Influencer Marketing Fact Sheet

Influencer marketing has become ubiquitous on social media. Whether it’s YouTube, Twitter, TikTok, or Instagram, influencers have power and ever-expanding follower counts. Today, influencer marketing is a multibillion-dollar industry. And, it’s not just big names who marketers turn to. Niche or “microinfluencers” have become a key means of reaching the masses. 

Explore the following statistics to get a better understanding of the state of the industry. 

Influencer Marketing Trends

Influencer marketing is experiencing growth, growth, and even more growth, despite pandemic-related budget cuts. 

The industry is growing enormously. “The Influencer Marketing Industry is set to grow to approximately $13.8 Billion in 2021.” — Influencer Marketing Hub

Influencer marketing budgets remain intact amid COVID. “Sixty-seven percent of marketers said their overall digital marketing budgets have decreased in Q2 [2020] due to the pandemic, but only 41% said the same for their influencer budgets. In fact, almost 60% said their influencer budgets would stay the same or increase.” — Research Report: Influencer Marketing During COVID-19, Linqia

Twitter users trust influencers almost as much as friends. “When looking for product recommendations, 49% of respondents to our survey said they relied on influencers. That’s second only to Tweets from friends, who 56% of consumers sought for guidance.” — The Value of Influencers on Twitter, Twitter and Annalect

TikTok is booming for influencers. “Interest in using TikTok in influencer marketing campaigns rose 325% in just one year. Now 68% of marketers want to leverage the platform in 2021.” —  Linqia

Influencer Marketing Uses and Benefits

Marketers find working with influencers to be very effective. Though tactics have evolved somewhat over time, marketers see influencers as an important way to advertise their brand. 

Good customers come through influencer marketing. “Fifty-one percent of marketers believe they acquire better customers through influencers.” — Tomoson

Marketers prefer campaign-based influencer strategies. Influencer Marketing Hub’s 2021 report found that “67% of respondents prefer their influencer marketing to be campaign-based rather than always-on.” — Influencer Marketing Hub

Microinfluencers are in. Nine in 10 enterprise marketers want to use micro-influencers, which is up from 80% in 2020. — Linqia

Influencer video content is popular with marketers. “Seven out of 10 U.S. agency and marketing professionals advertise in influencer videos.” — Content Facts for 2021: What You Need to Know, Content Science Review

Amid COVID, marketers turn to influencers to strengthen brands. “Of the marketers running influencer campaigns now, 63% are using the channel to convey the right message for their brand, while 17% are trying to raise awareness and no marketers said they are leveraging influencers to drive sales.”  — Research Report: Influencer Marketing During COVID-19, Linqia

Influencer campaigns can extend the impact of content marketing. To make the most of an influencer campaign follow these three tips: 

• Follow the rules: In the U.S., the Federal Trade Commission has clear guidelines for disclosing when an influencer’s posts are sponsored.
• Let the influencer be creative: The influencer knows his or her audience best and can present you or your content in a compelling way. And all while staying aligned with your brand.
• Get clear data about the results: About two thirds of marketers have reported experiencing influencer fraud, where an influencer misled or fell very short of the results they promised. A great way to get precise about the impact of your influencer marketing campaign is to give the influencer a link with a special code. That way you know traffic using the code had to come from your campaign.

— Content Marketing for Social Media, LinkedIn Learning 

Bottom Line

Influencers are clearly an essential part of many marketing strategies today. However, marketers should be cautious and do their due diligence to be sure they only partner with quality influencers. “The Federal Trade Commission is concerned that ‘fake accounts, fake likes, fake followers, and fake reviews are now polluting the digital economy, making it difficult for families and small businesses looking for truthful information.’” You also want to ensure your organization’s values are aligned with an influencer’s values so you can avoid a potential conflict. But, when marketers find influencers who are the right fit for their brand, there is ample opportunity to increase awareness, gain customers, and drive revenue.