The State of Influencer Marketing In 2019

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Social media is now accepted globally and has become an integral part of everyone’s life, this has given a golden opportunity for users with rich, engaging contents to accumulate loyal followers and earn a livelihood doing so. Social media users with such quality posts and huge fan base are known as influencers and brands have realized with time they are the best suited for their marketing campaigns.

Unlike other traditional media, social media is not bound by restrictions such as geographical location and target audience worry. The social media is accessible by all regardless of their age, class, and location. The ever-growing nature of the business indicates companies are investing more in influencer marketing as well as making way for aspiring influencers. Many businesses are looking for a side stream income to increase their revenue.

The Rise of Influencer Marketing

We will all probably agree that influencer marketing is on a steady rise, but figures and statistics might help us appreciate the acceptance and the recent boom that has hit the business.

Market Size: The most important yardstick to measure business growth is the market size. The influencer marketing business was estimated to be 1.6 billion in 2016, and it rose to almost double at 3 billion in 2017, a further 50% increase by 2018 to rise to 4.6 billion. The figure presently stands at 6.5 billion, which is a 400% increase from 2016.

Internet Searches: Another vital metric to measure growth and popularity is the amount of search engine searches. Increase in search is directly proportional to the increase in consciousness and acceptability. The phrase influencer marketing was searched 4000 times in 2015, 6400 times in 2016, 21,000 in 2017, and 60000 in 2018, representing a 1500% increase within 3 years.


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What to Consider for a Successful Influencer Marketing

About 80% of influencer marketing campaigns are successful while the failed campaigns are caused by inadequate planning and failure to set ideal key performance indicators (KPIs). The following should be considered for a successful influencer marketing campaign:

Get the Right Influencer: A major cause of a failed influencer marketing campaign is choosing the wrong influencer for your campaign. Getting an influencer in the wrong niche, an influencer with poor contents, and an influencer that doesn’t use your products are few of the reasons why an influencer might not be ideal for your campaign. Making use of influencer agencies in choosing your influencer can help you avoid the mistake of choosing the wrong influencer.

Creative Contents: When launching an influencer marketing campaign, it is essential to dedicate some time to creating engaging contents, and choosing a creative influencer may help with this.

Right Target Audience: The success and popularity of an influencer doesn’t make him ideal for the campaign. Age, location, and gender of influencers’ followers must be taken into consideration when choosing the influencer for your influencer marketing campaign.

Adequate Preparation: Whatever is worth doing is worth doing well, to ensure a successful campaign, linking a URL to the campaign, selecting the right influencer and setting KPIs that will ensure good ROI are necessary.

Effective Terms of Agreement: After identifying your ideal influencer, the next step is setting terms of the agreement that will clearly spell out each party’s responsibilities as well as avoiding copyright issues.

What to Avoid When Choosing Influencer

Choosing the wrong influencer ruins an influencer marketing campaign, always avoid the following when choosing your influencer:

Fake Followers: The major headache for brands seeking influencer is engaging fake influencers, there are a few fake influencers with fake followers, fake likes, comments, and reposts, going through agencies can greatly reduce chances of dealing with fake influencers.

One-off Campaign: In order to improve influencer marketing campaign success, it is pertinent to try a continuous campaign that keeps your target audience engaged. Making use of brand ambassadors who are contracted to represent, promote, and market the brand summer, winter, spring, and fall, ensuring your audience are engaged continuously.

Avoid Very Expensive Influencers: Macro influencers with huge followers command a huge fee, kylie Jenner charges 1 million dollars per post while Cristiano Ronaldo charges 975,000 dollars for a single post. Only huge brands can afford the services of the macro influencer. Always stick to a budget and make judicious use of micro-influencers in your niche. Going beyond your budget to engage the services of a macro influencer may result in a failed campaign if the ROI doesn’t complement the investment.

What Makes an Influencer Marketing Campaign a Successful One?

Few metrics determine the success of an influencer marketing campaign, KPIs vary from brands to brands and campaign to campaign. The commonest KPIs are:

Brand Awareness: The essence of an influencer marketing campaign is to improve people’s consciousness about the brand, to measure the level of awareness, engagements like likes, clicks, comments, links, and shares are taken into consideration. This is particularly important for a newly launched product.

Improved Sales: It is natural to experience a surge in sales during and after a successful marketing campaign.

New Audiences: By the end of the campaign, brand awareness must have improved among the desired age bracket, gender, and location targets.

Lead Generation: Making instant sales is important, but so is having a list of potential customers and keeping in touch. During the influencer marketing campaign, names and emails can be generated through account setups, give away entries, and newsletters.

 What have we Learned about Influencer Marketing in 2019?

For followers of influencer marketing, there is nothing new to report about the industry, the industry is rapidly growing and could hit a trillion dollars in nearest future, and Instagram remains the leading platform for influencers. Cristiano Ronaldo remains the most popular user of the platform. The state of influencer marketing in 2019 can be summarized in these few steps:

  • 15% will spend up to 50% of their marketing budget on influencer marketing.
  • 65% of brands will increase their budget for an influencer marketing campaign.
  • Influencer agencies increased from 420 to 740.
  • Instagram is the most used platform for influencers, and 89% of Influencers use Instagram.
  • Marketing channel spent most on is Instagram at 69%, followed by YouTube at 11%, Twitter is least at 1%.
  • Snapchat is the least used at 3%.
  • The most common budget range for influencer marketing annually is 1000 – 10000 dollars.
  • The most used content format is Instagram post at 78%, followed by Instagram stories at 73%, twitch Livestream is least at 5%.

