Are you a content creator or influencer looking to keep up-to-date with the state of your industry? In these unusual times businesses and individuals are affected from all angles, leading to many changes in consumer habits and brand tactics.
From brand preferences when working with influencers, to the affect of COVID on the industry, the growth of new platforms and intuitive stats to help you produce better content, this list has it all!
Brand Goals & Preferences
Wondering what the goal of influencer marketing is for brands? Understanding this will help you deliver what they are looking for, impress brand managers and land you the long-term deals you’re after.
Here are the top objectives marketers rank for their influencer endeavours:
86% place brand awareness as one of their top objectives
74% aim to reach new or targeted audiences
69% are looking to improve brand advocacy
46% rank increasing sale conversions in their top three objectives
(Source: World Federation of Advertisers, 2018)
Nano & Micro Influencers
Nano and micro influencers have undoubtedly grown in popularity over the last couple of years, so if your audience is still small do not fear!
88% of marketers prefer working with influencers with 100,000 followers or less. In fact, 35% prefer influencers will less than 10,000 followers! (SocialPubli, 2020)
70% of marketers place the ideal range to be somewhere between 2,000 and 100,000 followers. (SocialPubli, 2019)
The popularity and power of content creators has experienced rapid growth in the last few years. If you’re a content creator then these stats will push you onwards on your journey, reinforce your confidence in the industry and remind you of your central position in consumer purchase decisions.
8 out of 10 customers have purchased something after seeing it on a content creator (Rakuten, 2019)
49% of consumers regularly depend on influencer recommendations (Digital Marketing Institute, 2018)
Industry and News
The astronomical growth in popularity of influencer marketing certainly paints an exciting picture of the future for all content creators and marketers. Has this progress slowed though? Find out below.
By 2022 the influencer marketing industry is expected to be worth $15 billion (Business Insider, 2021)
Nearly 4 in 5 businesses plan on creating a dedicated influencer marketing budget within the next year (Influencer Marketing Hub, 2020)
92% of marketers believe influencer marketing to be an effective form of marketing (Influencer Marketing Hub, 2018).
We see no signs of the development and popularity of this industry slowing down… do you?
With the monumental growth of the industry it’s hardly surprising to see new companies and platforms appearing on the scene to capitalise on this insanely effective form of marketing. New platforms not only present an opportunity for reaching new audiences to brands, but represent huge leaps in engagement rates for influencers.
One study found TikTok influencers to get significantly higher engagement rates than all other well known platforms, averaging a whopping 7.7%! (Influencer Marketing Hub, 2019)
Traditional platforms typically average much lower engagement rates: Instagram (1.67%), Facebook (0.15%) and Twitter (0.043%) (RivalIQ)
If you’re not taking advantage of these new platforms to grow your audience and engagement rates then it’s definitely worth considering!
Any list of influencer stats in 2021 would be incomplete without taking into account the effects COVID-19 has had on the industry. Let’s see how brands’ aims have changed during this pandemic.
50% of marketers now use influencer marketing for generating a positive brand image
42% are now looking to drive more sales online
39% are now aiming to reach new audiences
(Source: SocialPubli, 2020)
How has this changed? Based on the first stats in this post, we can see the focus has shifted from reaching new audiences to focusing on the customers and audience they already have through positive brand messaging, with the goal now being more centered around driving online sales rather than brand awareness.
Amid slashed marketing budgets from COVID and lower consumer confidence it’s hardly surprising to see these shifts in the market. It could be an early sign that working on your ability to convert sales as an influencer could be a smart move as brands’ shift their focus.
In these uncertain times brands are evermore concerned with measuring the results of influencer campaigns. With lower budgets they need to make every £ count and have something tangible to show for it.
Here are the most common metics for measuring influencer success:
Conversions/sales (39%), Engagement/clicks (34%) and Impressions (27%) (Influencer Marketing Hub)
If you’re not used to converting sales with your campaigns then we recommend you start to focusing on this more. As the industry evolves towards more measurable and identifiable returns you’ll stand a better chance of attracting evermore wary brands for collaborations.
Dos and Don’ts
Authenticity has long been the name of the game for influencers and brands when it comes to influencer-brand partnerships. But how important is this?
94% of marketers believe only authentic influencers drive results (Clickz, 2019). In fact, these marketers believe brands can only enjoy success so long as they allow influencers to speak freely about their products.
This contributes to the ever growing evidence that authenticity is truly the key to influencer marketing, meaning influencers and content creators should keep a sharp eye on new platforms and tactics creating opportunities to make their content all the more authentic.
Fake followers have long been a no no in the influencer marketing game. To illustrate:
54% of marketers cite fake followers as the number one challenge in assessing the authenticity of influencer’s followers. (SocialPubli, 2020)
Much better you play the slow game and build your audience organically than pay for some ‘quick win’ which will only damage your reputation and chances of getting work from the brands you dream to collaborate with.
Stories have been part of our lives long before the advent of the internet. They have been proven time and time again to increase recall and memory when it comes to taking onboard information.
Cognitive psychologists suggest we are 22 times more likely to remember a fact when it has been delivered as part of a story.
Why? Because stories are memorable. Stories help us internalise an idea quickly. They awaken emotions.
Inserting data/hard numbers into your story will increase the perceived benefit of what you’re talking about and increase the effectiveness of your call to action, whether that’s to buy, click or signup. The bottom line is that the combination of data and a well-told story satisfies both the left and right sides of the brain and is much more likely to inspire your audience to act.
There are a number of mediums you can choose from when creating content for your audiences that will vastly improve its effectiveness. Knowing which to take advantage of and why will aid you on your way to generating super engaging content.
Photos provide the highest engagement for influencers on both Facebook and Instagram. (RivalIQ)
Video is the most popular content type for marketers. 31.7% name video as their preferred medium for influencers to use, behind product photos (28%). (SocialPubli)
Viewers claim they retain 95% of a message when experienced via video. (Social Media Week)
Want to create truly memorable content so you’re top of mind for consumers when they’re ready to be inspired to buy? Be sure to include a photo or video or two to drastically improve your chances of success.
Its better late than never to start paying attention to the stats of your industry. Use this list to start you off on your journey to becoming an expert influencer!
Thanks for reading 🙂