Influencer Marketing Trends, Statistics and Facts

Influencer Marketing Trends, Statistics, Facts and Insights You’ll Need for 2020

Published Under: Statistics | Influencer Marketing
Last Updated: March 15, 2020
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Are you planning to add influencer marketing to your social media marketing strategy in 2020? If yes, then we have good news for you. 93% of marketers are already using influencer marketing. And number tell a million stories. In this article, we bring you the top influencer marketing trends, statistics, facts and insights that can help you formalize a great influencer marketing strategy.

Isabell Gaylord

In a survey conducted by Influencer Marketing Hub, 92% of the participants say that influencer marketing is an effective form of marketing.

The numbers don’t lie.

According to Michael Miguel, the founder of AssignmentGeek, influencer marketing is one of the powerful ways to build brand awareness on social media, especially on Instagram. And according to research, global spending on influencer campaigns is projected to be $5-$10 billion currently.

The industry has grown significantly over the years and it does not show signs of slowing down given that brands are increasing budgets on their influencer marketing strategies.

In this article, I’m going to share with you the hottest influencer marketing trends and insights to watch out for in 2020.

It’s important to pay attention to these trends as they are affecting businesses of all sizes that utilize social media influencers to create products and brand awareness.

Let’s get started

What is influencer marketing?

Influencer marketing is a type of marketing where marketers and brands partner with influencers to endorse or mention their products on social media.

Influencers are individuals who have built dedicated and loyal followers through their online content creation and are seen as experts within their industry.

“The effectiveness of influencer marketing is because of the great trust that influencers have accumulated with their followers and getting them to endorse your products serves as social proof to your target customers”, says Joshua Longman, the chief online marketer at EssayUniverse.

With that, let’s take a look at the top influencer marketing trends you should watch out for now and in the future.

Actionable Tips:

Ideally, Facebook is still the most powerful social network due to the huge number of users the platform commands.

Nevertheless, influencer marketing enthusiasts seem not to be wowed by the huge fan base. Companies consider visual platforms like Instagram and Pinterest to be the best avenues to look for influencers with a loyal following.

But the power of video can’t be underrated. YouTube is becoming a popular platform especially for promoting products that have younger customer demographics. A study suggests that 6 out of 10 people prefer watching online videos than television.

If you want to see success on YouTube though, it’s important to partner with influencers directly instead of using YouTube ads. When you partner with influencers on YouTube, you can tell who is going to see your products but with ads, you have little or no control over who sees your ads and sometimes your target customers are presented with unrelated ads.

Be sure to select YouTube influencers in your niche though.

Did You Know?

  • 89% of marketers report that influencer marketing is generating positive ROI than other marketing channels. Or
  • 4 out of 5 marketers acknowledge Instagram posts as the most effective.

A certain survey by EssayShark suggests that 17% of brands will dedicate half of their marketing budget to influencer marketing.

This is a huge improvement of the influencer marketing industry given that a few years ago many marketers couldn’t consider it a priority in their marketing strategy.

In fact, in 2019, 65% of marketers had planned to increase their influencer marketing budgets yet in 2018 only 39% could plan the same. As the industry continues to skyrocket, we expect marketers to invest in better strategies.

A few years ago, the influencer-bands relationship was on a campaign by campaign basis. This means that once the campaign was over, the relationship was also called off- the relationship only existed during the influencer marketing campaign period.

But as the industry continues to mature, brands are realizing the need to build lasting relationships with their preferred influencers. Building long-term relationships with influencers save brands the time, cost, and effort of finding new influencers every time.

That’s why it’s important than ever for brands to do enough research when selecting influencers as this enables them to identify those that match the brand’s target customers. This way, brands can use those influencers in their future campaigns.

Well, brands can choose different types of influencers based on the products they are promoting though. But the real thing is that brands are building long-term relationships with influencers.

Generally, there are five influencer tiers on Instagram (the most powerful influencer marketing channel) namely:

  1. Nano-Influencers- less than 10,000 followers
  2. Micro-Influencers- between 10,000 – 50,000 followers
  3. Mid-Tier Influencers- between 50,000 – 500,000 followers
  4. Macro-Influencers- between 500,000 – 1,000,000 followers
  5. Mega-Influencers- more than 1,000,000 followers.

As you can see, mega-influencers are viewed as suitable individuals to partner with as they have a huge following.

However, they demand huge budgets. Even though companies have been working with mega-and mega-influencers to spark conversations around their brands, many are starting to see the potential of nano-influencers.

Besides, influencer marketing’s effectiveness relies on the trust influencers cultivate with their audience which is something nano-influencers can achieve with their followers.

The good thing about nano-influencers is that they aren’t costly to partner with and they generate an amazing ROI. That’s why brands have opted to work with these influencers.

In a bid to nurture solid connections with their followers, Instagram influencers have discovered the use of long-form captions.

Instagram limits users to 2,200 characters, which is approximately 360 words per caption. This enables influencers to write short descriptions that resemble blog posts.

Long-form captions enable influencers to interact with their followers, whether it’s asking them to share their own experiences or a call-to-action that sparks conversation.

Many influencers are using Instagram as a blogging platform by writing long-form captions.

