If you’re thinking about getting into influencer marketing — either as a content creator or a brand who partners with them — you’ve probably already heard that it can be an incredibly effective marketing tool. But does influencer marketing work?
If you’re not a famous athlete, supermodel or a Kardashian (or partnering with them), is there money to be made from it?
The answer is an astounding “yes.” Just check out some of these influencer marketing statistics:
52% of creators make a respectable income working part-time
In a recent Linktree survey of creators, just over half who make between $50K and $100K annually report spending less than 10 hours a week on content creation. Not a bad haul for a part-time gig.
In that same survey, nearly half (48%) of those who make $100K to $500K a year spent more than 10 hours a week on content creation.
It’s safe to say that results will vary based on the quality of an influencer’s content, their niche, and how well they market themselves. But overall, there’s plenty of proof that influencer marketing works well enough for many content creators to pay their bills.
Niche creators earn more of their revenue from influencer marketing
If you represent a brand who is researching potential partnerships with content creators, don’t overlook niche influencers. Compared to non-niche creators, those who cater to a specialized segment of the market actually earn 14% of their revenue (compared to just 9% from non-niche creators) from influencer marketing.
From a brand perspective, it’s also important to know that more companies are investing in nano- and micro-influencers instead of big-name influencers. Research suggests 14% of a brand’s influencer marketing budget will go to these influencer segments by 2024.
36% of consumers say the only way they’ll try a new product is if it’s endorsed by an influencer
Everyone follows influencers. In fact, research shows 92% of consumers have a list of content creators they follow. When an influencer speaks, their audience listens.
Right now, 36% of consumers discover and try new products solely through influencer marketing. With the rise of these subtle endorsements, experts believe this trend will only increase.
When skin-care brand Olay launched its “28 Day Challenge,” it partnered with social media influencers, including Jennifer Oni, who used the company’s products and documented their experiences throughout the process. Not only did the brand earn a 20% gain in engagement, but it also saw a 22% jump in monthly Google searches throughout the month.
Most campaigns see a high return on your investment. Well-executed and represented influencer marketing 2022 campaigns can generate even more than $6.50 per dollar spent.
When Mayvenn wanted to promote its line of sew-in natural hair products, IZEA helped the brand find influencers to endorse the company’s flagship item. The campaign helped them achieve a high ROI, along with 3.5M impressions, 362K engagements, and 23K clicks.
86% of women use social media for purchasing advice
More than half of women control their household’s finances. Pair that with the statistic that 86% of women use social media for purchasing advice and you can see why influencer marketing could be incredibly beneficial.
It’s something that U.K.-based grocery chain Iceland Foods took into consideration when its approval ratings tanked to 10%.
When celebrity campaigns proved to be fruitless, the brand turned to 50 “mommy influencers.” After enlisting the help of 50 micro-influencers to create video content on Facebook and YouTube, the brand’s approval rating jumped to 80%.
The future of influencer marketing is bright. More and more brands are turning to niche influencer to reach specific audiences given privacy law changes. Consider a campaign through an influencer marketing platform like IZEA’s so you’ll have the support and tools you need to take a project from concept to completion.
Influencers:
Looking to partner with industry-leading brands? Create your free profile today.
Marketers:
The world’s biggest brands trust IZEA’s influencer marketing software and managed solutions. Find out which solution is right for you.
