Influencer Marketing Is Overreaching As Growth Figures Show No Signs Of Slowing Down

Influencer marketing is spreading its reach with much to expect, even for the blockchain and crypto space. And as growth figures and relevant data have shown so far, there’s no sign this new and exciting marketing channel is slowing down.

Sixteen years ago, the term influencer marketing didn’t exist. But with the coming of more social media platforms like Facebook, Snapchat, Instagram, Twitter, and TikTok, lots of users became content creators. Nowadays, a social media influencer earns more than a high school teacher in the 5-10 billion dollar influencer marketing industry.

As marketers worldwide struggle to keep up with the rapid growth that influencer marketing is accruing, this article carries some interesting numbers and statistics that paint a clearer picture. First, let’s find out what exactly influencer marketing entails.

What Is Influencer Marketing?

Influencer marketing or influence marketing is a form or channel of marketing that focuses on specific and key individuals instead of a whole target market. 

It takes place when companies and businesses partner with influencers to increase their conversions and brand awareness among a particular target audience.

Usually, marketers will sponsor an influencer’s social media and online content. They do this to endorse their product, service, and brand while driving purchase figures up.

If the past five years have shown anything, influencer marketing has risen from complete obscurity to become a type of marketing worth billions of dollars.

Ben Jeffries, founder of one of the UK’s largest influencer marketing companies, while speaking on just how potent influencer marketing has become, said, “The vast majority of consumers who engage with online content now have various ad blockers installed, which prevent the display of online paid advertising on their browsers.

“There is a desire to find alternative methods for brands to present their products/services online; methods that will not be blocked by a third party extension. Influencer marketing has become a great option for brands to advertise to targeted audiences without it being stopped by an ad blocker.”

Blockchain Has The Crypto Space Hoping and Dreaming With Influencer Marketing

Yes, influencer marketing has also found its way into the vast and crazy world of blockchain technology. Raiinmaker is one of the first influencer marketing apps to combine smart contracts, influencers, and marketing budgets.

The blockchain-built platform allows clients to exploit the rare opportunity of directly connecting with influencers and rewarding them via a unique protocol, proof of influence. 

It is a much better route than simply spending millions on dinosaur campaigns that rarely convert at the expected scale. 

With Raiinmaker’s proof of influence, companies can reach influencers while targeting customers more organically and effectively, compared to traditional means.

Raiinmaker is spurring global brands and organizations to inspire their respective audiences to take social action. It is fueling the loyalty and relevance of these brands with their fans.

More so, the platform has automated matchmaking and the whole influencer management process. There’s less cost to attend to and a wide sphere of untapped audiences to cater to and reach.

Here Are Some Important Influencer Marketing Statistics For 2021 

2020 brought a lot of uncertainties with it, most of which influencer marketing managed to trump while becoming a far more popular and effective marketing form than critics expected. 

Influencer marketing is more or less a part of the mainstream marketing mix now. Even as the media continues to criticize and doubt the potentiality of the industry, these statistics show just how effective influencer marketing is and can become.

• The influencer marketing industry is expanding and will grow to approximately $13.8B in 2021 (Source: Influencer Marketing Hub) 

• Conversions or sales are the most common measure of the success of an influencer marketing campaign (Source: Influencer Marketing Hub) 

• In 2021, Snapchat will be the least preferred social media channel for influencer marketing. The platform doesn’t have enough audience data that influencers need to reel in brands for sponsorship.

• Approximately 78% of social influencers (for brand collaborations globally) prefer to use Instagram as their primary and basic social media platform. (Source: Statista)

• 80% of B2C brands and companies presently work with or plan to work with influencer marketing. (Source: Cure Media) 

• 80% of marketers say influencer marketing is effective. (Source: Mediakix)

• In 2021, a non-celebrity blogger is ten times more likely to influence people than a celebrity.

• The top goal of 85% of marketers that use influencer marketing is raising brand awareness. (Source: Cure Media) 

• 4% of social influencers around the world choose YouTube to be their primary social media platform. (Source: Statista) 

• Just 2% of social influencers worldwide use Facebook as a primary social networking platform. (Source: Statista)

• Nano-influencers (1k – 10k followers) get the most social media engagement. TikTok is home to most nano-influencers, with 53.5% of influencers on the platform on 1k to 5k followers. (Source: HypeAuditor) 

• TikTok is quickly becoming a successful influencer marketing hub. In 2021, 68% of its users bought a product after seeing a TikTok about it. (Source: The State of TikTok Influencer Marketing 2021 Report) 

• In 2021, the Instagram influencer market should grow 15% and reach a market cap of $5.8 billion by Q4. (Source: 2021 State of Influencer Marketing Report)

• A recent survey showed that 54% of marketers have concerns about the authenticity of an influencer’s followers. (Source: Social Media Today)

Conclusion

As influencer marketing keeps growing, even extending its reach towards the blockchain space with platforms like Raiinmaker, the multi-billion dollar industry might be completely mainstream in no time.

Some of these statistics point investors and brands towards the right direction and change the media’s stance and critics on the longevity of this new and exciting marketing form.