Influencer marketing has grown to a $16.4 billion industry as of 2022. But how has consumer sentiment changed towards this form of digital marketing since its inception?
Throughout 2022, we reached out to our community, asking them to participate in a survey about influencer marketing. They answered questions about how they interact with content creators and influencer marketing campaigns, with results that did not disappoint.
Here is a breakdown of the results, which brands and marketers can leverage in order to make more informed influencer marketing decisions in 2023.
The average person spends two and a half hours a day on social media. With a wide variety of content to interact with at their fingertips, this is not surprising. Combined with the knowledge that 52% of social media users interact with influencer content on a daily basis, this means that the likelihood of your brand getting in front of the right audiences with the help of influencer marketing is high.
It’s no question that influencer marketing works, and these statistics prove it. Influencers are a trusted source of information for many consumers that use social media platforms like TikTok or Instagram as top-of-the-funnel shopping channels. Partnering with content creators who have genuine and engaged audiences is a sure-fire way to ensure you generate sales.
In recent years, we’ve seen influencer marketing strategies evolve from single sponsored posts to a more integrated approach. Influencers who work with brands on an ongoing basis are perceived to build a stronger level of trust than those who only share one-off posts. If an influencer likes a brand enough to work with them multiple times, it legitimizes the product or service they are offering, converting more customers.
There is a negligible difference between people being more inclined to purchase through an influencer or a brand. The key difference is that brands are promoting their products year-round through multiple channels, whereas an influencer is likely promoting a product one to two times. The rule of seven states that consumers need to see something seven times before converting, which is why brands may be more successful, unless the influencer is an ambassador working with the brand on an ongoing basis.
In terms of size, influencers can be divided into four main categories: mega-influencers, macro-influencers, micro-influencers and nano-influencers. Each category has its own strengths, and understanding their best applications will ensure your next influencer marketing campaign a success. With micro-influencers taking the lead, macro-influencers (100K-1M followers) are seen as the second most trustworthy, with 24% of respondents choosing them.