Mar 10, 2018

Influencer Marketing Significantly Boosts Small Businesses

A recent survey conducted by Collective Bias involving 14,000 U.S. respondents revealed that 70% of millennial consumers are influenced by the recommendations of their peers in buying decisions. This staggeringly high number is indicative of a rise in the effectiveness of influencer marketing. Influencers are not only affecting millennials, however, they are affecting older generations as well.

In fact, a study done by Influencer Central found that mommy bloggers rank #3 when it comes to influencing the purchase decisions of mothers.

Although less than 1% of mothers are influenced by celebrity endorsements when making a purchase, a full 30% of consumers are more likely to buy a product recommended by a non-celebrity blogger. This suggests that micro-influencers are favored over celebrity endorsers.

Consumers of today are tired of celebrities and paid actors hawking goods in ads. They crave the authenticity that comes from a real connection with an influencer. 70% of teenage YouTube audiences are influenced more by YouTubers than traditional celebrities. On top of that, 40% of millennial YouTube audiences feel that their favorite YouTubers understand them better than their friends.

If you’re thinking about using an influencer to boost sales of your product or service, you’re in luck – you can hire many influencers for a reasonable rate. 84% of surveyed influencers say they charge less than $250 sponsored Instagram posts, 87% charge less than $500 for a sponsored blog post, and 90% charge less than $250 for a sponsored Facebook post. These figures are shockingly low considering the power these influencers wield over their audiences.

If you opt to leverage influencer marketing by researching market-appropriate influencers and sponsoring their content, you can expect to see a substantial increase in sales. For any business owner looking to put more cash in their pocket, influencer marketing is a real no-brainer.

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About the author

Andrew Mosteller
Andrew Mosteller is a freelance writer and regular contributor to Lendio News. His upbringing in an entrepreneurial family nurtured a passion for small business at a young age. Andrew's father, an equity fund manager, taught him the ins and outs of investment financing. Now, Andrew spends his time writing copy for business owners, helping them expand and advertise their unique brands. He's also studying Strategic Communications at the University of Utah. When Andrew's fingers aren't glued to the keyboard, he spends his time reading, podcasting, composing music, and bombing down the ski slopes.

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