Influencer marketing has surged to become a necessary component of every marketer’s social media strategy. It is a globally significant industry with ever-increasing relevance. As consumers spend more and more time online using different social media platforms, brands must find ways to authentically reach them, and influencers are a great option. A large part of the reason influencer marketing has become such a successful industry is that it resonates with social media users, and it allows brands to generate sales and positive branding at an affordable cost.
If you haven’t launched your influencer marketing strategy, now is the time to do so. With channels like Instagram and TikTok influencer marketing, brands have multiple ways of reaching new audiences and building their social media outreach. If you need proof of the effectiveness of influencer marketing, there is a lot of data that highlights the medium’s viability. Let’s look at some incredible statistics highlighting the power influencer marketing has for businesses.
In just one day in October 2021, two of China’s top live-streamers, Li Jiaqi and Viya, sold $3 billion worth of goods. That’s roughly three times Amazon’s average daily sales (Influencer Marketing Hub):
China is one of the markets in the world where influencer marketing is most flushed out. The power influencers in China wield is astronomical, particularly the live streamers who e-commerce companies use to generate some whopping numbers. Online sales are projected to pass retail sales in China over the next few years, and influencers are a big reason why. This stat showcases the sheer magnitude of influence the content creators in China have. These two influencers, two of China’s top live streamers, generated over $3 billion worth of sales from their live streams on Alibaba. Li Jiaqi and Viya are two massive creators in China, and their live streams for the Chinese purchasing holiday of Single’s Day broke records for sales generated. This shows the impact content creators’ endorsements can have for businesses.
86% of Women Use Social Media for Purchasing Advice (Digital Marketing Institute):
Every kind of demographic utilizes social media. Even older generations have found themselves consistently using platforms like Facebook and others. But different types of people use social media differently. One demographic that is particularly reliant on social media for their purchasing decisions is women. If you are a brand that has products geared towards women, social media is the place to be, as a whopping 86% of women use social media for purchasing advice. For this reason, many of the most successful influencers are in the fashion and lifestyle niche, which tend to appeal more to women.
60% of Millennials are more likely to take advice from Youtubers than Traditional Media Personalities (Startup Bonsai):
For younger generations, growing up alongside the rise of the influencer industry has fostered a deep connection with these content creators. Marketers have used endorsements from celebrities, musicians, and other media personalities for years now, but ultimately, the younger generations trust influencers more. A large majority of millennials prefer the advice of Youtubers to advice from traditional media personalities. This is a large reason for the viability of the influencer marketing industry. With traditional media personalities, there is a distance. What we see of them are talk shows, red carpet appearances, and concerts. But with YouTubers and influencers, there is more access and authenticity, even if it might be manufactured. This increases people’s trust and makes their advice more valuable to consumers.
8 out of 10 Consumers have purchased something due to an Influencer Recommendation (Oberlo):
Influencer marketing isn’t just on the rise. It is something that is here right now and extremely important. A vast majority of consumers have made purchasing decisions based on influencer recommendations. Influencers’ opinions are highly valued in the minds of consumers, and they drive our behavior. This is a number that is likely only going to increase. Younger generations spend a growing amount of time on social media platforms, and the more we interact with influencers, the more their words carry weight. Investing in influencer marketing is a great way to see benefits from the changing state of how consumers buy. Influencers are high-impact, low-cost solutions for businesses that have a say in how most consumers make their purchasing decisions.
If you are looking to launch your influencer marketing strategy, partnering with a top influencer marketing agency helps brands hit the ground running. Influence Hunter is an influencer marketing firm with years of high-level social media marketing experience. Influence Hunter has helped businesses across industries develop and launch customizable, high-performing influencer marketing campaigns. Contact us today to find out what we can do for your business.