Brands have given a vote of confidence to influencer marketing in 2020. Far from being an off-the-wall method of connecting with customers, up to a quarter of brands say they are planning to spend over 40% of their digital marketing budgets on influencer marketing this year, according to a new report.
San Francisco-based influencer marketing company Linqia has released its fourth annual State of Influencer Marketing report. It gathered data from almost 200 marketing professionals across industries in December 2019.
The report shows that two out of five (40%) of brands plan on running six or more campaigns and almost three out of five (57%) of marketers plan to increase their influencer budgets.
Celebrity influencers are no longer as popular as they used to b,e as brands move toward micro-influencers to spread the message about the business.
Micro-influencers, who tend to have 5,000 to 100,000 followers, continue to grow in popularity, with almost over three in four (78%) brands saying they want to work with micro-influencers in 2020.
Under one in four brands (22%) want to work with celebrity influencers in 2020, and one in five want to work with influencers who will promote products for free.
Even considering the buzz that Chinese viral video platform TikTok is generating, only one in six (16%) businesses plan to incorporate the social platform into their influencer marketing campaign.
Instagram is still the predominant platform for influencer marketing, with almost 100% of respondents planning to use it. This was closely followed by Instagram Stories, Facebook, YouTube, Twitter, and Pinterest, with TikTok and Snapchat tying for 16%.
Almost nine out of 10 (89%) respondents said that in 2020 they plan on re-using influencer content across other channels such as social media, web, emails, and display ads. Most said that paid social would be the primary venue, or use the content for their own organic social channel.
Influencer marketing is maturing steadily. Businesses can connect with their target markets using influencers to ensure greater activity and engagement with their audiences.
The wide range of influencers across platforms means that brands will have more ways to accurately measure their connection to their audience and demonstrate a positive return on their investment -- whichever type of influencer they use for their campaigns.
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