Influencer marketing keeps gathering momentum. Over the first quarter of 2017 more brands prioritize it as a leading marketing channel and allocate growting budgets for influencer campaigns.
The first quarter of the year has ended and it’s a good time to take a quick look at the state of the industry.
Micro-influencers draw a lot of attention at the beginning of the year. Recent studies shows that micro-influencers are more cost-effective than other influencers. The studies support the trend of brands focusing on micro-influencers over more popular creators.
The selection of studies below shares noteworthy figures about influencer marketing from the first quarter of 2017. If you have an interesting research to share with us, feel free to do so in the discussion area below.
Let’s dive into the State of Influencer Marketing Q1 2017:
Micro-Influencers Are More Cost Effective
Micro Influencers are 6.7x more efficient per engagement than influencers with larger followings. According to the research by HelloSociety, Micro-influencers, who were defined as creators with up to 30,000 followers, drive 22.2 times more weekly conversations than the average consumer. (HelloSociety)
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Brand Spending Is Up By 6.7%
“Total brand spending on influencer marketing was projected to reach $81.3 billion in 2016, up 6.7% from $76.19 billion in 2015.”(PQ Media)
“37% of influencer marketing is outsourced to media companies with B2C clients accounting for more than 84% of budgets.” (PQ Media)
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Influencers Charge $271 For an Instagram Post
The average charge of sponsored post on Instagram by influencers is $271. Modeling influencers charge the most ($434, on average), and lifestyle influencers charge the least, with an average of $172 per sponsored post. (Influence.co)
“Influencers with 100,000 or more followers charge $763 per sponsored post, on average, whereas those with fewer than 1,000 followers charge $83, on average.” (Influence.co)
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“Brands that implemented an Influencer Marketing program received $11.69 in Earned Media Value (“EMV”) for every $1 of spend on average.” (Loyalty360)
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Influencers Make People Talk More About Brands
“Advertisers that ran an Influencer Marketing program for two or more weeks saw on average an increase of 14.78% in brand mentions and an 8.73% increase in positive brand sentiment.” (RhythmOne)
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No Doubts about Influencer Marketing Efficiency
Influencer Marketing works, and works well: 94% of marketers who used influencer marketing believe the tactic to be effective. (Linqia)
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Influencer Campaigns Beat Traditional Advertising
41% of marketers seen more success in influencer campaigns than in traditional advertising efforts. (Bloglovin’)
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Want to see Influencer Marketing at its best? Check Out L’Oréal’s #TrueMatch Campaign: