A Linqia study reveals that the majority of marketers will choose to work with micro-influencers this year.
As per the Influencer Marketing Benchmark Report 2020, the influencer marketing industry is set to hit $9.7 billion in 2020. However, the trend has now shifted from celebrity influencers to micro-influencers. The latest report from influencer marketing company Linqia mentions that 78% of marketers are choosing to work with micro-influencers who have 5,000-10,000 followers. On the other hand, 64% of them want to work with macro-influencers, who have 10,000- 50,000 followers.
The report “The State of Influencer Marketing 2020 Survey” is based on a survey of 192 marketers and agency professionals across an array of sectors like CPG, Food & Beverage, Media, Retail, and their agencies. This survey was conducted in December 2019.
About 40% of marketers are now running more than six influencer marketing campaigns, while 20% have plans to allocate up to half of their budgets toward sponsored spots. The report also found that 16% of marketers are planning to use platforms such as TikTok for their campaigns in 2020. This year, 22% of marketers surveyed said they want to work with celebrity influencers while one in five wants to work with influencers who are willing to promote products for free.
The study reveals Facebook-owned Instagram is the premier platform for influencer marketing, with almost all respondents planning to use it. Instagram Stories came in second followed by Facebook, YouTube, Twitter, and Pinterest, TikTok, and Snapchat. Nearly 30% of marketers plan on using Instagram Stories as part of more than half of their Instagram campaigns. The study also found that vertical video will start to play a major part in influencer marketing in 2020, and will likely continue to grow even further.
Nearly 90% of respondents said they plan on re-using influencer content across other channels such as social media, web, emails, and display ads. The study also said that 27% of marketers prefer nano-influencers over celebrities. Lastly, 60% think influencer content performs as good as or better than their own branded content, with only 12% thinking influencer content underperforms.
Earlier in February, the Federal Trade Commission (FTC) crafted new rules for 2020 detailing how online influencers must disclose sponsorships to their followers. However, almost half of the respondents had not learned about the new guidelines governing digital ads issued by the FTC.
2020 will witness further growth, deeper impact, and greater reach due to various influencers across a wide range of platforms. This year marketers will bring more accuracy in measurement and an increase in transparency.