Chances are that nowadays you are hearing a lot about how influencer marketing is the new king of content marketing and a powerful form of word of mouth marketing and how it is cost-effective than any other form of marketing. To understand why it is important, today we look at the data from some of the best marketing research firm that highlights why every business need to assign marketing budget for influencer marketing:
- 74% of consumers rely on social media to inform their purchasing decisions.
- 90% of consumers trust peer recommendations. Only 33% trust ads.
- Customers referred by other customers have a 37% higher retention rate.
- Marketing-induced consumer-to-consumer word of mouth generates more than 2X the sales of paid advertising.
- Another study by BazaarVoice 2012 found that earned media drives 4 times the brand lift of paid. media and 51% of Millennials are more likely to be influenced by earned media.
- Technorati determined that 54% of consumers agree that the smaller the community, the greater the influence.
- According to a study by ArCompanyand Sensei Marketing, 64.5% of marketing and PR. professionals have adopted social influence campaigns in the past, more than 50% of marketing and PR professionals will be allocating budgets for influencer marketing strategies in the near future, and 74% of marketing and PR professionals will be deploying influencer marketing campaigns in the next 12 months.
- Knowledge Networks determined that 15,100,000 consumers go to social media channels before making purchase decisions.
- Mashable reported that millennials trust content created by their peers 50 percent more than content from any other media.
- According to a recent SocialChorus report, influencer marketing campaigns drive 16x more engagement than paid or owned media.
- 72% say reading a positive customer reviews increase their trust in the business; it takes reading between 2-6 reviews to get 56% of them to this point.
- Over half of purchases inspired by social media sharing occur within 1 week of sharing or favoriting, and 80% of purchases resulting from social media shares occur within 3 weeks of sharing.
- Brand advocates are 70% more likely to be seen as a good source of information by people around them.
- Advocates tell twice as many people about their purchases than non-Advocates.
- 90% of advocates write something positive about their purchasing experience.
- Brand advocates are 75% more likely to share product information.
- 74% of global marketers reported they will use Influence Marketing as part of their marketing strategy in the next 12 months.
- 55% of global marketers found social scoring platforms to be ineffective at identifying influencers.
- 68% of global marketers see Influence Marketing as a lead generation and customer acquisition tactic.
- For category such as Apparel, packaged goods, financial products, and big-ticket purchases (such as travel and electronics). Word-of-mouth emerged as the leading purchase influencer among Millennials.
- Among Baby Boomers, word-of-mouth (WOM) is the top influencer for financial products and big-ticket purchases but was only third for packaged goods purchases.
- A study conducted by Market share proved that WOM increased marketing effectiveness up to 54%.
- An astonishing 91% of B2B purchasers said that their buying decisions were influenced by WOM, making this form of engagement vital for all organizations no matter their market sector to get right.
Influencer marketing is the most powerful word of mouth marketing which will help your business to gain more credibility, reach out to a wider audience and increase sales. The challenge here is how to connect with right influencers who will help you in your business to reach a new level.
Join adsparta.in to connect with some of the best influencers in your industry.