Online searches for influencer marketing have skyrocketed in recent years. In the past decade, searches for influencer marketing have witnessed an increase. In this article, we are discussing influencer marketing statistics in 2020.
What is Influential Marketing?
Influential marketing can be described as a partnership between brands and people that are influential. These influencers include artists, content creators, celebrities, tastemakers, etc. Influencers in social media platforms such as Facebook, Instagram, and YouTube have earned a huge number of loyal followers, through the content they have created online. When a brand collaborates with an influencer, the brand sponsors the cost of production, transport, etc. for the influencer.
Influencer Marketing Statistics in 2020
We have compiled some of the remarkable statistics about influential marketing in 2020.
Marketing Budget
There will be an increase of 65% of the marketing budget in 2020. Out of all the marketers, it has been noticed that about two-thirds of them will be increasing their budget on influencer marketing this year. Data collected in 2018 shows that 39% of marketers were planning to grow their marketing budget allocated for influencer marketing. This data suggests that there will be a further increase in the budget allocated for influencer marketing in the upcoming years. $1000 – $10,000 per year is the most commonly adopted influencer budget. This is closely followed by a budget that accounts for between $100,000 ad $500,000 each year.
It has been decided by 7% of companies to invest more than one million dollars for influencer marketing. Influencer marketing is a marketing strategy that is endorsed by small scale businesses to larger brands that operate globally. 89% of the companies claim that the return of investments from influencer marketing is comparatively better than other marketing channels that they have used.
Instagram is the social media platform that ranks as the number one channel for influencer marketing. It is undoubtedly the most popular and impactful channel for influencer marketing. With a whopping 1 billion users on the platform, Instagram has become one of the most popular destinations for netizens. The United States ranks first in the number of Instagram users among all countries. There are around 120 million Instagram users in the United States alone. These numbers are convincing enough to use Instagram as a platform to implement powerful influencer marketing campaigns.
Snapchat
The least preferred channel for influencer marketing is Snapchat. Snapchat has failed to grab the attention of marketers in recent years, although it remains popular among smartphone users. The user experience often restricts users from finding and following the influencers. Snapchat stories have also grown less popular. On the other hand, Instagram stories have outdone Snapchat with the number of daily active number of users more than doubling the number of Snapchat story users.
Conclusion
Over two-thirds of marketers have decided to spend most of their marketing budget on Instagram. Another interesting statistic is that 69% of the marketers are planning to allocate most of their budget for influencer marketing campaigns on Instagram. The second most preferred channel for influencer marketing is YouTube.
