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Influencer marketing has proven it is here to stay. According to the 2024 Influencer MarketingHub Benchmark Report, the industry is projected to grow to approximately $24 billion by the end of this year. And in a recent survey of marketing professionals, 85% said they would be allocating budget to influencer marketing (up from 37% when the survey launched in 2017).

Despite all of this, some brands are still on the fence. The question then: What are you waiting for?

If you are a C-suite executive or in-house marketing professional wondering how to start, see our previous blog here. If you need a reminder about the significance of this space – and how everyone from the cool kids to your grandma is on social media – then read on. We’ve gathered the latest data points and qualitative feedback from our top creator partners.

Spoiler alert: Serious budgets are being spent, real ROI is on the line and there is much success to celebrate.

We listen to voices we trust

First, let’s take a step back. Before we all lived on the internet in a significant way, where did you get your recommendations for skincare, healthcare, a new car, the latest toy or where to go out to dinner? You likely sourced trusted opinions from people you know (family, friends, colleagues, etc.). While those opinions remain important, influencers have created actual communities through authentic and engaging content, so you feel like you know them, too (whether you do in real life or not).

The excellent news for brands? You can leverage influencers as a trusted source through partnerships that make sense. Here’s why you should: according to the 2024 Influencer Marketing Report from Sprout Social, 49% of all consumers make daily, weekly or monthly purchases because of influencer posts, with 30% trusting influencers more than just six months prior.

A success story

For our client, Florida Prepaid, this has translated to massive exploratory traffic and purchases of Prepaid Plans. Consider these stats for a three-month sales period earlier this year:

• 18 influencers created 450 pieces of content and drove more than 72,000 new users and over 80,000 web sessions during this year’s Open Enrollment.
• Notably, one of our influencers was the No. 10 driver of overall website traffic when ranked among all incoming traffic, including traditional organic and paid social.
• The amount Moore invested in the campaign resulted in a minimum of 223% ROI.

How creators grow appeal, gain trust

This leads us to the question: Why is this working so well? According to an Influencer MarketingHub article, 61% of respondents to a recent survey found relatable personalities most appealing when it comes to influencers. It’s the people we feel like we know who can drive significant brand awareness and action.

Consider these creators and how they work to create relationships and stay ahead:

• Brie Mazin, the personality behind the popular @FloridaYogaMama account, said she focuses on authenticity and knowing exactly who she is when you land on her Instagram account. Her most viral videos have a common thread: They revolve around storytelling and elicit emotion, including some healthy parenting debates. She shared that her content performs best when telling a story with a hook and a closing. She has built a responsive community and chooses her partnerships carefully, knowing what will resonate with her followers.
• Conversely, Jason Eadie, the internet dad to 5 million followers who posts under the handle @4KidsCallMeDad, shared with us that he stays ahead of the algorithms by analyzing the data. He does this for his content and the content of other creators so he can spot trends. He said TikTok lately has been prioritizing long-form videos when, in the past, he would try to keep content to a 35-second maximum. He also stressed the importance of knowing the different needs of your audience across various platforms. What works on TikTok won’t necessarily work on Instagram.

This marketing specialty is nuanced due to its fast-evolving nature, and you need to work with an agency that understands the dynamics. But with brands earning $5.78 for every dollar spent in this space, it’s worth the effort to learn more. With numerous proven successes, Moore is here to help you jumpstart or elevate your influencer marketing journey.