Connect with us

Business

Influencer Marketing Statistics To Boost Your Brand’s Popularity

Published

on

As social media influencers grow more prominent, businesses are on the lookout for influencers that would best represent their brands. In our digital generation, social media holds power in guiding the consumer’s attention to your brand. According to Chief Marketer, 86% of respondents hire influencers to improve their brand awareness. Here are 80 influencer marketing statistics to help your brand. 

Mega, Macro, Micro, Nano

Before we proceed to our influencer marketing statistics, let’s define the influencer categories that have taken shape throughout the years: 

  1. Mega-Influencer

Amongst social media influencers, this type of category holds the top spot. Typically, mega-influencers have more than one million social media followers. 

Follower Type: Diverse

Influencer Example: A-list or B-list celebrities

  1. Macro-Influencer

The key identifier for macro-influencers is their follower count. Typically, their number of followers ranges from 100,000 to 1 million. 

Follower Type: Targets specific demographics (young females, etc.) 

Influencer Example: Vloggers, Internet Famous Users, Content Creators

  1. Micro-Influencer

This influencer category has followers between 1,000 to 100,000 followers. On average, micro-influencers have a specific niche target. Compared to macro and mega, micro-influencers have a stronger relationship with their followers. 

Follower Type: Uniform or same interest followers. (Vegan living, business moms, etc.) 

Influencer Example: Topic specialist, industry expert

  1. Nano-Influencer

Nano-influencers have 1000 followers or less. This category of influencers is considered a new breed. On a positive note, it generates the highest level of engagement. However, the downside of nano-influencers is the limited reach of audiences.

Follower Type: Community, local neighborhood

Influencer Example: Local pastor, Community leader, etc. 

Influencer Marketing Statistics: Categories

Now, we’re aware of the different categories of social media influencers and their audience reach. It’s time to dive into the essential statistics that will help your brand’s decision:

Mega-Influencers

According to Influencer Marketing Hub’s research: 

  • Mega-influencers generate at least 1.21% engagement on Instagram.
  • Meanwhile, on Youtube, mega-influencers receive a 0.37% rate of follower engagement. 
  • On TikTok, mega-influencers have 5% social engagement with followers. 

Micro-Influencers

According to Influencer Marketing Hub’s research: 

  • According to statistics, micro-influencers boost more engagement rates compared to mega-influencers. 
  • Micro-influencers have an average engagement rate of 3.86 percent on Instagram. 
  • 77% of fashion micro-influencer prefer to use Instagram. 
  • Less than 10% paid for ads. 
  • This influencer category offers the best combination of engagement and broad reach. 

Meanwhile, according to other sources: 

  • Compared to an average consumer, micro-influencers have at least 22.2x more conversations weekly about great purchase recommendations (The Keller Fay Group).
  • At least 53% of micro-influencer never paid for post-promotion (Bloglovin). 

Influencer Marketing Statistics: Industry

  • As the influencer marketing industry rises, print advertisement decreases. 
  • As a whole, the influencer marketing industry is expected to be worth $13.8 billion this 2021 (Influencer Marketing Hub). 
  • In 2019, a total of 240 platforms and agencies focused on influencer marketing agencies appeared on the scene (Influencer Marketing Hub). 
  • The estimated number of influencer agencies and platforms reached 1360 (Influencer Marketing Hub). 
  • 90% of respondents believed influencer marketing is an effective strategy for marketing (Influencer Marketing Hub).
  • 50.87% of brands working with influencers have eCommerce stores.
  • Department stores are joining the influencer hype by partnering with fashion bloggers to promote their stores. 
  • According to 67% of marketing professionals, they engage with influencers to promote their content. 

Influencer’s Opinions

  • According to 69.4% of influencers, they chose this type of job to earn revenue.
  • Meanwhile, 54% of influencers are willing to work with a brand that respects them. 
  • In choosing which brand to partner with, content creators admit they determine which opportunities to choose depending on their audiences. Although earning revenue is essential, influencers value and curate what they show to their audiences. 

ROI, Conversion, and Sales

  • Surprisingly, 33% of brands don’t measure their influencer marketing ROI (Influencer Marketing Hub). 
  • On the other hand, 67% measures the ROI from their influencer campaigns. 
  • 38.5% of brands based their influencer marketing success on sales and conversion. 
  • Meanwhile, 32.5% of brands measure influencer success based on engagement and clicks. 
  • For every $1 spent on influencers, businesses gain $5.20.
  • Most marketing professionals (75%) say verified web traffic is the essential criteria in choosing an influencer. 
  • According to 89% of respondents, the ROI from influencer marketing is better than other strategies (MediaKix).

