Influencer Marketing Generates $6.50 for Every $1 Spent: Word of Mouth Taken to the Next Level
Trends come and go, with a select few sticking around. There were those that were skeptical of influencer marketing. After all, celebrities and athletes don’t always sell products as well as brands would hope, so how could social media users beat out actual influencers? Alas, influencer marketing has taken off and is proving to be wildly successful across various niche markets. From superstars to micro-influencers, brands are finding strength in having their products shared in these new, innovative ways.
If influencer marketing is new to you, allow us to explain the process. Similar to brand ambassadors, influencer marketing takes social media influencers and connects them with brands. If the influencer likes the products and the brand, they create a comprehensive campaign to share a unique story about the brand. Where brand ambassador programs often end up losing steam, influencer marketing needs authentic, engaging, and creative content in order to be successful. The influencer must believe in the product, the brand, have a social media reach or influence, and must be strategic in creating a series of posts that not only highlight the brand or product, but that tells a story. When done correctly, influencer marketing almost always creates a return on investment for the brand.
For those that prefer concrete evidence that a trend is here to stay, here are some statistics about influencer marketing and its rapid rise to popularity.
- 92% of customers turn to people they know for brand referrals above any other source. (Source)
- Word of mouth generates 2 times the sales of paid advertising. (Source)
- On average, businesses make $6.50 for every dollar invested in influencer marketing. (Source)
- 22% of major businesses acquire their customers through influencer marketing. (Source)
- Teens are more likely to trust their favorite YouTube stars over their favorite celebrities. (Source)
- 92% of customers trust recommendations from individuals (even if they don’t know them) over brands. (Source)
- 74% of consumers use social media to make purchase decisions. (Source)
- There is a 37% better customer retention rate reported for customers who are acquired through word-of-mouth advertising. (Source)
- 8 out of 10 of the most influential personalities among teens are YouTube stars. (Source)
- 88% of people trust online reviews written by other consumers as much as they trust recommendations from personal contacts. (Source)
- 22% of customers are acquired through influencer marketing for brands that utilize it. (Source)
- 2.3 billion people use social media worldwide. (Source)
- Influencer marketing is one of the most cost effective channels. (Source)
- 51% of marketers believe the customers they acquire through influencer marketing are more engaged and loyal than through other platforms. (Source).
When working with Heels Down Media, The Scope Network acts liaison between brands and our social media influencers. The Scope Network is a network of carefully selected, elite social media influencers who create content on their own channels for the brand partners of Heels Down Media. The Heels Down Media social media influencers are experts at creating engagement and have over 180,000 followers across their social media platforms. This vast network is made up of an engaged audience that is ready to hear about brands from the social media influencers they trust. If you’d like to expand your brand’s reach, contact us today at hello(at)heelsdownmedia.com!