GOAL
Provide statistics and data that illustrate the efficacy of using influencers in marketing and the typical industry standard packages and rates for each tier of influencers.
Early Findings
As we dove into background research on this influencer marketing efficacy and rate, we gained insights on influencer marketing. Here are some key pieces of information we found:
- About 86% of marketers used influencer marketing last year and about 59% plan to increase their influencer marketing budget this year which suggest that many marketers believe it is effective.
- A study by Tomson revealed that businesses make $6.50 for every dollar they spend on influencer marketing. The top 13% of businesses earn as much as $20 for every dollar spent on influencer marketing.
- About 70% of businesses earn at least double the amount they spend on influencer marketing.
- When asked to rate the quality of customers acquired through influencer marketing, 51% rated the customers as better customers.
- Businesses that are very savvy at use influencer marketing get as much as $18 in earned media value for every $1 they spend. Average businesses earn about $5.2 of earned media value for every dollar spent.
- When it comes to earned media value, about 25% of businesses either lose money or break even.
- While pricing differs significantly among different agencies and influencers, industry standard price is about $10 per post for every 1,000 followers. That means that an influencer with 100,000 followers would charge $1,000 per post to her followers.
- Some influencers charge up to $25 per post per every 1,000 followers. That means that an influencer with 100,000 followers would charge about $2,500 per post
- A study found that 84% of micro-influencers (those with less than 50,000 followers) charge less than $250 for a branded Instagram post.
PROPOSED NEXT STEPS
Based on the availability of the information you are looking for, we suggest the following:
- A deeper dive with additional research to find more relevant statistics and data points about brands successfully advertising/ collaborating with influencers. (3 hours, $75)
- A deep dive on the different tiers of influencers and the pricing and packages that are available in the industry. (3 hours, $75).
- Research to provide case studies/examples showing the successful use of the different tiers of influencers identified. ($3 hours, $75).