For some brands, working with influencers is not always smooth sailing. Here are some common problems brands always point out: 

  • Measuring ROI and campaign results pose a problem. 
  • Managing deadlines for campaigns and contracts have significant challenges. 
  • Some payments to influencers encounter processing difficulty. 
  • Other issues involve time restraints or bandwidth. 

Influencer Marketing Risks

  • 38% of brands claim to be a victim of influencer fraud (Influencer Marketing Hub).
  • Meanwhile, as influencer marketing’s popularity increases, 67% of brands are concerned about influencer fraud (Influencer Marketing Hub). 

Influencer Marketing Statistics: Budget

Despite the growing popularity of social media influencer marketing, some brands do not pay actual money. Here are different mode of payments by brands to influencers: 

  • 36% pays with free sample products
  • 21% admits only giving out a discount coupon
  • Only 32.4% pays influencers with actual money

Brand’s Budget for Influencer Marketing

  • This 2021, 75% of brands intend to dedicate a budget to influencer marketing (HubSpot). 
  • As influencer marketing’s popularity rises, 83% of brands decided to take their influencer spending budget from their marketing budget (Influencer Marketing Hub). 
  • In the following year, 63% of brands intend to increase their influencer marketing funds. 
  • 17% of brands are prepared to spend $500,000 or more on influencer marketing (Mediakix). 

Influencer Marketing Statistics: Social Media

Currently, a total of 42.7% of internet users installed ad blockers on devices. Most people hate ads as it tends to interrupt what they’re reading or watching, hence ad blocker use. This is a massive disadvantage for marketers as their content is blocked by at least half of the online population. 

It is one of the reasons why influencer marketing is growing in popularity. For successful influencer marketing, it’s vital to generate an organic engagement that does not look like ads. Besides, more than half of the younger generation uses social media as soon as they wake up each day. 

Internet users mostly encounter the content their favorite influencer posted rather than an ad. The best part? Consumers pay attention to the influencer’s content rather than a paid advertisement. 

Instagram

A total of 67% of brands use Instagram as their primary platform for influencer marketing. It’s understandable as the platform has more than 1 billion active monthly users. Also, Instagram stories became a vital tool for the success of influencer marketing. This platform gives a considerable advantage and high engagement to aesthetic fashion brands and accessories. 

TikTok

As TikTok rises in popularity, the percentage of brands who use TikTok for influencer marketing also increases.

Youtube

As the world’s second most visited platform, successful content creators on YouTube can earn millions from their videos. 70% of teenage subscribers admit they relate to Youtube creators more than celebrities. Meanwhile, 6 in 10 YouTube subscribers would follow purchase advice and trust reviews from their favorite content creator rather than a TV personality. 

Twitter

According to 40% of Twitter users, a Tweet from an influencer resulted in their purchase.

Blogs, Vlogs

According to 91% of millennials, online reviews from blogs or vlogs about a brand are trustworthy. After reading a positive review, 50% of consumers will likely take some action. In most cases, positive reviews encourage a purchase. Also, according to 98% of buyers, software reviews from blogs or vlogs influence their purchase. 

Other than that, most bloggers (68%) prefer to work with a brand instead of a network or agency. 

Snapchat

According to 4 in 10 users, they discover a brand thanks to celebrity endorsements on Snapchat. 

Campaigns 

  • 2020 marked the increase of influencer-related marketing campaigns. This significant growth is a result of the initial impact of COVID-19. 
  • Across different campaigns, it turns out 56% of brands use the same influencers. 
  • 67% of brands prefer a campaign-based relationship with influencer marketing. 
  • Meanwhile, 80% of brands admit to increasing their production of content. 

Searching for Relevant Influencers

  • For brands that run in-house ad campaigns, 34% of respondents admit that finding influencers is challenging. 
  • 61% of brands admit searching for relevant influencers is complicated and difficult (Mediakix). 

Conclusion

In the end, influencer marketing is indeed a powerful strategy for niche-specific brands. If you want to reach a more comprehensive set of audiences, you should consider searching for an influencer relevant to your brand.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Kuda Raises $55 Million Series B Funding Quicker Than Most Startups

Published

on

One of the most promising industries to launch a startup is in the digital banking or fintech sector. Untapped markets can become a goldmine for startups that aim to disrupt the banking infrastructure. And that’s what Kuda has experienced over the past couple of months. Read more about Kuda here and how they were able to raise millions for their Series B funding.

