Influencer marketing is becoming a larger part of marketing budgets, with the majority of brands participating in influencer marketing, according to research company eMarketer.
In fact, 65% of brands implement some form of influencer marketing, and 25% of those brands have influencer marketing budgets over $500,000 annually, according to The Shelf.
That’s likely because influencer marketing has proven to be an incredibly valuable tool for brands. Just consider these stats:
- 92% of consumers look to people they know for referrals more than any other source (TapInfluence & Influitive)
- Sharing content through influencers increases conversion by at least a 3x to 10x higher rate (The Shelf)
- 70% of companies using influence marketing earn at least $2 or more for every $1 spent (Tomoson)
Here are three examples of how brands are taking advantage of influencer marketing to drive sales:
- Marriott sent Snapchat star Shaun McBride to Bangkok, encouraging him to send snaps to his hundreds of thousands of followers at each tourist stop, AdAge reported earlier this year. All they asked of him was to give the hotel brand a shout-out at the end of the day for letting him stay at Marriott hotels for free.
- Walgreens needed to get the word out to African-American women that it had started carrying ethnic haircare brand Motions. So it partnered with startup TapInfluence to engage 30 influencers with a total reach of 800,000 people on across blogs, Facebook and Twitter. Walgreens was ultimately able to generate over 200 pieces of content on social media with an ROI of over 1200%.
- Ahead of the Summer Solstice on June 21, Nestlé tapped startup Izea to find and hire a handful of influential Periscope personalities to broadcast summertime scenes — like backyards and theme parks — for its Drumstick ice cream brand, AdWeek recently reported.