These long-form captions are also personalized which helps them to connect with brand followers with ease.

Moving forward, we can expect to see more and more influencers using long-form captions in their campaigns in a bid to foster a long-term relationship with brands.

According to Steven Leon, the author of the academized review, to be successful on any influencer or social media marketing campaign, brands should target customers who are most likely going to find their products beneficial to them on their preferred social media networks.

This means targeting potential customers on their preferred social media channels. And if your potential customers are spending time on Instagram, Twitter or Pinterest, it’s safe to target them on all these networks. You just need to find out where your target customers hand out the most on the internet.

These days, most influencers have built followers across channels (Facebook, Instagram, Twitter, Pinterest, YouTube, etc.).

If you are looking for influencers with a huge follower base on a single social channel, then you are missing out on a lot of potential customers on other networks.

And even though you cannot benefit a lot from all the channels, you most likely will land many who spend time on one or two of these popular social channels.

Read More: Is Facebook Or Instagram Best For Paid Advertising In 2020?

People love visual content these days more than ever… and Instagram was developed as a visual platform. Influencers know this. That’s why it’s becoming the most powerful and sought-after social media channel for influencer marketing.

Even though influencer marketing can be done on all social media networks, brands view Instagram as their best channel when it comes to connecting with their target market. 89% of marketers say that Instagram is their preferred channel in their social and influencer marketing campaigns.

The platform is preferred as it enables users to share regular posts and Stories.

Stories have outshined Snapchat hence making Instagram the best short-form video channel globally. Besides, the introduction of IGTV offers enough avenues for brands to advertise on.

In the early years of influencer marketing, brands couldn’t measure ROI effectively.

Brands could spend huge budgets on celebrities but the outcome wasn’t always amazing.

The use of analytics has enabled brands to start optimizing their strategies. These days, marketers have become better at noticing authentic sales conversions which have led to the execution of sophisticated and organized campaigns.

Marketers can monitor the performance of their campaigns in real-time and generate reports that matter to them.

90% of marketers agree that the quality of customers obtained from influencer marketing is better than those accrued from other channels.

The advent of Stories, YouTube vlogs, blogs, etc. have broken the barriers that marketers couldn’t with traditional forms of marketing. Social media has shown a huge influence over how business approach and marketing Strategies.

Contrary to celebrities, influencers are more open and accessible hence making them better avenues for engagement.

The effectiveness of influencer marketing is because of its ability of social media pros to build stronger relationships with their followers, something which traditional ads could just dream of.

Of course, traditional advertising isn’t dying anytime soon but we can expect to see influencer marketing the preferred technique by marketers for many years to come.

As of now, most brands and marketers treat influencer marketing, content marketing, and social media marketing as three distinct online marketing practices. Even though they are all separate practices, they represent a single online marketing process.

Generally, content marketing is the process of creating content and sharing it with targeted customers. Influencer marketing and social media marketing, on the other hand, focuses on content sharing through social media channels. But even brands that rely on influencer marketing have their own social media accounts although with fewer followers and less reach than influencers.

Moreover, even the supporters of content marketing, use social media accounts to distribute content.

Thus we can expect brands to continue creating content, sharing it on different channels and engaging with influencers in their niche to increase brand awareness.

Influencers have adopted the creation of new types of content over the past year. In their early years, influencers focused on creating sponsored posts, but currently, we are seeing a shift towards highly engaging video and audio content.

Perhaps to the avid content marketers, this is not news given that video marketing has proved to be the king when it comes to content marketing.

A study by Wyzowl suggests that 72% of people are happy to learn about a product or service by watching video content than reading a block of text. Podcasting has been around for some time now but it’s currently becoming a popular medium for creating brand awareness.

A study by Musicoomph suggests that there are 700,00 active podcasts and 69% of people learn about new products or services through listening to podcast ads.

Customers these days are looking for informative and engaging content thus making video and audio content more popular.

Brands have also realized this and that’s why they are partnering with influencers to give customers what they want.

It’s no doubt that artificial intelligence is transforming influencer marketing currently. AI is simplifying the process of identifying and partnering with suitable influencers a lot more easier and quicker.

The technology is helping brands to identify influencers with better engagement and higher chances of driving amazing ROI.

The following artificial intelligence technologies are transforming influencer marketing:

  • Predicting incentives with Artificial Neural Networks (ANN)
  • Image recognition with ANN
  • Flagging posts that go against disclosure guidelines
  • Determining influencer performance with Natural Language Processing
  • Etc.

Are You Ready to Move With the Wave?

As a rule, to see success with your influencer marketing strategy, it’s better to collaborate with influencers within your niche, who are trusted and respected by their followers than to have anybody who has a huge following on Instagram.

To make sure you are not left out by the influencer marketing wave; make sure you are on par with the latest development in the industry. We hope these influencer marketing trends will inspire your marketing strategy for 2020.

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Meet The Author

Isabell Gaylord

Isabell Gaylord is a professional online marketer and essay writer with more than 7 years of experience who offers academic writing services such as essay papers, and many other types of assignments. Isabell is also a businesswoman and a consultant with lots of experience in internet and social media marketing.

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