Is influencer marketing effective 2020?

Marketers find influencer marketing effective, and are upping their budget in 2020. Whether your goal is to increase brand awareness, sales or reach new audiences, always set clear KPIs (and tracking) beforehand.

Is influencer marketing still effective?

80\% of marketers say influencer marketing is effective, and 89\% say it works just as well (if not better) than other marketing channels. 71\% of marketers say the quality of customers and traffic from influencer marketing is better than other sources.

Is influencer marketing effective 2021?

Influencer marketing 2021 forecast According to our latest forecast, 67.9\% of US marketers from companies with 100 or more employees will use influencer marketing in 2021, up from 62.3\% last year. In 2022, that figure will rise to 72.5\%.

What is the growth of influencer marketing?

The global influencer marketing market size has more than doubled since 2019. In 2021, the market was valued at a record 13.8 billion U.S. dollars.

How profitable is influencer marketing?

Influencer Marketing Delivers a Strong ROI On average, businesses generate $6.50 in revenue for each $1 invested in influencer marketing . 70\% make $2 or more, and 13\% make $20 or more. Most businesses get solid results from influencer marketing, with just the bottom 18\% failing to generate any revenue.

Are influencers growing?

Influencer marketing is expected to grow to be worth $13.8 billion in 2021. From $1.7 billion in 2016, influencer marketing is estimated to have grown to have a market size of $9.7 billion in 2020. That’s expected to reach $13.8 billion in 2021.

How important is influencer marketing?

Influencer marketing expands your reach and positioning in the market. Social media users can learn more about your brand, your story, and the products or services you offer. The contributions influencers make in growing your brand awareness is one of the most prominent benefits of social media marketing.

How effective is influencer marketing in India?

Furthermore, nearly two-thirds of the Indian population follow an influencer. 100\% of marketing leaders have agreed that influencer marketing was a high or top priority for their marketing calendar for 2021, as per INCA influencer marketing survey.

Why is influencer effective in marketing?

“For product categories such as beauty products, influencer marketing is an effective way to reach the target audience. The influencers not only show how the products look like, but also how they are applied. On top of that, some influencers can also help brands to build a community.

Do influencers actually drive sales?

Your business can earn positive reviews that mean more than the random reviews they read elsewhere. All of this is to say that the right social media influencers really can drive sales. Forbes Business Development Council is an invitation-only community for sales and biz dev executives.

What is influencer marketing and how does it work?

Influencer marketing is when companies partner with influencers in order to increase brand awareness or conversions among a specific target audience. Marketers accomplish this through sponsoring an influencer’s online content, with the goal of endorsing their brand, product or service, and in some cases, drive purchases.

What will influencer marketing look like in 2020?

1. 65\% of influencer marketing budgets will increase in 2020. Nearly two-thirds of marketers will increase their spending on influencer marketing this year. In 2018, only 39\% of marketers planned to grow their influencer marketing budget, suggesting that brand investment in influencer marketing will increase dramatically this year. 2.

How big is India’s influencer marketing market?

According to digital marketing agency AdLift, India’s influencer market is estimated at $75-150 million a year, as compared to the global market of $1.75 billion. From an online marketing perspective, this is a sizeable amount, and the number is expected to go up as more Indians go online with cheap data and affordable smartphones.

How did social media influencers become so popular?

This is how social media influencers were born, and quickly attracted the attention of marketers. Over the last five years, brands have collaborated with social media influencers across channels to generate awareness, and influencer marketing grew from an ancillary marketing tactic to a $5-10 billion dollar industry.