketing got a 520 percent return on every dollar spent on influencer marketing. Influencer marketing campaigns in 2018 saw a whopping 800 percent return on investment. It doesn’t take a businessman or businesswoman to realize that those return on investment numbers are almost unheard of. With confidence in influencer marketing being extremely high and performance in ROI exceeding expectations, it is clear to see that influencer marketing is establishing itself for the future.
As we come into the heart of 2019, it is important to analyze these statistics and see how the optimization of business through influencer marketing could be right for your business. With social media and technology-based media become more prevalent in the market, influencer marketing is growing at a rapid pace and is predicted to continue to do so. Not only do companies believe in influencer marketing, but they have the numbers to back up their investment. Influencer marketing is the answer to a complex network of intercommunication and technology. While this market may have started slowly, it is showing no signs of slowing its growth as it skyrockets to one of the most sound investments for a 21stcentury company.
NeoReach is the leading social media influencer marketing platform. We help brands identify and advertise at scale through the top social media influencers. Get started with us today!
This article was written by Harrison Loew.
