Social Influencing in digital marketing has been booming in recent times. Lately, it’s something more and more businesses are jumping on the bandwagon with. It undoubtedly has been a buzzword for the last couple of years.
Social influencing is when an individual promotes a brand or product on social media. This could be done by reviewing the brand, telling their users how great it is, or simply showing off how they use the product themselves.
Influencers tend to have a significant following on social media. They could be celebrities, bloggers, vloggers, sports stars, models, journalists, public figures etc. They even could just be someone with a decent amount followers, also known as micro influencers.
Businesses will pay these people crazy amounts of cash to get their brand, website, service or product out there.
You will often see this method of marketing in the fashion and retail industry. In fact, 60% of marketers in fashion use influence marketing as a key source of sales. A further 21% plan to use it within the next 12 months.
Influence marketing has been around for hundreds of years. Some research even shows that it was happening with some actors in ancient Greece, 300 B.C.
The sudden growth of influence marketing is incredible. As you can see below… Influencer marketing is growing, and growing fast!
In 2017, the search term “influencer marketing” has tripled compared to 2016.
There are now over 420 influence marketing agencies and platforms, compared to the 190 in 2015.
There are likely to be tons of explanations, but here are some of the key ones:
Ad blockers are killing display marketing, 30% of users now have ad blockers installed.
People trust people, only 14% of consumers recognise that influence marketing are actually adverts. 75% of users look to social media for guidance on product purchase. And 49% of users will listen to their favourite influencer for suggestions.
Social media is growing. In the last three years, Facebook has seen a 14% rise in active members,
Snapchat has 178 million daily users, and Instagram has gone from 300 million active users to 700 million!
Saving the best for last… The average influencer return on investment is a whopping 560% according to Influencer Marketing Hub. BOOM!
With the sudden growth in the need for this source of digital marketing, do you have a budget for influencing?