Seventy percent of millennial consumers say their shopping choices are influenced by the recommendation of their peers, including influencers.
DesignRush, a B2B marketplace connecting brands with agencies, shared the ways that influencer marketing is an effective method for brands to convert audiences.
The ways influencer marketing converts target audiences are:
1. Higher engagement rates
- Influencers achieve 16 times higher engagement rates than paid media.
2. Targeted audience
- Influencers attract like-minded people, so they can impact the buying decision and cultivate the leads with a group of highly-targeted people. There is less trial-and-error than in other marketing methods.
3. Return on investment
- For every dollar that’s invested in influencer marketing, companies are earning at least eight times more.
4. Effectiveness
- 94% of marketers believe that influencer marketing campaigns have been effective in improving their brand’s marketing strategy and results.
5. Growth
- It’s estimated that in 2018, influencer marketing was already worth $1.7 billion and it is one of the fastest-growing customer acquisition models.