Kuda: An Overview

What sparked Babs Ogundeyi and Musty Mustapha to start Kuda? Excessive and inconsistent fees. Fueled to reduce that, they launched the fintech company to develop a savings app. Wanting to make banking easier and more accessible without any charges, the founders aim to change banking for Nigerians all over the world.

Series B Funding and Possible Kuda Expansion

Kuda raised $55M funding for Series B. For Kuda, this funding will be fundamental not only in the creation of new services on their savings app but also in launching it to Africans across the continent. Ogundeyi hopes that their app can become a widely used app for Africans globally. 

Expansion is vital for Ogundeyi and his team. He maintains that Nigeria is still a market crucial to their operations, but the funding will also go to expanding efforts.

Back in March 2021, Kuda raised $25M, all thanks to Valar Ventures. Back then, they had only 650K app users, but they doubled that number in August 2021, with registered users around 1.4 million.

This funding round is once again led by Valar Ventures. But Target Global and SBI have also played a role in helping the fintech startup raise $55 million. Target Global leader Ricardo Schäfer believes in the impact that Ogundeyi and Mustapha will have in Africa. But what excited him the most was the idea that 1 billion users would benefit from their app.

Faster Funding Rounds and Other Disruptors

It was surprising how quickly Kuda raised funding over the course of a few months, but it’s due to the current market conditions and the numbers presented to investors. A McKinsey report foresaw this growth, wherein digital financial services would become a major market. Plus, with inaccessibility, Kuda knew that they could change the way Africa could do digital banking.

Kuda isn’t the only fintech startup aiming to change the banking infrastructure in Africa. Other Fintechs changing the game are:

  • Airtel Africa
  • Chipper Cash
  • FairMoney

Meanwhile, here are the other fintech and banking companies also competing to stand out in the market:

  • Revolut and N26 (Europe)
  • WeBank (China)
  • Varo and Chime (U.S.)
  • Nubank (Brazil)

However, what makes Kuda stand out from the others is they have a banking license. With this in mind, they can develop services on their own. This will also help them create and develop other products and services and build credibility more than their competitors.

The Future of Kuda

Ogudenyi aims to launch their app to other African countries but won’t say where they’ll launch it. However, Kuda has an ongoing credit service (through an overdraft allowance) that proves the fintech startup is growing and moving forward.

He says that they do a pre-qualification screening for those who can receive credit. In the 2nd quarter of 2021, over 200,000 users were eligible. They gave over $200M in credit. And to ensure they remain with their purpose of creating their app, they do an allocation of overdraft proportion. It’s based on user activities, and they won’t overpay.

Due to Kuda’s promising mission towards banking in Africa, Valar Ventures seems eager to fund the fintech startup once more in the future. Andrew McCormack, a general partner of the investment firm, says that growth and population acceptance towards digital banking are factors in continuing their support.

Continue Reading

Business

Sam Adams Is Brewing Space Beer

Published

on

SpaceX’s Inspiration4 mission was a raving success with the safety of the amateur astronauts confirmed when they touched down this past weekend. The first all-civilian space flight was historic in and of itself, but they did more than just visit. The four civilians also performed scientific experiments, made art, and brought up to 66 pounds of hops. Sam Adams is going to brew that into our very first “space beer.” 

That’s right, space beer. While we’re probably a way off from a space brewery, we’re definitely heading there with hops having visited space. If you’re wondering what they did with the hops in space, you’re not alone.

Far as we can tell, these hops simply made a trip farther into the heavens than any other hops before them. One might imagine a brewer saying, “one small hop for man, one giant hop for mankind.” 

No? Too lame? Anyway…

Booze. In. Spaaace. 

Sam Adams has been in the news lately with their Utopias beer being so strong it’s illegal in 15 states. While we don’t know the strength of this future “space beer” just yet, one University of Colorado research project suggests that beer brewed in space is higher in alcohol than those brewed on Earth. 

This is not the first alcoholic experiment in the heavens. In 1994, Coors participated in a test fermentation in space. In 2006, Sapporo produced a $110 six-pack using barley seeds that made a trip to space. In 2019, Anheuser-Busch sent several barley samples to the International Space Station to determine the effects of microgravity on barley seeds. Also in 2019, 12 bottles of Bordeaux were sent into space, giving them a value of $1 million per bottle. 

Turns out, if we travel somewhere, we want to know if we can get drunk. Take a look at Everest. If we trek, we drink. 

It’s just human nature. 

Space Beer… For the Children

In order to secure the rights to these space hops, Sam Adams made a donation of $100,000 to St. Jude’s Children’s Research Hospital as part of the overall theme to Inspiration4’s mission. Isaacman, the mission leader of Inspiration4, is aiming to raise $200 million for St. Jude’s. Elon Musk has personally pledged $50 million to the hospital. 

