Influencer marketing has become increasingly important as social media stars start to eclipse TV celebrities as part of a cost-effective and sustainable marketing strategy. This new infographic looks at the impact on businesses.
Digital marketing specialists TAMBA launch marketplace infographic, to demonstrate the role influencer marketing plays in modern business marketing.
TAMBA’s latest infographic illustrates that in addition to growing opportunities to increase customer bases, the cost per acquisition is also, in many cases, far lower than other mediums – with a ROI of $6.50 per $1 spent. In fact, statistics also show that the top 13% of marketers achieve a huge $20 return on every $1 spend. Whilst not every business can benefit to such a degree, overall 70% of those using influencer marketing techniques are seeing a 100% increase on their ROI (equal to achieving $2 for every $1 spent).
Not only does the infographic highlight the bottom line financial benefit, but it also highlights that over half of those marketers believe they acquire better customers, owing in part to the relationship being started from a position of influenced trust – an approach not dissimilar to using pre-sold customers to increase conversion rates.
The infographic also explores the human element of social media and how it impacts brand opinion and customer retention. TAMBA show that word of mouth is 50x more likely to trigger a purchase than an impersonal ad, 44% of women online are influenced by trusted bloggers and 83% of holiday-hunters are directly influenced by positive customer reviews.