CEO Evan Asano of influencer marketing company Mediakix recently featured a new infographic on Convince and Convert, outlining Instagram’s influencer market size. The infographic outlines the massive projected growth for Instagram’s influence for marketers, set to increase drastically in the next few years.
In our podcast with Mediakix’s head of marketing Jeremy Shih, we dove into how brands measure ROI on platforms like Instagram, YouTube, and Snapchat, as well as challenges marketers face in determining the right amount of budget to spend advertising on these channels. The most frustrating part for marketers is discovering which influencer channel to experiment on, especially when new platforms like Music.ly and Live.ly enter the ring and show promising success—but without clear factors on how.
What helps us marketers is research around how users are engaging and posting on these channels, so we can thoughtfully and intelligently craft marketing campaigns for experimenting on channels we know can help boost our brand and reach. Take a look at some of the stats from Mediakix’s latest infographic for insight into how much influencer marketing Instagram will generate in the next few years:
Instagram influencer marketing could reach $2B by 2019. Mediakix determined this by “studying the number of sponsored posts on Instagram tagged by FTC required hashtags, #ad and #sponsored, as well as often used hashtags #sp and #spon”. (via Convince and Convert)
Influencer marketing on Instagram alone will generate over $1 billion by the end of 2017. Mediakix configured this from finding that “the average follower size for accounts posting sponsored content was 32,000. Given an average $10 cost per thousand impressions (CPM), we ended up at an estimated $320 per post and an estimated total monthly spend of approximately $90 million. This would put the overall total annual spend at over $1 billion.” (via Mediakix’s blog)
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