Report: Marketers are Budgeting More for Influencer Marketing than Ever Before
Influencer marketing has not always been a staple in marketers’ overall strategies, but new research suggests that it is becoming more prominent as time rolls on.
The “State of Influencer Marketing 2019” report published by Linqia recently discovered that 66 percent of marketers ran three or more influencer marketing campaigns last year, and 42 percent now have an “always-on” strategy. In addition, 74 percent of marketers use influencer content in other channels, and 57 percent claim that the content outperforms brand-created content.
For 2019, most marketers (22 percent) claim that they have an annual influencer marketing budget of between $250,000 and $500,000. This is compared to just 16 percent who said the same last year.
About 17 percent of marketers say that they have an annual influencer marketing budget of more than $1 million.
The Explosion of Influencer Marketing
Although marketers have not always invested heavily in influencer marketing, previous research hinted that it would become a growing, prominent sector.
The “2018 State of Branding Report” from Bynder and OnBrand found that 79 percent of marketing decision-makers intended to invest in influencer marketing in the coming months at the time. About 43 percent claimed that they would invest more than they had in the past, while 22 percent were looking ahead to investing in influencer marketing for the first time.
Back in 2018, influencer marketing (42 percent) was one of the most popular trends that marketers were excited to explore.