Influencer marketing is becoming an effective way for brands to generate big returns on social. As new influencers emerge on different social networks, businesses are looking to connect with those influencial people and their followers. Influencer marketing platform Tomoson recently polled marketers to get a sense of the current state of the market.
Tomoson surveyed 125 marketers to get their opinions on how much revenue influencer marketing can generate, along with other metrics. 59 percent of those marketers believe in influencer marketing so firmly that they plan to increase their ad budgets for it within the next 12 months. 11 percent plan to maintain their present budget, 20 percent are unsure and only 10 percent plan to decrease their spending.
In terms of growth, 22 percent of marketers rated influencer marketing as the fastest-growing online customer-acquisition method. Organic search was ranked second at 17 percent, and email came in at 15 percent. Among the marketers surveyed, only 5 percent believed affiliate marketing was a growing method for customer acquisition.
The survey revealed that influencer marketing provides great returns for most of the businesses that use it. On average, businesses are making $6.50 for every $1 spent. 70 percent of businesses are seeing a return of $2 per $1 spent, and the top 13 percent of marketers are gaining $20 per $1 spent. That said, 30 percent of marketers are losing money, or just breaking even.
When asked which metrics are most important, marketers were heavily focused on revenue. 56 percent believe that the greatest measure of success was the amount of revenue generated. 14 percent considered social shares to be most important, while 9 percent valued click-through rates and 5 percent were happy with the earned-media value the marketing generated.
To see which platforms are most important to influencer marketing, or to see which channels are most cost effective, view the poll data here.