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We have seen the impact that celebrity endorsements have on a brand. Customers’ purchasing decisions have long been influenced by what celebrities have to say about it or what the neighbours do. In the internet age, we no longer depend on neighbours for our purchase decisions. We are influenced by what Social Media celebrities are saying or doing on Twitter or Instagram. All influencers are not necessarily film stars or sports personalities. They could be successful people in different fields whose thoughts and views are respected and followed by many. As statistics show, influencers wield a lot of power in assisting consumer decisions. If you analyse the statistics of influencer marketing, you will be surprised at the data which pops up.
Influencer Marketing Industry expected to hit $16.4 billion in 2022- The influencer marketing industry is expected to grow nearly 10X from $1.7 billion in 2016 to $16.4 billion in 2022. Are you surprised?
This results from the popularity of short video formats on platforms like TikTok, YouTube, Instagram and Facebook. This was triggered to a great extent by the pandemic that forced people to stay indoors.
Instagram is the preferred social media platform for influencers. Although Facebook had more than 2.89 billion monthly active users, Instagram, with 1.3 billion monthly active users, is the go-to channel for influencers. According to a study, 79% of marketers prefer to use Instagram as a part of their influencer marketing strategy.
Video Content is the most preferred format on Social Media – Video content is preferred over images as they attract more clicks and leads. Viewers engage with the content better, and the click-through rates for video ads are much higher.
Influencer Marketing budgets expected to be raised – The growing success of influencer marketing is forcing brands to raise their influencer marketing budgets. This is expected to be the norm in the near future.
The majority of marketers use Influencer Marketing – Can you believe that a recent study (Source-Oberlo) shows that 93% of marketers use influencer marketing as part of their digital strategy. In comparison, only 7 % have never used it. This clearly shows the growing role of influencers in brand promotion in a digital world.
Micro-Influencers are playing a significant role – In 2022, Micro-influencers are expected to play a much more significant role. Social media followers tend to engage more with micro-influencers than with celebrities. Micro-influencers wield more influence over the views of their followers as they engage better with their followers. So their opinions tend to have more weightage.
The lifestyle Industry has the greatest number of influencers – Is it any surprise that lifestyle has the greatest number of influencers? It is probably the nature of the industry that attracts the most number of influencers. People are influenced by the lifestyle choices of others, and this is probably why this segment is teeming with influencer marketing.
Social Commerce will shape influencer marketing in 2022 – Did you know that social commerce will hit $958 billion in sales in 2022 and is poised to grow to $2.9 trillion by 2026? Influencer marketing has been and will continue to play a major role here. This will offer great shopping experiences as you can complete your transactions without leaving the app. Influencers are more likely to engage in live streaming events in 2022, and this trend is expected to pick up. Live shopping experiences are expected to create more intimate experiences for the audience and build a better rapport.
Brand Ambassadors will dominate the space – Brands may choose to tie up with a single influencer to promote their brand on different platforms to maintain consistency. Brand ambassadors who relate to the brand and can promote its cause can play a big role in influencing audiences on various platforms on a long-term basis.
Diversity, Equality and Inclusion will have a role to play – As with every other field, diversity, equality, and inclusion will have a role to play in influencer marketing in 2022. These will be taken into consideration while appointing influencers to create a uniform playing field.
Augmented Reality expected to be a game changer – Augmented reality is being used in various fields like gaming, navigation and education. It is expected that it will play a big role in shaping retail shopping experiences as it allows customers to try on clothes or make-up online. Influencers will soon find a way to incorporate AR into their brand promotion strategy.
40% of Twitter Users purchased due to an Influencer tweet – This is a result presented by research conducted by USP Solutions. Over 40% of Twitter users have made a purchase based on tweets by an influencer. The purchase intent goes up multiple times when the user is exposed to tweets by the brand and influencers. This goes to show how much power Twitter influencers wield on the purchase decisions of their followers.
Younger users are more likely to evaluate social media presence – As compared to the older generation, the young users in the 13-24 years bracket are more likely to measure an influencer by the number of followers they have on social media.
In Conclusion –
It is clear that influencers have a crucial role to play in raising awareness about brands, offerings and causes. Addiction to social media ensures that people are highly influenced by what others are saying or doing and the choices they make. Given this background, it is imperative that a robust digital marketing strategy includes influencer marketing in the mix. It is critical that brands and their social media marketing agencies keep track of the latest trends and throw influencer marketing into the mix to get the best bargain for the buck.
Team Pumpkin is a 360-degree digital marketing agency that covers the entire gamut of digital marketing tools and services. It has a rich list of clients in diverse industries and a well-equipped team to service them. You can check them out if you are looking to take your business to the next level.