Influencer marketing, which is the collaboration of influencers and brands is an effective method which can assist companies in their growth. This is a method of marketing which has been utilized successfully by hundreds of companies and brands, and has experienced steady growth in the last decade.
Influencers are seen by their followers as reliable experts in their area, they are able to positively influence their followers’ buying decision-making. Their endorsements or suggestions will help brands increase their reach and create leads.
In spite of the effects of Covid 19 on the world the influencer marketing market remains in high demand for marketers and brands, and it’s predicted to grow even more. It’s now an integral element of marketing strategies, and there are numerous studies that show its effectiveness.
Influencer Marketing Statistics for 2022
1.Influencer marketing increased from a $1.7 billion to a $13.8 billion dollar industry in the last five years.
Influencer marketing global market size reached $13.8 Billion in 2021. There’s no doubt that influencer marketing can be lucrative. The market has grown to $1.7 billion back in 2016, to $9.7 billion by 2020. In 2021, it increased into $13.8 billion, which indicates a steady increase.
2.Influencer Marketing Industry to Reach $16.4B in 2022
In the coming year is predicted to reach a staggering $16.4 billion.
The reason for this is the growing popularity of video shorts on social media platforms such TikTok, Facebook, and YouTube and the impact of the pandemic worldwide on consumers, which has accelerated the use of social media, as well as the improvement of data collection that marketers utilized to create advertisements on social media. (Source: Statista)
3. Influencer-generated posts 8X outperform branded posts, according to 60% of marketers.
Consumers prefer third-party content over branded content from the brand’s production or graphics team. 60% of Advertisers found that influencer generated content generates on average 8x more engagement than branded content. (Source: Influencify)
4. Influencer whitelisting outperforms traditional social media ads by 20-50%
Influencer whitelisting happens when a creator grants an advertiser permission to use their brand’s advertising on their social media profile. The brand makes use of the creator’s content to push advertisements to new audiences through the profile of the creator. These ads are more natural to customers and, in turn, they have better results than traditional ads. (Source: Influencify)
5. The median Earned Media Value (EMV) for content created by influencers for brands ranges from 12-18 dollars.
EMV is A way to summarize the worth of the frequency with which your company is mentioned in things you can’t directly influence or spend money on . Consider it as an approach to track your online word of mouth and place an amount of money on your social media marketing efforts.
6. Influencer marketers earn average $5-6.50 per $1 spent on influencer marketing
Based on over 1000 influencer marketing campaigns analyzed by Influencify, we found that brands earn an average of 6X ROI
7. Influencer marketing spending in the USA to reach more than $4.5 Billion dollars by 2023
Brands are predicted to spend over $4.5 Billion on influencers by 2023.
8. Over 60% of brands used influencer marketing in some extent in 2020.
9. Around 40% of B2B marketers are planing to use influencer marketing more often in the near future
Influencer marketing has proven to be a great success for B2C online retailers. Today, a variety of B2B sectors are making money and seeing great results.
10. Over 70% of businesses have planned to boost their influencer marketing budget in 2021.
The Future of Influencer Marketing
Influencer marketing can be a powerful marketing strategy. Businesses that make use of influences in their marketing strategies are much more likely succeed, particularly in the event that they’re able to form long-term and sustainable partnerships with the creators. 2022 is sure to bring many changes in the field of influencer marketing. We hope our post can keep you up to date as the year progresses.
What can you do with these stats to boost the effectiveness of your marketing influencer campaign
When you review this list of influencer marketing statistics, you will find answers to some of the most pressing concerns in the field:
- How does influencer marketing work?
- What are the main reasons that certain influencer programs are more effective than other influencer programs?
- Which regions are most likely for consumers to interact with their top influencers?
- How many companies use influencer marketing?
- What kinds of creators, social channels and content work best for the audience?
When you’ve answered the above questions, you may utilize these statistics to accomplish the following:
- Set realistic expectations for your influencer program currently in place
- Plan influencer campaign budgets
- Learn more about your target audience
- Make sure you are targeting the right target audience, channel and creators online
- Present ideas for new concepts to your manager or team
- Increase your reach by introducing new channels
- Discover new ways to reuse Influencer-generated content (i.e. paid ads) to increase the ROI