We love numbers and statistics, especially when we’re talking about something as seeming nebulous as influence. How do you measure influence? More importantly, how do you determine how it helps your brand? Is Influencer Marketing really making a difference? We’ve shared a wealth of statistics with you before, and we think it’s clear that Influencer Marketing is a strategy that you can’t afford to ignore. But if you still aren’t confident that it makes sense for you, the data revealed in Tomoson’s recent Influencer Marketing Study just may convince you.
$6.50 for Every $1 Spent
Influencer Marketing offers returns well beyond the monetary – increased visibility, improved perception, strengthened loyalty are just a few – but of course, marketers can’t help but look at the bottom line: does it make us more money? According to Tomoson’s poll, the answer is yes. According to its survey, 83% of the brands surveyed reported a positive financial return on their investments – 70% say they earned at least $2 per dollar spent, while 13% report returns as high as $20 on the dollar. Those numbers are staggering, and make it hard to deny that Influencer Marketing can deliver tangible rewards to brands.
Influencers from Influencers
More than half of those surveyed feel that the quality of customers that they earn through Influencer Marketing efforts is better than those they earn through other strategies. Because Influencer Marketing reaches customers are typically social media users themselves, they’re more likely to spread the word organically, and often spend more than customers attained through other methods. Not only does this mean a better quality customer overall, it also translates into organic Influencer Marketing benefits that can continue even after your campaign ends.
Influencer Marketing on the Rise
With such a clear case for a measurable ROI from Influencer Marketing, it’s no surprise that brands indicate that they expect to ramp up their Influencer Marketing efforts this year. Influencer Marketing showed the greatest growth – 22% – outstripping every other form of online marketing in terms of growth. And the growth hasn’t stopped: 59% of those surveyed indicated that they plan to increase spending on Influencer Marketing strategies in the next year. With a potential to earn at at least $2 for every dollar spent, who can blame them?
It’s becoming clear that Influencer Marketing is more than just a passing phase in the Digital Marketing sphere – it’s a new paradigm for how brands reach out to their customers and build loyalty. If you haven’t launched your own Influencer Marketing campaign, now is a great time to get started.