2018 was undoubtedly the year of influencer marketing. Brands from Microsoft to Mercedes Benz implemented influencers by the dozens to spread brand awareness and drive sales.
This trend won't slow down in 2019 —quite the opposite. Influencer marketing is set to be a $10 billion dollar industry in just five years.
So, how does influencer marketing work? How can your brand implement influencer marketing? What are the best practices, and what to avoid? We answer in this status report.
2. What is Influencer
Marketing?
Definition from Forbes:
“Influencer marketing is the process of
leveraging an existing social media
influencer by having them endorse your
brand, support your content, or co-create
content with you and your brand.”
3. Who is an Influencer
Definition:
An influencer is a person that is able
to influence the perception of others
or gets them to do something
different by distributing a meaningful
message
4. Tiers of Influencers
Bobby Berk
1.5M Followers
Celebrity
1,000,000+
Popularity Extends Past
Social Reach
Em Henderson
732K Followers
Top Tier
500,000 - 1,000,000
Connected to Media
Multi-Channel
The Shine Project
210K Followers
Influencer
100,000 - 500,000
Established
Ambassador Potential
Love and LaRock
94.8K Followers
Micro
50,000 - 100,000
Engaging
Niche Audience
Restoring Home
32.9K Followers
Future
5,000 - 50,000
Power User
Brand Hungry
Awareness Engagement
5. Why Influencer Marketing Works
1. Consumers trust peers more than they trust brands
● 82% of people in the US trust recommendations from people they
know
● 66% trust recommendations from opinions posted by consumers
online
2. Everyone has their own story about a product/brand
● Influencer marketing allows for different stories to reach the
same target market
3. Create cheaper, faster content
● Influencers can create multiple pieces of content for a brand at a
fraction of the cost and time
● Example: Bubbies monthly content typically costs $2000 for ~10
new pieces of content
●
6. 1890-1930
The early days of
marketing saw usage
of “influencers”: Aunt
Jemima, Coca-Cola’s
Santa.
1930-1970
Brands began creating
characters and using
celebrities to help sell a
lifestyle rather than a
product.
2000
The emergence of the
Internet allowed for
everyday bloggers to
begin sending messages to
a large number of people.
2014-2016
Brands begin employing small
celebrities with large followings
to promote their brand on
Instagram. It all begin with
“fitness tea” and teeth
whitening kits.
2018
75% of brands use
influencer
marketing.
Evolution of Influencer Marketing
7. The Future of Influencer
Marketing:
Influencer marketing is forecasted to be a $10
billion industry by 2020.
● 30% of consumers are expected to begin using
ad-blockers by 2019; marketers must find a way to
reach consumers organically.
● 75% of marketers use influencer marketing in 2018.
● 92% of these marketers believed the influencer
marketing they implemented helped them reach a
larger audience and drive sales.
● 43% of marketers are planning on increasing their
spend in the next year.
8. Influencer Marketing Best Practices
Brands Must:
1. Choose authentic, compelling influencers
2. Choose influencers with followings that align with target
audience
3. Educate influencers completely on deliverables
4. Maintain relationships with influencers
5. Have a dedicated influencer marketing manager