06 Dec The Power of Influencer Marketing
The Power of Influencer Marketing
Why are social media influencers so influential?
It’s something that we constantly ask ourselves and most of us don’t want to admit how influenced we are, but let’s face it if one of Ireland’s top influencers promotes something 9 out of 10 people want it.
But why is this the case, and why are we so easily influenced?
It all depends on two crucial factors:
Credibility- The degree of influence depends on the degree perceived power the influencer holds. Are they seen to be trustworthy, an expert in their particular field, a level of attractiveness to what they do and can we relate on a similar basis to them? In most cases, yes absolutely!
Reliability- Seen to be the most important factor. Putting aside the influencers following and popularity, can we see the influencer as a normal down to earth people who we can relate to? By bringing you on a journey into their life through Instagram and Snapchat stories they are keeping us connected in their everyday lives.
Take a look at the below statistics that confirm just how influential these influencers were over the last two years and the potential of the power of Influencer Marketing moving forward.
- The term “influencer marketing” increased by 325% in Google searches over 2017. Making this the fastest-growing online acquisition method of the year.
- This trend is likely to continue in the future, as roughly two-thirds of marketing departments are looking to increase their budget for influencer marketing over the next year. Marketers are expected to invest an average budget of $25,000 to $50,000 into multifaceted influencer campaigns this year.
- Generally, their money is well spent. For each dollar spent on influencer marketing, marketers see an average of $7.65 in earned media value returned.
- Instagram has come out on top and has now been named the biggest platform for influencer marketing. in 2017 a massive 12.9 million brand sponsored influencer posts were recorded. This number is estimated to double in 2018, creating an estimated market size of nearly $1.7 billion.
Please Read our Related Article – HOW TO IDENTIFY A CREDIBLE INFLUENCER FOR YOUR CAMPAIGN