Influencer Marketing Infographic : The Latest Research & Findings
Influencer marketing is huge right now! In fact, it is estimated that the market is worth 1.5 billion dollars. We’ve just added a new report on the ‘current state of influencer marketing‘ where you can learn about what kinds of results you can expect from influencer partnerships, which strategies best suit your industry and how to target specific audiences.
According to the WFA, despite recent concerns about ‘influencer fraud‘, 65% of brands plan to increase spending on influencer marketing going forward.
The main reasons why brands are investing in influencer marketing:
- To increase brand awareness
- Reach new audiences
- Improve brand advocacy
The number of #ad posts has seen a consistent increase month on month. In addition, more than 1.5 million Instagram posts were tagged with #Ad in 2017. We expect that this trend will continue throughout this year since ad regulators have been very firm with brands and influencers about correctly tagging sponsored content.
Klear also reports that influencer marketing grew by 198% in 2017.
How do people measure their influencer marketing activity
Another interesting piece of data to come out from WFA’s study is that the most used KPI to measure influencer marketing is reach & views. This makes sense considering brand awareness is the most common reason for brands utilising influencer marketing. However, measuring reach doesn’t mean you’re reaching your target audience. Additionally, a ‘view’ doesn’t mean that the user was influenced by the post, they may have simply scrolled past it.
Engagement is a better way to measure influencer marketing activity. However, look beyond the number of likes. After all, as discussed in our recent blog on influencer fraud, likes can be bought. Comments are a more reliable metric for how engaged someone’s audience is. However, they also can be paid for, so have a scroll at the comments to spot any that don’t look legit.
Website traffic is a really good way to measure whether people have actually taken interest in what we’re promoting. If our traffic or even sales have gone up since the post, this could indicate a successful influencer marketing campaign. This, of course, depends on what the aim of your influencer programme is.
Another way to measure the impact of influencer marketing is the measuring impact on your own brand. Has your own brand engagement increased since the post? Look at the number of brand mentions, brand sentiment and trending themes.
What to look for in an influencer?
Reach: How big is their audience? This will tell you whether they are actually influential. However, don’t just use followers as this is often inaccurate (due to influencers buying followers, and there being a lot of social media bots!)
Audience: Who is their audience? If it’s not your target audience, don’t bother! One way to do this is to look at what they post, and if it matches with the kinds of things you’re posting, they probably have a similar audience. Social influencer software will provide a breakdown of audience demographics including location, age, gender, interests and more.
There’s a difference between a celebrity and an influencer. As described by Shane Barker, Brand Strategist & Influencer, “Celebrities generally gain their following because people admire their talent and enjoy their music or movies. Influencers, on the other hand, tend to gain their following in a specific niche by creating content relevant to that niche“. These influencers have usually gained this following by having conversations with those interested in that niche. Ideally, we want an influencer who has an active audience who feels involved.
Finally, we should consider whether the influencer’s audience trusts their opinion on your particular niche. For example, a recommendation on baby food from a mummy blogger is going to be trusted more than someone who has no parenting experience.