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Social Media Influencer Marketing Statistics
Influencer marketing is an impactful form of social media marketing. The impact of influencer marketing is due to:
- The connection influencers have with consumers.
- The prevalence of social media in society.
- Social media content giving a well-rounded overview of products or services.
- Influencer promotions leading to higher confidence in purchasing decisions.
All of these reasons are why businesses choose to invest in influencer marketing promotions. This article will cover statistics showing the effectiveness of influencer marketing, how it impacts consumer behavior, and will provide you with strategies to boost the ROI of your influencer campaigns.
What Is the ROI for Social Media Influencer Marketing?
The average return on investment (ROI) for social media influencer marketing is $5.78 for every $1 spent. Many businesses can see much higher ROIs than the average, with top companies having an ROI of $10 for every $1 spent. Influencer marketing is a growing industry with many businesses investing in it because of the high ROI.
How Effective Is Influencer Marketing Statistics
The high ROI isn’t the only statistic that shows how effective influencer marketing is for businesses. Some other statistics showing the effectiveness of influencer marketing are:
- Millennials and Gen Z trust influencers: Research has shown that 40% of millennials feel like their favorite influencers understand them better than their friends. 70% of Gen Z teenagers say that they trust influencers more than celebrities. This shows the significant impact social media influencers have on people in younger generations.
- Increased purchase intent: Studies have shown that consumer purchase intent is 2.7 times higher after seeing social media content from brands. In addition, purchase intent is 5.2 times higher when consumers see social media content from brands and influencers, showing that influencer marketing increases purchase intent significantly.
- Influences the buying process: 82% of consumers say they purchased, researched, or considered purchasing a product after seeing it on social media, especially when it was recommended by influencers, family members, or friends.
Each of these statistics shows the high effectiveness of influencer marketing and why many businesses see it as a valuable investment as part of their marketing strategy.
What Is the Impact of Influencer Marketing on Consumer Behavior?
Influencer marketing has a big impact on consumer behavior. Billions of people are active social media users, with studies showing that 56% of people check social media at least ten times per day. This high usage of social media and the connection that many consumers feel with their favorite influencers leads to influencer marketing being very impactful on purchasing decisions.
What Percent of Consumers Are Impacted by Influencer Marketing?
Nearly every active social media user will be impacted by influencer marketing in some way since it is very widespread, with 93% of marketers reporting that they use influencer marketing as part of their company’s marketing strategy. Whether it is brand awareness or making a purchase, most consumers will see influencer ads from accounts they follow and be impacted by them.
In addition, 49% of consumers say they rely on influencer recommendations for purchasing decisions. Many consumers will actively seek out reviews and other social media content showcasing the features and benefits of products or services before making a purchase. This makes influencer content an impactful part of the consumer buying process.
What Are the Most Effective Influencer Marketing Strategies?
Some influencer marketing strategies can lead to higher ROIs when done correctly. These strategies will help you efficiently utilize your influencer marketing budget.
Which Social Media Influencer Marketing Strategies Have the Highest ROI?
The most effective social media strategies with a high ROI are:
- Influencer campaigns that encourage user-generated content like contests, sweepstakes, and promoting branded hashtags.
- Using social commerce so consumers can buy products on social media platforms.
- Influencer promotions that use video content.
- Conducting market research before starting an influencer campaign.
- Using an influencer marketing platform.
- Collaborating with micro and nano influencers.
These strategies will lead to efficient spending and a high return on investment for your influencer campaigns. The next sections will provide more detail on each one.
Influencer Campaigns Encouraging User-Generated Content (UGC)
Influencers promoting contests, sweepstakes, or branded hashtags that encourage UGC have a high ROI. These promotions get consumers involved with the brand and influencer, creating a sense of community that makes purchasing and using a brand’s products fun.
How Social Commerce Leads to a Higher ROI
Allowing consumers to purchase directly on social media leads to higher ROI from influencer promotions. When an influencer’s followers see an ad and can buy directly on social media without leaving the platform, it makes purchasing easier, and consumers are more willing to make a buying decision.
Effectiveness of Influencer Campaigns that Use Video Content
Influencer ads that use video tend to outperform still photos and other types of content. Video leads to influencer promotions having a more personal feel, since consumers get a better idea of how the product looks and works, so they know how it would fit into their own lives.
How Market Research Leads to a Higher ROI for Influencer Marketing
Conducting market research before investing in influencer promotions will help you learn about your target audience and choose the right influencers for your brand. Choosing the right influencers and niches will lead to spending your influencer marketing budget more effectively.
Use an Influencer Marketing Platform to Boost ROI
Influencer marketing platforms like Lionize AI will help you create a more effective influencer marketing strategy. Lionize uses artificial intelligence to streamline the influencer marketing process and gives you valuable insights on how you can optimize your campaigns.
Collaborate with Micro and Nano Influencers for Higher ROI
Influencers with less than 100,000 followers typically have more engaged followers, well-defined niches, and will charge less to promote your brand. Finding micro and nano influencers in your niche can be a cost-effective way to promote your brand to a highly targeted audience.
Create a Winning Social Media Marketing Strategy with Lionize
Lionize is an influencer marketing platform that can help you create a winning social media marketing strategy. Lionize uses artificial intelligence to learn about your business and influencer marketing needs to help you connect with the right influencers, optimize your influencer marketing budget, and create goals for success. All of this is done on a streamlined platform that helps automate the process and track data from influencer promotions. For more information about how Lionize’s influencer search tool can help, Book a Discovery Call.
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Influencer Marketing PDF
Keep reading to learn more about influencer marketing and how it impacts consumer behavior, and to get a PDF list of our top tips for influencer marketing.
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