78% of marketers say they want to work with micro-influencers in 2020. This was a key finding of Linqia’s fourth annual State of Influencer Marketing Report.
2020 State of Influencer Marketing Report
The report confirmed that influencer marketing is a continuing marketing trend, with 40% of marketers saying they are running six or more influencer marketing campaigns. The study also found that 57% of marketers say they plan to increase their budgets for this type of marketing in 2020.
For small businesses, influencer marketing can be an effective way to promote their brand and products. Small businesses often have limited marketing budgets, as they have yet to fully establish their brand. By trusting the recommendations of the ‘influencer’, influencer marketing can be a cost-effective way for small businesses to ‘prove their worth’ to a large audience, which can ultimately help them sell their products or services and give their reputation and credibility a boost.
The report’s authors describe how influencer marketing will continue to dominate marketing this year.
Influencers Continue to Have Impact
“In 2020, we’ll see more growth, deeper impact, and greater reach thanks to a wide range of influencers across a wide range of platforms. There’s still plenty of room to learn and grow, and this year will bring more accuracy in measurement and an increase in transparency.
“Overall, 2020 will be more sophisticated, more thoughtful, more strategic, and more transparent,” the report notes.
What’s particularly interesting about Linqia’s report is that marketers are opting to involve micro-influencers in their marketing campaigns rather than just focusing on celebrity influencers. With 78% of participants saying they would like to work with micro-influencers in 2020, the report shows that these types of individuals are the most selected type of influencer, and the use of celebrity influencers are in decline.
Micro-influences enjoy a following ranging from between 2,000 up to 50,000 on a specific social media channel. They lack the visibility and prolific output of celebrity influencers. But micro-influencers focus on a particular topic, market niche or passion.
More Findings from the Report
Consider, another notable finding of Linqia’s latest influencer marketing report. Influencer marketing remains pervasive. For example, 89% of marketers plan to re-use content created by influencer marketing campaigns. This content appears across their social channels, on their websites, on emails and in display ads.
Instagram leads other social platforms in this type of marketing. Respondents to Linqia’s survey recognize the importance of Instagram. As a result, nearly 100% of the respondents said they plan to use Instagram for influencer marketing in 2020.
The research also highlighted the effectiveness of influencer marketing. For example, it found this type of content outperforms typical branded content by 2.7x on paid channels.
Consider the takeaway message from Linqia’s State of Influencer Marketing Report. You need to remain competitive and grow your brand and its reach. As a result, consider connecting with a broad range of influencers across a range of platforms.