In the last few years, the stratospheric rise of influencer marketing has been incredibly astonishing.
It has grown into a multi-billion dollar influencer marketing industry!
You can thank social media’s integral role in our lives for this massive explosion.
Influencer marketing growth graph is climbing high. After all, don’t you turn to your Twitter personalities, Instagram models and YouTube stars for recommendations and advice?
These influencers have become an important part of your life and marketers cannot, but pay attention!
A blog published by a leading Digital Marketing company in Kolkata stated that working with social media influencers offers brands a better user engagement and more personal interaction with customers.
But, are you still not sure if influencer marketing works?
Take a look below at some of the influencer marketing statistics 2020 through this demographic.
1. Social media is used by 86% women for purchasing advice
Seems like you have to be on social media to reach out and connect with more women.
45% more women are active on social media today, and this means that you need social media to make women buy your products or services.
A survey revealed that 53% of women made purchases thanks to influencer posts and the most popular platforms are Instagram and Facebook.
2. 70% teens put their trust on influencers
The days of blindly trusting traditional celebrities are gone! Experts say endorsing or marketing with celebrities from movies, music, sports or other industries are not as influential as they used to be.
Millennials trust YouTube stars and Instagram models more than traditional celebrities today.
So, if you want to reach out to the teens, consider the value of influencer marketing.
3. Influencer marketing industry projected to be $6.5 billion
Influencer marketing is showing an upward trajectory.
As per influencer marketing report 2020, the industry is expected to be a $6.5 billion industry.
This would be an increase of almost 2 billion since 2018.
4. Instagram used by 78% of influencers for brand collaborations
Influencer marketing trends 2020 show that Instagram is the leading platform used by 78% of social influencers.
This platform is user-friendly and one can easily get a hang of it. This is one of the reason number of influencers on instagram rising continuously.
Also, you can improve your pictures significantly by using the several filters available on the platform.
5. 4% used YouTube as primary social media platform
From travel to beauty, statistics says that vloggers are considered to be the biggest influencers in the market.
However, YouTube requires a bit of technical skill and compared to Instagram, it is not easy to use.
This is why 4% of social influencers are using YouTube as their main social media platform.
6. Influencer recommendations are trusted by 49% of consumers
One interesting fact that we can find in social media influencer statistics that 49% of consumers trusting influencer recommendations show the growing importance of social media influences.
Not just that, statistics on social media influencers says that 40% of them have also bought something after seeing it on YouTube, Instagram or Twitter.
7. Influencer marketing is the fastest-growing method of online customer-acquisition
More and more brands are becoming a part of the influencer marketing bandwagon and with good reason.
It has become important for brands to create campaigns that are aligned to meet the values of the influencer’s followers.
Moreover, 22% marketers prefer to spend on influencer marketing as in their opinion that influencer marketing is the most pocket-friendly way to get new customers.
8. $10 billion by 2020
Yes, that’s right.
The as per influencer marketing stats of 2020, influencer marketing industry is projected to become a $10 billion dollar industry in 2020.
This will be a huge jump from the $6.5 billion projections of 2020.
9. 57% beauty and fashion brands are using influencer marketing
Organic growth for brands has become a real challenge, which has pushed the beauty and fashion companies to heavily depend on influencer marketing.
In fact, about 57% of brands in this sector are making use of influencer marketing as a part of their marketing mix.
10. Instagram influencer market is worth $1.7 billion in 2020
The popularity of Instagram is phenomenal!
The Instagram influencer market is estimated to be worth $1.7 billion in 2020.
This number is only increasing and projected to be worth $2.3 billion in 2020.
11. Influential platform is Facebook
Did you know that Facebook boasts of 2 billion monthly users across the globe?
With that whopping number of users, Facebook is undoubtedly the most influential platform.
In fact, 19% of buying decisions are influenced by this platform.
If you want to know influencers advice on Facebook Marketing Trends,So read our Blog Top 10 Influencers on Facebook Marketing Trends
So, these are some of the key statistics and facts in influencer marketing report 2020.
Have you joined the influencer marketing party yet? It’s high time that you do!
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