In 2014 we can expect to see growth in influencer marketing including investment in identifying influencers and in the growth of outreach strategies to engage such influencers.According to InNetwork around $240m is spent in North America each year on influencer marketing. This is a figure we can expect to grow in 2014, partly because there is so little trust in advertising, but primarily because people trust people.
Surveys have consistently shown a low a level of trust in marketing such as advertisements, with some surveys finding up to 75% people do not believe advertisements. This is in marked contrast to recommendations from other people. The 2011 Neilson survey asked people what sources of information were most relevant to them when seeking information about products and services. The response was overwhelmingly recommendations from people. Over 90% of people felt that recommendations from friends were highly or somewhat relevant to them and 75% felt that consumer opinions posted online were were highly or somewhat relevant to them. This compared to ads on social networks being down at 36%….
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