Businesses Turn to Social Media to Extend Marketing Reach
Nearly two-thirds of brands (65 percent) say they are planning to increase their influencer marketing budget this year, according to a Buzzoole survey of the more than 200 brands on its influence engine optimization platform.
Compared to other strategies, such as display advertising and affiliates, companies plan to invest most in influencer marketing, the survey results indicated.
When comparing the amount companies plan to spend on different promotional strategies, a mere 6 percent of companies focus their investment on display advertising, while 15 percent focus on affiliates, 3 percent on organic search and 29 percent on paid search. Taking the highest percentage is influencer marketing, at 30 percent.
"The most surprising finding was not the fact that many companies claimed they would invest on influencer marketing more in the following months, but the size of the budget they claimed they would allocate," Fabrizio Perrone, CEO and founder of marketing platform provider Buzzoole, told eWEEK.
When selecting their preferred influencer marketing channel, 34 percent of brands focus their strategy on blogs, a new survey finds.
He noted 23 percent of respondents said they would allocate between $15,000 to $25,000, and 17 percent would allocate $26,000 to $50,000, which he said proves influencer marketing is a trend and people trust the value coming out of it.