Influencer marketing spend drops as trust in influencer marketing fluctuates

New Ideas in MarketingEssential news for marketers, summarised by YouGov
May 11, 2020, 12:50 PM UTC

73% of brand executives believe influencer marketing is a “murky” industry.

A survey of 60 brand executives has revealed that 37% of brands have decreased their influencer marketing spend over the last year. Another 35% have increased spending. Only 27% of executives reported flat spending.

With 73% of brand executives describing the influencer marketing industry as “murky”, trust could be a major reason for reduced spending in influencer marketing. However, 54% of the participants said they would spend more if the industry was better standardised. 50% of brands believe in influencer marketing’s ability in driving success.

65% of those polled said engagement metrics (“likes”, “comments” and “shares”) and clicks and site traffic are the most effective ways to measure influencer marketing. Identifying the right influencers and measuring influencer marketing are the biggest concerns for 58% of participants.

Read the original article

[2 minute read]