Influencer campaigns used by marketing professionals on the global scale in the luxury, fashion and cosmetic industries continue to drive brand awareness, improve customer loyalty and drive sales according to an in-depth Launchmetrics study released yesterday. And marketers are timely when choosing their campaign efforts with 42% of respondents waiting upon the release of a new product before turning to influencers.
Micro is the New Macro
When assessing the 2017 marketing campaigns in the luxury/fashion/cosmetic verticals; 78% of marketers used an influencer. And the most effective influencer was not Kim Kardashian 😊 but the micro-influencer (10K-100K followers) according to 46% of marketers. Micro-influencers offer better loyalty and engagement from their core audiences and marketers are taking full advantage especially since they come cheaper than the celebrity.
Brands Influence the Influencers
When influencers create content, their top social media channel continues to be dominated by Instagram (99%). And mostly due to sponsored posts (their main source of income), influencers saw sharp increases in revenue for 2017 with 1 in 3 influencers reporting 50% revenue growth with only 4% of influencers reporting a revenue reduction.
However, money isn’t the only form of compensation influencers would be interested in. They also reported interest in obtaining trips, gifting and samples (46%) as part of the business arrangement with brands. Even more starkly, if influencers truly admired the brand, 45% stated they would do it for free of charge.
For a more in-depth analysis of the influencer marketing industry, please refer to Quantum Stat’s “Influencer Marketing and Future Trends” report available with a Premier subscription