Influencer marketing has rapidly grown from relatively unknown to a hugely popular marketing strategy.
This unique marketing strategy uses the idea that people are more likely to accept advice from people they trust. Since influencers cultivate that trust with their following, this marketing method is highly effective.
Influencer marketing shows no signs of slowing down. In fact, it’s expected to continue to grow. Below are some helpful statistics to keep in mind for 2021.
Top 10 Influencer Marketing Statistics For 2021
- Influencer marketing will continue growing
- Instagram is the top platform
- Tiktok is emerging as a contender
- Snapchat is the least favorite
- Influencer marketing has a high ROI
- Marketers find influencer marketing effective
- Increasing brand awareness
- Influencer fraud is still a concern
- Small influencers have an impact
- Video content is booming
1. Influencer marketing will continue growing
The influencer industry has seen steady growth in the last few years, and that is projected to continue. It’s expected to be worth $13.8 billion in 2021.
2. Instagram is the top platform
Instagram remains by far the most popular platform for influencer marketing campaigns. The platform has been on the scene for about a decade and has about 1 billion monthly active users.
3. Tiktok is emerging as a contender
While Instagram remains the platform of choice for campaigns, TikTok usage continues to increase. Created in 2016, TikTok is fairly new on the social media scene. The platform sets itself apart by boasting much higher engagement rates than other social media platforms.
4. Snapchat is the least favorite
Snapchat has been left in the dust when it comes to social media campaigns, with most marketers reporting it as the least important social media channel. Instagram Stories have won out over Snapchat Stories.
5. Influencer marketing has a high ROI
The average ROI for influencer marketing is about $5.20 for every $1 spent. Returns could be higher or lower as well.
6. Marketers find influencer marketing effective
With a high ROI, it’s no surprise that 89% of marketers find influencer marketing to be an effective marketing strategy. Most have a portion of their marketing budget dedicated to it.
7. Increasing brand awareness
Increasing brand awareness is the most popular goal for marketers for influencer campaigns.
8. Influencer fraud is still a concern
Influencer campaigns are only effective if they reach a real audience. Fake influencers with thousands of bot followers do not make for an effective campaign. What’s worse, it could damage a company’s reputation.
9. Small influencers have an impact
Many companies are opting for Nano-influencers or Micro-influencers. Although smaller influencers don’t have the widest reach, they tend to have higher engagement rates. Engagement is a key metric.
10. Video content is booming
People are viewing more videos now than ever. Videos can quickly explain a product without demanding people trudge through text, and they have become a popular type of content for marketers.
Influencer marketing is not going anywhere anytime soon. With about 3.5 billion total social media users worldwide, it’s no wonder it’s such an effective marketing method.
Be sure to keep the above statistics in mind this year. Need help? Contact us!