Influencer marketing is definitely crushing affiliate marketing, paid search and display ads and has become one of the fastest-growing online customer acquisition methods. Perhaps the reason is that 74% of people turn to social networks for guidance on purchase decisions.
Businesses are making a strong return from influencer marketing, generating $6.50 in revenue for each $1 spent, according to the latest poll from influencer marketplace Tomoson. The poll also found that influencer marketing is the fastest-growing online marketing channel, crushing other strategies like affiliate marketing, paid search, and display. Here are some highlights from the study that can help you best use influencers to drive your business strategy:
Attract Better Customers Through Influencer Marketing
A majority of marketers believe that influencer marketing attracts higher-quality customers to their business. This could be because social media users tend to be more affluent and more likely to recommend products to family and friends.
Influencer Marketing Delivers a Strong ROI
On average, businesses generate $6.50 in revenue for each $1 invested in influencer marketing . 70% make $2 or more, and 13% make $20 or more. Most businesses get solid results from influencer marketing, with just the bottom 18% failing to generate any revenue.