Report: 91% of Marketers Now Believe Influencer Marketing is Definitively Effective

As more marketers look for ways to resonate with their target audience, new research shows that they are putting more effort into influencer marketing as a tactic.

Influencer Marketing Hub recently published its “Influencer Marketing Benchmark Report” for 2020, and statistics showed that 91% of respondents now believe that influencer marketing is an effective form of marketing. On top of this, 78% of respondents stated that they will be dedicating a portion of their budget to influencer marketing in 2020.

Over the next 12 months, 66% of marketers said that they expect their influencer marketing budget to increase, while 17% stated that it will at least stay the same.

Overall, 78% of respondents claimed that they will spend at least 10% of their overall marketing budget on influencer marketing, in particular.

The Ongoing Growth of Influencer Marketing

Although influencer marketing may seem like a new trend, previous research shows that marketers have been deploying this tactic for months.

Linqia conducted the “State of Influencer Marketing 2019” report, and data suggested that 66% of marketers ran three or more influencer marketing campaigns in the previous year. About 74% of marketers use influencer content in other channels, and 57% said that the content outperforms brand-created content.

In 2019, the majority of marketers (22%) stated that they had an annual influencer marketing budget of between $250,000 and $500,000. This was compared to just 16% who said the same in the previous year.