Influencer marketing has not always been a large area of investment for marketers, but new research suggests that many in the industry are changing their attitude about this tactic.
Influencer Marketing Hub recently published its “Influencer Marketing Benchmark Report” for 2021, and statistics showed that 90% of marketers now believe influencer marketing is effective. Additionally, three-fourths of marketers intend to dedicate a budget to influencer marketing at some point this year.
“Clearly, many firms now realize the insatiable demand for online content and have increased their content marketing accordingly,” wrote the authors of the report. “Judging by the recent uptake in influencer marketing over the last few years, much of this increase in content must be created and delivered by influencers on behalf of brands.”
Approximately 62% of respondents said that they intend to increase their influencer marketing budget in 2021.
The Steady Rise in Influencer Marketing Initiatives
As more marketers look to experiment with influencer marketing, previous research suggests that they have been setting aside a portion of their budget to do so.
Influencer Marketing Hub’s 2020 edition of its “Influencer Marketing Benchmark Report” revealed that 78% of marketers had dedicated a segment of their budget to influencer marketing last year. Throughout 2020, nearly 66% expected their influencer marketing budget to increase, while 17% believed it would at least stay the same.
In general, 78% of marketers thought that they would spend at least 10% of their overall budget on influencer marketing.