The good people at eMarketer just published an analysis of influencer marketing campaigns, and they concluded something a lot of people have learned first-hand: influencer marketing works.
According to eMarketer, the average EMV (earned media value) was 1.4x higher in the first half of 2015 than 2014’s averaged EMV. On average, companies gained $9.60 in EMV for every dollar spent. This was especially true in consumer goods, travel, beauty, and alcohol. This doesn’t surprise me — many influencers are YouTube, Vine, Snapchat and Instagram stars who specialize in beauty, travel and humor.
Speaking of platforms, Instagram was the king of influencer marketing by a longshot. Overall, influencer marketing is becoming more mainstream and is a better bang for the buck than traditional methods of reaching consumers. One of the reasons for its effectiveness is explained by the Reputation Trigger from my book Captivology. The research shows that 1) we are hard-wired to trust experts, so much so that our critical decision-making centers of the brain shut off when we listen to an expert, and 2) we trust experts more than any other type of spokesperson or brand ambassador. If a popular beauty vlogger tells you about a new skin treatment to try, you’re going to listen.
You can read more about the effectiveness of influencer marketing on eMarketer and read more about the science of influencer marketing in Captivology.