By tossing some money to a good cause, Sam Adams is able to secure the rights to brew the first space beer from the world’s first all-civilian space flight. If the motivation to brew space beer is “for the children,” then we’re all about it. 

When Can We Drink This Space Beer?

Sam Adams’ future space beer has yet to be named. All we know now is that it will be a traditional West Coast IPA and will be on sale later this fall. Sam Adams has stated that it is excited to brew with the out-of-this-world hops. 

And why shouldn’t they be? Anything with a “genuine” space label should be exciting to produce. While they’re not the first brewery to experiment with space booze, Sam Adams is the latest and therefore the hottest. With our attention spans lately, it pays to be a trending topic. 

Sam Adams isn’t the only thing to come from SpaceX’s Inspiration4 mission. We have a lot to learn from this historic flight. While Sam Adams may be the most fun, there is plenty to look forward to in terms of scientific development. 

What is it that Sam Adams said? 

“If ye love wealth better than liberty, the tranquility of servitude than the animating contest of freedom – go from us in peace.”

No, not that. The other thing. 

“This is Boston. Drink Accordingly.” 

No, that’s their current slogan. 

“America’s World Class Beer.” 

Nevermind. Call me when Sam Adams Space Beer is available.

Continue Reading

Business

Scott Tong Shares Invaluable Product Design Insights and Culture for Startups

Published

on

Many startups are launching their businesses left and right, but some may not have a design plan in mind. This, in turn, could lead to challenges ahead for startups looking to stand out from the crowd. And it’s best that startups learn to value design and development. One such expert in the field is designer Scott Tong. He worked as the head designer for Pinterest and was the co-founder of IFTTT. Currently, he’s an advisor for Designer Fund. Here, we take a look at the advice he has shared for startups.

Scott Tong: Early Stage 2021 Tidbits

TechCrunch held their TC: Early Stage 2021: Marketing and Fundraising Bootcamp for early-stage startup founders from July 8 to 9, 2021. One of their guest speakers was Scott Tong. 

He spoke with Jordan Crook from TechCrunch to discuss early-stage design and its long-term impact on the startup. Plus, he even reveals how to find the right people for product design work. He disclosed two important points on what entrepreneurs should think about when it comes to design: reputation and existing vs. preferred.

For Tong, he considers a brand as the reputation of a company. Here, he examines the following ideas:

  • First impression
  • Repeated long-term behaviors
  • Unique and memorable moments

And the other point he brought up in Early Stage 2021 is “existing vs. preferred.” This means scrutinizing design and understanding how it matters in your company.

User: The Driving Force of a Product

Scott Tong is no stranger to TechCrunch. In his article for Techcrunch around four years ago, he emphasizes that when developing or creating a product, the one thing that matters is the user. He urges startups to ask the question, “what is right for the user?” than “who is right.”

In the article, he branched out three concepts that have value when it comes to developing a product. And finding the best people to understand your users.

The first of his points is about understanding and driving T-shaped people. It’s when you have someone well-versed in their field while collaborating with another person from another field. The best ones are curious, empathetic, and humble.

His second point deals with T-shaped people and user-centered thinking coming together. Your T-shaped people should always have the question of how to solve problems for users. And these T-shaped people will know that they can’t satisfy all of your user’s needs but identify the best solutions for your users.

Lastly, your startup should always know how to craft high-quality decisions. But what counts as one? He lists down what makes a decision, high-quality:

  • User-centric
  • Timely
  • Calculated
  • Communicated
  • Humble
  • Shared
  • Monitored
  • Considered
  • Balanced

Other Speaking Engagements

Early Stage 2021 wasn’t the only time Scott Tong shared his design insights and experiences as a founder. The Designer Fund advisor was a guest in the Startup Grind. In this event, he talked about being a designer for IDEO and Pinterest. At the same time, as a founder, he also touches on the subject of culture. 

He gives his advice for entrepreneurs who have lost their sense of purpose. He says to get in touch with values. Plus, he’s aware that disagreements are ever-present in any business setting. And to reduce friction, trust is key, and understand your team.

One other podcast tapped the ex-Pinterest Head of Design to discuss Design Entrepreneurialism. In this podcast, he talks more about his journey as a designer and working in the new venture: IMO Ventures. 

And the one thing he emphasizes about design is culture, which he also wrote in his TechCrunch article. Here, he says that design is connected to messages, wherein it means one thing to the designer and another to its viewer. That’s one way startups may look when considering product design.

Continue Reading

Trending