Influencer marketing continues to prove an effective form of marketing for brands with 42% of US marketers having used the marketing strategy in the past 12 months. The majority of marketers (62%) are already using content marketing approaches, followed by online display ads (49%) and 16% also tested celebrity endorsements.
Based on the answers of 606 client marketers, 242 influencers and 1,000 consumers, the State of the Creator Economy survey by IZEA found that sponsored Facebook updates were still the dominant influencer marketing approaches. However, sponsored videos were on the rise at +6% compared to 2017, whilst sponsored photo content had declined -1%.
When it comes to celebrity endorsement strategies, around 27% of marketers were using traditional celebrities, whilst 21% had opted for web celebrities.
Marketers consider content quality, traffic, media metrics and the creator’s reputation among the most important factors in choosing an influencer. Objectives range from creating engagement and awareness to direct sales or indirect sales.
When it comes to effectiveness, marketers agree that content and influencer marketing are working, whilst newspaper and magazine advertising are not having the same effect.
As influencer marketing continues to gain traction and is now considered a more effective strategy, marketers are allocating budgets toward such campaigns. Indeed, 73% of surveyed marketers do have an influencer marketing budget.
Interestingly, 84% of content creators agree that marketers should act a lot or somewhat as publishers.
“The four-year trends show steady perceptual gains for Influencer Marketing, while at the same time, traditional advertising approaches show a continued flat line or downward effectiveness trend line,” said Ryan Schram, Chief Operating Officer of IZEA. “We believe this demonstrates an incredible opportunity for brands and creators alike to connect with consumers by developing engaging, sharable content in the years ahead. Authentic, original content is what is driving results for Marketers and engaging Consumers.”
From the influencer’s perspective, creators are now mostly using Instagram, Facebook and Twitter to promote posts and products. Snapchat is still only used by 11% of surveyed influencers.
Among the main factors influencers consider when sharing content are fit with the rest of the content, audience relevance and compensation fitting needs.
Interestingly, from the consumer perspective, TV commercials appear to still be the most effective ad format, followed by online and digital radio and podcasts, online magazines and social media posts.