Influencer marketing continues to grow momentum as a way for brands to reach consumers. During the first five months of 2018, the top 20 brands created $659,882,860 of earned media value (EMV) according to research by InfluencerDB.
The company describes EMV as the value gained from a campaign that includes mentions, likes, re-posts, shares and reviews – in other words it’s buzz. It demonstrates how many people talked about a brand after a campaign.
According to an analysis of 900,000 posts, fashion brands led the list with Fashion Nova seeing $125,169,866 of EMV via paid and organic mentions on Instagram. The company has been focused on finding strategic influencers.
Meanwhile, LIKEtoKNOW.it ranked second with 322,845,788 likes and an overall EMV of $67,597,828.
Fashion retailer Zara came in third. Interestingly though, unpaid mentions helped the company create significant buzz on Instagram whilst paid collaborations accounted for 1% of a total $59 million.
InfluencerDB’s analysis is based on both hashtags and branded campaign references.
“The brands we see in this report, many of whom are our customers, have figured out that they have to successfully apply influencer marketing to win against the competition,” said Robert Levenhagen, CEO of InfluencerDB.
However, Levenhagen told BusinessofFashion.com that many of the most successful influencer marketing strategies weren’t focussed on the biggest influencers. Instead, he concluded that influencer marketing was like a delicate balance of being both attractive to the influencer as well as the end consumer.