Businesses have long looked for the best strategies to push their businesses on social media. Long gone, for many companies, is solely relying on their social media accounts to promote their products and services – in comes the social media influencer.
A social media influencer is a user who has reliable traction amongst their audience. Generally, their followers (audience) engage with them regularly and value their opinion. Marketers love to leverage the fact that they can use an influencer to promote to a target market, while users are influenced by someone they can relate and look up to.
Influencer Marketing Global Spend & ROI
According to Mediakix’s influencer marketing spend study, the influencer marketing global spend is projected to increase to $10 billion by 2020!
Also, according to a survey conducted in 2017 by Celebrity Intelligence, for every USD 1.27 spent on an influencer, their ROI per influencer was USD 11.15!
So, based on Mediakix and Celebrity Intelligence’s data, you can see how much money is being dished out by influencer marketers and how much return they are getting for their investment.
For you marketers looking to implement influencer marketing, it is the right time to do so!
Now, before we get into the nitty-gritty of which type of influencer is best for your business, we will explain the two different types of influencer – a micro-influencer and a macro-influencer.