The Rising Influence of Influencer Marketing

I often joke that if you ask anyone under the age of 16 what they want to be when they grow up, the overwhelming response has become “a YouTuber” or “Instagram celebrity.” But is it a joke? One study found nearly 75% of children between the ages of 6 and 17 want to have a career in online content[1].

But, behind this amusing statistic is a truth that should encourage marketers to wake up – social media influence is expanding into a force that cannot be ignored.

In fact, social media influencer marketing is expected to be a $10 billion industry by 2022 and 17 percent of companies are now spending half of their overall marketing budget on influencer marketing. Another 39 percent of marketers are planning to increase their influencer marketing budgets in 2020, with Instagram now the reigning queen of social media platforms[2].

We’re seeing more brands prioritize influencer marketing simply because it works, it’s cost-effective and consistently delivers results that outperform many traditional promotional tactics, like earned media.

The reason social media influencer marketing works boils down, simply, to the perceived relationship consumers develop with online influencers. Often, these online personalities are viewed as trusted friends as they provide followers a personal glimpse into their lives, their audience feels a real connection with them.

These influencers are omnipresent in the lives of modern consumers with more than 60% stating they interact with an online influencer daily. These influencers are trusted, and their endorsement of a product or brand can directly influence sales with 60% of consumers saying an online influencer inspired a recent purchase.

In fact, influencer marketing provides brands some of the strongest ROI for your marketing dollars with one study finding an average gain of $6.50 for every $1 spent on influencer marketing.

Considering you don’t need to spend a lot to get started with influencer marketing (many companies can kick-off a successful program for less than $1,000 a year), it provides an easy, cost-effective way to reach a wider audience.

Has your organization embraced social media influencer marketing? If so, has it been successful for you?

About Christina Gales:

Christina Tyler Gales, APR, MBA is an award-winning, strategic communications leader in Chicago, Il. As an independent PR and marketing executive, Christina works with some of the world's leading brands and public relations agencies, including Porter Novelli and McDonald's. She previously held corporate communications and marketing leadership positions at McDonald’s Corporation, Transunion and Allstate Insurance Company.

Christina is a former president of PRSA Chicago. She has an MBA in corporate social responsibility and a bachelor’s degree in communications. She received her Accreditation in Public Relations (APR) in 2008.

For more information, visit her website at www.christinagales.com

[1] https://www.crosswalk.com/blogs/dr-james-emery-white/when-i-grow-up-i-want-to-be-a-youtuber.html

[2] https://influencermarketinghub.com/9-mind-blowing-influencer-marketing-statistics/