Social media has come to stay, and it is now an integral part of everyone’s life. Those who set trends and have huge followership are making it big on social media. These people are known as influencers, brands rely on influencers to reach more target audience, these types of marketing is rapidly replacing old ways of marketing of print media and billboards.

In the last year Influencer agencies almost doubled, the market grew more prominent with a potential to grow even bigger, by preparing adequately and going through the diligent process in selecting an influencer, brands can grow their brand bigger by reaching their target audience in different geographical locations.

6 Ways that You Will Rule with Influencing Marketing in 2020

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This decade is almost at its end with the next year the last year in the decade. Every decade ushers in a new trend. Influencers and business owners have worked together to create a vibrant marketplace. However, there are so many influencers entering the market, making the need to stand out more necessary. It is crucial to end this decade well to begin the new one with enough energy and confidence.

Influencers are quickly learning that they have to outstanding to be relevant in such an industry. This industry has grown rapidly to about $6.5 Billion in the past five years. This is to show that more growth is anticipated. There are latecomers to the show that will still be very successful at digital influencer marketing more than the already known ones. It is quite interesting that social media has created its own celebrities as the internet is encouraging the development of digital currencies as well.

Are you looking to get paid as an influencer?

When one considers that online purchases and deals are globally digital, the ease of conducting transactions between influencers and the brands being represented becomes more realistic. Diversification of income generation is the order of the day, and many professionals have a side job, which is their ‘hustle’ as it is termed in the urban slang. Therefore, if you are an influencer already, you want to remain competitive. If you are just venturing into the world of social media influencing, you want to start on the right foot with a sound strategy.

Do you know that more than 50% of business owners are seeking not only to improve their digital presence but to invest in social media influencers and campaigns to boost their online traffic? Can you imagine that market research has predicted that by the end of next year, the influencer market would have seen a dramatic rise of up to 65% increase, making it a $10 Billion market? These are a few of the many things that will change not only the world but also the world of influencer marketing. This why being relevant and employing the following 10 tips are crucial to be successful.

The Engagement Power of the Influencer

This is a vital aspect of influencer marketing’s quality. There are lots of celebs with lots of followers who are only looking out for their next post. Although, some others take it a step further. What they do is to interact with their followers giving them a sense of worth and loyalty that can’t be bought. An influencer may have an average of half a million followers and be capable of running a successful campaign compared to celebrities with as many as 10 million followers. This is because the micro-influencer can engage his followers through consistent and meaningful interactions. If you are a brand looking to succeed in this market, or an influencer striving to soar, you have to take this aspect seriously for any successful influencer marketing campaign.

The Connection in Diversity

There are subtle differences between the niches every influencer occupy. As much as one may be an influencer in the medical world and not interested in cooking at all, you may become more successful by connecting the two. Imagine an influencer that brings cooking and medicine together, and this will create a network between these two diverse yet similar groups. Such a rare combination brings about more publicity to such an influencer, as both lovers of food and health will follow such an individual. This provides ample benefit to the brands that will run campaigns with such influencers. This is one of the future trends that will increase traffic and clients in influencer marketing this coming year.

Long-term Relationship between Social Media Influencers and Brands

Social media influencers benefit a lot from running a brand promotion. Some have more traffic and followers as a result, and besides the expected charges that come with the contract, they are also capable of making more in terms of sales commission. However, the brand may stand to lose more if they keep changing influencers with each campaign. This is why business owners and company representatives have devised that the new approach to this sort of marketing is the old trick of maintaining long-term relationships. When an influencer is kept for a while, they start to feel connected to the brand. This not only transmits into their passion in promoting the brand but in higher revenue generation.

 Federal Regulations on Social Media Ads

The Federal Trade Commission (FTC) has been stricter with business transactions online, mainly influencer marketing deals. Influencers are now obliged to indicate whether their connection with a brand benefits them financially or not. This is crucial as it adds to the integrity of influencers giving authentic testimonials or those that are paid to critic or give an appraisal of the product being promoted. This also gives an insight into the level of commitment a company shows in bringing their products to the public.

CGI Influencers

We are at a point when gaming apps are becoming ways youth interact with themselves. Several billions of dollars have gone into the gaming market. The influencer marketing world is gently tilting into that direction. You may wonder why? People are beginning to create avatars that will serve as influencers, and they’re getting successful at it. Few of these CGI influencers have landed deals with renowned brands. An example is Lil Miquela, that has a contract with Prada and Calvin Klein. There are a few others like that, and the benefit they offer is the freedom in dictating how the brand is promoted.

The future may be slightly frightening, maybe because it is uncertain or just because our dreams come alive. However, one thing remains the fact that only those who evolve will benefit from the luxuries it comes along with the future. If you want to do better than the current version of you and become exceedingly successful, start preparing for the next decade as this one comes to an end next year.

Creating a Side Stream of Income for Your Business

While you are looking for ways to increase the value your business and to amplify the hard work you are already doing, you may want to consider adding another stream of income.

If you are interested in a side stream income, click on How to add a software as a service business to your core business.

Are you looking to get paid as an influencer?