In a world where over 200 million pieces of content are uploaded to the internet every single minute, the fight to rise above the noise is every marketer’s challenge. But a new weapon has emerged in the battle for online attention: influencer marketing, a channel born out of several trends converging at the same time.
First, we have the proliferation of social media, which now collectively boasts over 2.3 billion active users. For perspective on that number, there are less than 2 billion smartphones in the entire world right now. Facebook drives nearly 25% of all referral traffic on the entire internet!
Second, traditional advertising spend is on the decline, due in part to cord-cutting younger demographics spending less and less time watching television or reading newspapers and magazine.
Third, while digital ad spend is growing every single year – it is set to overtake TV for the first time in 2016 – its effectiveness is continually being called into question. The average click-through rate (CTR) for display ads is reported at 0.06%. In light of the recent news that Facebook was misreporting its video metrics to marketers, some wonder if we know as much about digital advertising as we hope.