YouTube Influencer Marketing Report
The State of the Influencer Marketing Industry & The World’s Largest Video Platform
With 2.3 billion active users monthly and 79% of users having their own account, YouTube is the second largest social media platform and the second largest search engine in the world. With YouTube’s domination over other social media marketing channels, it only makes sense that brands would look to a YouTube influencer for the best return on investment with their influencer marketing campaigns.
But, before you invest in an influencer campaign on YouTube, it is crucial to have an understanding of what a YouTube Influencer is and how an influencer marketing strategy can benefit your business. Let’s take a deeper look into why the YouTube influencer marketing global spend was so high, and why marketers are turning to these powerful campaigns.
What is a YouTube Influencer?
An influencer, in broad terms, is an individual — whether a celebrity or someone with a large online following — that has an engaged following. There are different categories of influencers, from micro influencers (100-10k followers) all the way up to mega influencers (1m follower or more).
Are The Influencers With the Most Reach a Better Investment?
Surface level, it may seem that a YouTube influencer with a larger following would have the best media value, but this is not always the case. The most important metric in influencer marketing events is engagement rate, and how this ties in to your brand. Brands in a very niche industry will likely see better results from a nano influencer in their niche than a mega influencer with a more generalized audience. It is important to do in-depth research on the communities that a YouTube influencer appeals to before investing any money in an influencer marketing campaign.
Are YouTube Influencers a Good Marketing Investment?
Influencer marketing campaigns are one of the fastest growing marketing methods, and according to Statista’s YouTube influencer marketing global report, brands are seeing significant enough returns to continue their investments. But, your campaigns are only as good as the influencers, strategy, and content behind them.
A good influencer marketing campaign includes several components:
Quality of content
Video content is one of the top forms of marketing, but this means an increase in competition. Consumers are flooded with social media content. For your influencer marketing campaign to reach the max ROI, the quality of the content needs to be top notch.
A strategy is only as strong as the way in which it is executed. Influencer marketing campaigns should be planned meticulously in a way that supports a brands’ overall objectives. Content released too early, too late, or out of order can plateau influencer marketing results.
Quality of the influencer
It is important for brands to be wary of the people and platforms they tie themselves to. An influencer involved in multiple scandals or who delivers content inconsistent with your brand’s core values can damage the reputation of your company.
Influencer marketing is powerful, but the supporting strategy must be equally as powerful. YouTube is huge, but having a content support plan on additional social media adds an additional layer of success.
The success of your campaign doesn’t rest fully on the influencer’s reach. The strength of your overall marketing plays an integral role. The strength of your website, social media platforms, and offer make a significant difference. If the audience goes from the influencer’s YouTube to your channels and don’t find the same quality and value, or even clear contact information, your effort will be wasted.
A brand can absolutely plan and implement a campaign on their own, but the chances of that campaign being a success is heavily reliant on those behind the strategy. Many marketers are unaware of the nuances associated with this type of marketing, such as how to source talent, how to approach the talent and pitch, and how much to invest.
How Does YouTube Influencer Marketing Support a Brand’s Digital Growth?
Let’s take a look at some of the most crucial YouTube statistics:
- YouTube gets an average of 30 million visits per day, with nearly 5 billion videos watched
- In any given month, 8 out of 10 millennials consume content on YouTube
- The number of video hours uploaded to the platform is 300 hours per minute
- 80% of YouTube video views originate from outside the United States
- Mobile users account for 1 billion total video views per day
- The average user spends 40 minutes at a time on the platform
With this kind of data, it’s clear that videos are one of the top ways for a brand to reach a wide audience — and almost instantly. But, the amount of reach that videos get isn’t the only way that YouTube influencer marketing can boost a brand.
Influencer campaigns create a ripple effect
Marketers see the effects of their influence campaigns months and even year later. Brand awareness is a powerful tool, but capturing the attention and data from the influencer’s audience makes every dollar spent on influencer marketing that much more worth it.
The action an audience takes after seeing your campaign is just as important as the campaign itself. If the call to action is to go to the brand’s other online assets, brands see an increase in engagement on their other social media content, bringing in a brand new audience. This influx of people signals to algorithms that your content is important, therefore pushing your pages closer to the top of search results. More and more people begin to find your content, interact, and the cycle continues.
Influencer campaigns amplify the know, like, and trust factor
Besides the possibilities for account growth, the brand recognition improves the ‘know, like, and trust’ factor of your brand, influencing sales in the future. The results have been the same across multiple studies: it takes an average of 7 times of seeing an advertisement before the potential customer is ready to make a purchase. Broad awareness is the first step.
What Size Influencer is Best For a YouTube Influencer Campaign?
While the 2020 YouTube influencer marketing global report showed staggering growth (even with the impact of COVID 19) that doesn’t mean brands should immediately go all-in on their influencer marketing. Influencer marketing is a complex content marketing method that requires strategic planning and research.
All YouTube influencer marketing is not created equal; brands must find a influencer that is within their industry, tapped into their market, and produces video content on part with the brand guidelines.
There are several categories of influencers, and each are suited to different brands and objectives. There are influencers that are specific to gaming, there are influencers specific to tech, food, and even influencers that teach how you to get social media resources. There is an influencer out there for nearly all industries. But, the best YouTube influencer marketing partner isn’t necessarily measured by the amount of followers they’ve collected.
For example, the smallest level of influencer, nano influencers often serve very niche industries. If your industry is highly specialized, brand partnerships with this size of influencer might get you the best ROI. On the other end of the influencer spectrum are the mega influencers with over 1M followers. These influencers can generate better results for brands that serve wider audiences.
How many people influencers reach isn’t as important as the relevance of the video the audience.
How Much Money was Spent on 2020 YouTube Influencer Marketing?
In 2020, influencer marketing global spend reached 1.4 billion dollars within the first three months of the year, and is estimated to have reached 6.6 billion dollars by year’s end. Given that influencer marketing spends on YouTube increased by 1.1 billion dollars between 2019 and 2020, there is a great likelihood that this number will only increase.
Influencer marketing is a strategy that generates results in both the short term for the long game. Because YouTube videos can be viewed over and over again, laser targeted influencer campaigns can generate results for years to come.
How Do Influencer Marketing Agencies Play Into the YouTube Influencer Economy?
Influencer marketing agencies consist of specialized marketers who have an in-depth understanding of the influencer industry. Because many influencers are more likely to work with established agencies than directly with brands, brands are able to leverage an influencer marketing agency’s relationships to create those brand partnerships.
An agency specializing in this type of marketing understands the value that influencers provide, and know how to approach, pitch, and cement brand partnerships for exactly what the influencer is worth.
Influencer campaigns can be a significant investment, depending on the industry and the scope of the project. Use your marketing budget wisely and ensure that your campaign is as successful as it can be.
YouTube Influencer Marketing: Global Impact from a Single Platform
Young adults have the buying power, and this generation’s reading time and overall attention span is dwindling quickly, forcing marketers to pivot and create more video content.
In 2020, YouTube influencer marketing proved to brands that influencer marketing can have a global impact with even just a single campaign. Will the influencer marketing global spend report mimic that of last years? The data shows a strong trend. Smart marketers are adapting and planning for the future.
HireInfluence: From Ideation to Implementation
As a world-renowned influencer marketing agency, we have created campaigns for some of the biggest brands in the world. Our team delivers fully managed, brand-forward campaigns to generate the brand awareness, and ultimately, bottom-line results your organization needs.
Ready to elevate your marketing campaigns? Contact a member of our team today and find out why international brands choose HireInfluence as their influencer marketing partner.