It’s no secret, influencers sell. The e-commerce influencer market is on the rise, and the results are undeniable.
When it comes to influencer product marketing, 17% of companies are dedicating half their marketing budget to it. This type of marketing spend focuses on increasing brand awareness and conversions. Which makes sense when 89% of ROI from e-commerce influencer marketing is better than other marketing channels altogether.
If you’re in the business of selling products, influencer marketing is an avenue you need to consider. Let’s take a look at the reasons so many brands are handing their budget over to influencers.
Teens Trust Influencers More Than Anyone Else
Teens are savvy shoppers. They can tell when something isn’t authentic immediately. Moreover, a recent survey found that 4 in 10 millennials believe their favorite influencer knows them better than anyone else.
Even more than celebrities and their friends. So, it’s a big deal when an influencer suggests a product. It’s one of the reasons e-commerce influencer marketing has such a lasting impact.
Influencer Marketing Sees Big Growth
It’s clear that Influencer marketing isn’t slowing down. All you have to do is follow the hashtag #ad to recognize that.
Back in 2017, there were over 1.5 million Instagram posts tagged with #ad. Furthermore, those posts received over 1 billion likes.
Considering how much things have grown in the last two years, it’s safe to say the influencer market is bigger than ever.
Influencers Can Be Budget-Friendly
Depending on their reach and the time required for the partnership, influencers can be a budget-friendly way to tap into a huge audience.
84% of micro-influencers charge around $250 or less than $500 per branded post, according to a study from the Influencer MarketingHub.
That means a micro-influencer could put your brand in front of 200k people for less than $500. In the past, there hasn’t been an advertising or marketing avenue that affordable for such a wide audience.
To make marketing dollars go further, e-commerce influencer marketing may be your ticket.
High Conversions = More Brand Awareness
It is still difficult to get a full understanding of ROI when it comes to e-commerce influencer marketing, but there’s no doubt that it’s effective. The same survey from the Influencer Marketing Hub suggests that for every $1 spend on influencer marketing, a brand earns $5.20 in media value.
While this amount may not always be in revenue, building brand awareness any other way can be pricy. Influencer marketing makes it possible to reach a broad audience with limited means.
A Wide Reach
Instagram has over 1 Billion users and only continues to grow. By and large, it’s looked at as one of the most important social media channels out there.
With so many people on the platform, it’s easy to tap into niche markets where customers might be hidden. Influencers, due to their authenticity, interaction, and distinct point of view are helping brands achieve this like never before.
Whatever your goals are when it comes to e-commerce influencer marketing, chances are it’s an avenue that will see results.
