Though Growing, Influencer Marketing Remains in the Early Stages

As influencer marketing grows in popularity, more marketers are working with these individuals to achieve a wide range of objectives.

The “We Asked, They Answered: How Marketers Are Leveraging Influencer Marketing” report from Bloglovin’ found that 76 percent of marketers are turning to influencers to grow brand awareness, and 71 percent are doing so to reach new audiences. Fifty-four percent work with them to grow social media initiatives and 53 percent do so to generate sales.

Approximately 59 percent claim that they reach out to influencers directly, while 35 percent say influencers reach out to them first. Thirty-four percent use influencer marketing platforms, while 27 percent utilize an array of tactics to develop relationships.

“Today, many brands are experimenting with the options available, including: working with influencers directly or tapping into influencers via platforms, media companies, or talent management companies,” explain the authors of the report.

However, budget statistics suggest that marketers are still in the early stages of exploring the benefits of influencer marketing. Nearly half (41 percent) of respondents dedicate no more than five percent of their budget to this tactic.

Influencer Marketing and B2B Priorities

Previous research also shows that B2B marketers are also still in the early stages of experimenting with influencer marketing.

The “Influence 2.0: The Future of Influencer Marketing” report from Traackr discovered that 49 percent of B2B influencer marketing programs are still in the “experimental” phase. About 36 percent are campaign-driven, while 11 percent are ongoing programs. Only four percent of B2B influencer marketing programs are “integrated.”

Most survey respondents (50 percent) said they dedicate less than $100,000 of their marketing budgets to influencer marketing annually.