Influencer marketing has hit the mainstream and is continually evolving.
A 2018 report indicated that companies that used influencer marketing received a 520% return on investment, proving that it’s an effective strategy to deliver the business’ message to hard-to-please consumers.
Last year’s figures are enough for more brands and marketers to jump on the bandwagon to potentially widen their audience reach. So what exactly are the trends that are driving the increase in businesses’ allocated budget for this particular marketing strategy?
For starters, Instagram hit a milestone in June 2018 when it reached one billion active users, proving yet again that it’s one of the most widely used social media platforms worldwide.
Another popular trend in influencer marketing is the use of videos. This medium delivers a high engagement rate, and Google search results favor this type of content. So it is highly possible that this year we’ll see more brands collaborating with influencers who operate across various video platforms.
Furthermore, marketers are prioritizing collaborations with influencers who effectively convey their brand’s values and place more importance on engagement than popularity (massive number of followers).
This may be the reason why there’s an increased demand for nano- and micro-influencers. They are known to have fewer followers (nano-influencers have fewer than 1,000 followers, and micro-influencers have between 1,000 and 100,000 followers), but they deliver higher authenticity and engagement rate, attracting discerning consumers and prompting marketers to put their trust in these influencers.
All of these are just an overview of the latest influencer marketing trends. To know more about the influencer marketing stats and facts, check out the infographic below from SmallBizGenius.