THE EFFECTIVENESS OF THE INFLUENCER MARKETING

Savica Dimitrieska () and Tanja Efremova ()
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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

Economics and Management, 2021, vol. 18, issue 1, 109-118

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.

Keywords: Influencer marketing; Internet promotion; Influencer marketing effectiveness; marketers; recommendations; Influencer platforms (search for similar items in EconPapers)
JEL-codes: M31 M37 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:neo:journl:v:18:y:2021:i:1:p:109-118

DOI: 10.37708/em.swu.v18i1.9

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