Influencer marketing effective?

Key Takeaways:

  • 86% of marketers used influencer marketing in 2017, 92% of whom found it effective.
  • 39% of marketers surveyed plan to increase their influencer marketing budget in 2018.

  • 76% of marketers cite measuring the ROI of influencer marketing as their top challenge for 2018

I’m always skeptical when a company that specializes in influencer marketing releases a report about the value of influencer marketing.  According to a report influencers and digital content creators are a growing area of interest for marketers, and the new Fullscreen and Shareablee research points to a sweet spot businesses should look for when picking their partners.  The report further states:

  • Content creators who are either “digital trailblazers” with 1 million to 19.9 million social media followers or “emerging voices and rising stars” with 250,000 to 999,000 followers outperform both celebrities — those with 20 million or more followers — and microinfluencers — individuals with less than 250,000 followers — according to new research by Fullscreen and Shareablee made available to Marketing Dive.

  • Engagement levels were 0.66% for digital trailblazers and 0.60% for emerging voices compared to 0.40% for celebrities and 0.35% for microinfluencers, the groups said. The survey of 1,200 Millennials and Gen Zers age 18-34 also found that 38% of those engaging with influencers trust what influencers say about a brand over what a brand says about itself. Trailblazers had the highest level of trust at 45%. Digital creators overall were found to be more trusted than celebrities with 32.4% trusting trailblazers, specifically, because they resemble their friends.

 

  • [inlinetweet prefix=”” tweeter=”” suffix=””]Forty-two percent of respondents reported trying a product recommended by an influencer,[/inlinetweet] and 26% said they purchased a product based on a recommendation. Among those who engage with microinfluencers, 45% were more likely to try something recommended, while those who engage with digital trailblazers were more likely to purchase at 30%. Users who engage with celebrities were the least likely to try something recommended by the influencer or to purchase.

So lets think this through…

1ne: Cosumers, in general, are less likely to believe marketers’ claims/ads for some products, but not for a LOT of product as some reviews are a matter of personal taste.

2wo: Product reviews, on sites like Amazon, do have a lot of clout and can either make or break your product.

3hree: Influencers are often brand advocates.  For example, I consider myself a brand advocate for Subaru and Trek Bikes.

4our: Do brands really have the resources to reach out to influencers?

I have worked with a number of CPG clients who have reached out to influencers on sites like Instagram with very limited success, however some fashion brands can find success but don’t expect a cult following for frozen pizza.

In my opinion influencers are a part of an integrated brand strategy, but please be realistic about expectations and question ALL research from a vendor whose in the business.