In 2018, we’ve seen the continued rise of influencer marketing, with a nod toward more transparent partnerships between brands and their celebrities or ambassadors. And the latest data shows no signs of slowing.
More brands are trusting influencers to help grow their audience and boost sales using social media channels—because it works.
- Marketers received $7.65 in earned media value for every $1 spent on influencer marketing – Influencer Marketing Hub
- Marketing induced consumer-to-consumer word-of-mouth generates twice the sales of paid advertising – McKinsey
- Customers acquired via word-of-mouth have a 37% higher retention rate – McKinsey.
- 92% of consumers trust online word-of-mouth recommendations, while only 33% of them trust online banner ads – Nielsen
A recent MarketingProfs article about influencer marketing includes an insightful infographic (sourced by e-commerce platform X-Cart) that captures the power of Instagram (as the leading influencer platform) and explains how you can use influencer marketing to grow your brand reach.
Do you plan to use influencer marketing in 2019? We’re interested in hearing for you.