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The Effectiveness Of The Influencer Marketing

Author

Listed:
  • Savica Dimitrieska

    (Faculty of Economics and Administrative Sciences, International Balkan University, Republic of North Macedonia)

  • Tanja Efremova

    (Statistics Department, National Bank of the Republic of North Macedonia)

Abstract

According to the Influencer marketing statistics (Influencer Marketing Hub, 2021), 91% of marketers believed that influencer marketing can be an effective form of marketing. 89% of marketers said that influencer marketing ROI is as good or better than other marketing channels. 71% of marketers rate the quality of customers and traffic from Influencer marketing as better than other marketing sources. 76% of young people follow influencers, and 54% of them would like to become influencers if given the opportunity to do so. 49% of consumers today depend on influencer recommendations for their purchase decisions. 60% say they've been influenced by a recommendation when shopping in-store. Google searches for "Influencer marketing" grew 1500% in the last three years. In 2019, the term "Marketing influencer" was searched 70,000 times a month! More than 240 new influencer marketing-focused agencies and influencer platforms established in 2019! Influencer marketing industry is set to grow to approximately $13.8 Billion in 2021. From these data it’s obvious that Influencer marketing is widely popular and effective form of marketing. The popularity and use of Influencer marketing is due to the world massive spread of the pandemic and the change in consumer behavior last year, as well as the technological development and more intensive use of the Internet for the sale and promotion of products and services. This paper aims to analyze the use, effectiveness and future of the influencer marketing.

Suggested Citation

  • Savica Dimitrieska & Tanja Efremova, 2021. "The Effectiveness Of The Influencer Marketing," Economics and Management, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 18(1), pages 109-118.
    • Handle: RePEc:neo:journl:v:18:y:2021:i:1:p:109-118
    DOI: 10.37708/em.swu.v18i1.9
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    Citations

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    Cited by:

    1. Park, Jinhee & Ahn, Hyeongjin & Kim, Dongjae & Park, Eunil, 2024. "GNN-IR: Examining graph neural networks for influencer recommendations in social media marketing," Journal of Retailing and Consumer Services, Elsevier, vol. 78(C).
    2. Iuliana Obreja & Adriana Manolica, 2024. "Mapping the Evolution of Book Influencers: A Bibliometric Journey," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 476-482, August.

    More about this item

    Keywords

    Influencer marketing; Internet promotion; Influencer marketing effectiveness; marketers; recommendations; Influencer platforms;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • M37 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Advertising

    Statistics

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