The State of Influencer Marketing: What Every Brand Needs to Know [Infographic]

10 The State of İnfluencer Marketing: What Every Brand Needs to Know by O @MDGadvertising For many brands, online influencer marketing remains an enigma: there are plenty of broad declarations about its future promise but few specifics on its present state. Often it's hard to determine how popular the approach is with other brands, which tactics and social platforms are working, what influencers are charging, and how success is being measured. So, what are the answers? Which key data points about influencer marketing should every brand know? Here's what the most recent research and analyst reports tell us: The Maturity of Programs and Budget Plans How popular is influencer marketing? Very. It's estimated that brands are already spending more than HALF A BILLION DOLLARS on Instagram campaigns alone. Two-thirds of businesses say they're running some sort of online influencer program. However, the sophistication of these engagements varies widely. Maturity of Brands' Influencer Programs 48% 28% 24% are experimenting with influencer are running individual have implemented ongoing programs marketing campaigns In terms of budget, nearly half of all brands plan to increase their influencer spend in the future. Brands' Influencer Marketing Budget Plans 48% plan to increase spend (?) 25% 23% are unsure about their plan to keep spend the 4% plans plan to decrease same spend The takeaway here is that online influencer marketing is already big and set to grow quickly. That said, most brands are still in the experimentation phase with the tactic. The Biggest Benefits and Challenges Why are brands engaging in influencer marketing? The core motivations fall into two buckets: +) to reach specific/new audiences and to get fresh content from sources consumers trust. Why Brands Say They Engage in Influencer Marketing To spark word-of-mouth For more organic reach To create quality content For authenticity/ trusted voices To drive engagement To reach relevant audiences While there are major advantages to influencer marketing, brands soy there are also a number of key ways in which the approach could be improved. What Brands Want Improved with Influencer Marketing Better ROI Enhanced measurement reporting of results Streamlined vetting Improved influencer tracking RRR of influencers Easier influencer (e discovery tracking Simplified influencer management Essentially, brands see major benefits from influencer marketing (audience engagement, content creation, etc.) but want the mechanics (measurement, management, etc.) to develop. The Most Effective Tactics and Approaches Which influencer marketing tactics work well? Generally, brands say they're seeing the best results from long-term engagements such as brand ambassadorships rather than one-offs. Most Effective Influencer Marketing Tactics 1. Ongoing ambassadorships 2. Product 3. Brand reviews mentions 4. Event coverage 5. Sponsored content Marketers say the most effective content comes from credible, experienced influencers. What Makes Influencer Posts Effective? The credibility of the influencer The influencer's expertise in the product/service category | Whether the 2 influencer has used How much detail the the product/service influencer provides in their posts While big celebrity influencers moy get most of the attention, the learning here is that truly effective campaigns tend to be ongoing and involve vertical-specific experts. The Top Social Networks for Influencer Marketing Which social networks are brands running their influencer campaigns on? The most popular platforms are Facebook-owned Instogram and Facebook itself. Top Social Networks with Brands 1. Instagram 3. Twitter 4. YouTube 5. Snapchat 2. Facebook When asked which social networks are their top platforms for engagement, influencers mainly echo brands' favorites: The Top Social Networks with Influencers 1. 3. Instagram YouTube 4. Snapchat 5. 2. Twitter Facebook The major difference between these two lists is Twitter. The network remains popular with brands for influencer campaigns but has somewhat fallen out of favor with influencers themselves. The Costs of Programs and Payment Structures How are brands compensating influencers? The most popular method is to pay per post/campaign, though some marketers are now paying based on engagement. Payment Models Most Used by Brands 金 2$ Free products, services, or experiences Cost per Pay per post/campaign engagement As for cost, it dependson the specific influencer and industry. Average Cost Per Influencer Instagram Post Pricing varies significantly by vertical. Modeling influencer: Music influencer: $434 $201 per post per post .and by audience size Influencer with Influencer with under 100k+ followers: 1,000 followers: $763 $82 TTTTT per post per post Essentially, brands see major benefits from influencer marketing (audience engagement, content creation, etc.) but want the mechanics (measurement, management, etc.) to develop. The Most-Used and Most-Valued Metrics Finally, how are brands measuring success? Currently, the most-used metrics are the ones such as engagement and traffic. The Most-Used Influencer Metrics by Brands 3. Reach 2. Traffic 4. Sales $. 1. Engagement (O 5. Sentiment However, the most-valued metrics by brands are not the same as the most-used ones: The Most-Valued Influencer Metrics by Brands 3. Share-of-voice 2. Sentiment 4. Reach 1. Impressions (O 5. Troffic Right now, brands are relying on metrics they can easily access, such as engagement. What they really want, though, are metrics that more accurately show audience reach and reaction. Ultimately, that trend with measurement echoes the general state of influencer marketing today: brands are already engaging in certain ways, but those approaches are likely to change rapidly as the field matures in the coming years. mdg Sourcos: Altimeter Group Chute, eMorketer, Hoshoff, Influence.co, IZEA, Lingio, Toplnfluence, Thuzio 360 mdgadvortising.com Twittor: @MDGodvortising ---------. .........