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Marketers to Increase Influencer Marketing Budgets

Marketers to Increase Influencer Marketing Budgets

PerformanceIN

While budgets are increasing, transparency around the influencer marketing channel still looms.

The influencer marketing channel continues to strive as an avenue for advertising and marketing performance with 62% of marketers set to further grow their budget in 2018, according to findings from an Activate study in March.

In addition, over half (61%) of influencers said they enjoyed more sponsored partnership opportunities in 2017 than they had 12 months ago.

The study, however, found that influencers work with brands in different ways with 49% organically posting about brands before engaging in a paid sponsorship with them.

38% said they are provided with comprehensive brand guidelines to adhere to while 36.7% work on branded campaigns to raise awareness.

29.6% are often asked for an opinion by brands on content for campaigns whereas only 21.6% worked on branded campaigns if they lead to a sales conversion.

“Influencers are people, not ads,” said eMarketer’s principal analyst Debra Aho Williamson. “They know their audience really well, and not allowing them to bring that knowledge into a marketing partnership is a mistake.”

Transparency debate

While the study states that the majority of marketers are growing their influencer marketing budgets, there continues to be a debate around the transparency of the ecosystem with Unilever’s CMO Keith Weed calling for “urgent action” to clean up the influencer marketing ecosystem.

From a customer perspective, many want more clarity from brands and influencers when it comes to working on campaigns and promoting branded products.

Promotions agency Prizeology found in the UK that 88% of customers want to be made aware when an influencer is being paid to promote branded products online, while 57% want to further understand how they are being influenced by brands and influencers.

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Mustafa Mirreh

Mustafa Mirreh

In addition to managing editorial on PerformanceIN, Mustafa reports on the latest day-to-day news updates from the world of digital marketing, while also doing social media promotion, live reporting of events, article features and interviewing key industry players and stakeholders.

Based in Bristol, Mustafa graduate with a marketing degree before delving into the world of music journalism through self-starting an online blog and collaborating with other publications. Now he has joined the PI team and has set his sights on succeeding in digital marketing.

Read more from Mustafa

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