SOCIAL-MEDIA INFLUENCERS BUSINESS: SOARING
April 24th 2019 at 4:58pm Published by firstdownadmin
The advertising business has dramatically changed with brands willing to allocate more and more marketing dollars to social media than ever before. Data shows that businesses can experience an almost immediate increase of sales through one social media sponsored blog or Instagram photo, rather than a traditional ad campaign that can take months to develop, launch and support with more ads. Social-media influencers are cashing in, their income soaring, as platforms as upgraded to support all traffic. Here’s some data:
- The average price for a sponsored Instagram photo has risen from $130 in 2014 to more than $1,600 in 2019.
- For a sponsored blog post it soared from $7 in 2006 to $1,400 in 2019.
- YouTube videos are the most sought after by advertisers, up from $400 in 2014 to $6,700 in 2019.
- A Facebook status update has risen from $8 in 2014 to $400 in 2019.
- A Twitter post was $30 in 2014 and now is $450 in 2019.
- Blog posts have risen from $400 to $1,500.
This still does not mean that traditional advertising is dead, social-media marketing still relies on a brand’s image branding and image awareness, and that is mostly supported by conventional marketing channels. Social-media influencers are the word-of-mouth equivalent in digital marketing. Companies must also support these efforts with other types of advertising to create longevity.
With all its popularity, social-media influencers are facing some hurdles. Regulators are enforcing consumer laws like with weight loss posts and forcing platforms to create more technology to monitor full disclosure when a post is sponsored or not.
Brands will continue to pour into social-media advertising, which is expected to reach $10bn by 2020.
Top social-media influencers in all industries: