This big picture/little picture way of thinking is invaluable to any leader in the enterprise, especially those driving transformation. Macroeconomics is just the sum of all the microeconomic activity occurring in the market, but it is helpful to learn them separately first, then make the connections so one can be knowledgeable, no matter where you find yourself operating within this continuum. Reach (which calculates how many accounts an influencer's content will reach) was the second most important metric, with 53% of respondents naming it as a top measure of success.In my Economics education, the curriculum was divided between courses that schooled me in how market phenomena worked at an individual level (microeconomics) and those that taught how to think about the aggregate, system-level forces in the economy (microeconomics). Engagement rates help brands understand how much of an influencer's audience interacts with their content.Īccording to the survey, 69% of marketers said that engagement rates are the most important KPI. Linqia asked marketers to choose their "top three measures of success" for influencer-marketing campaigns, which revealed that engagement rates still reign supreme. Engagement rate is still the most common way to measure the success of a campaign. "For a lot of brands, it comes down to, are you truly trying to influence consumers? Are you trying to build really cool content? And if you're just trying to build really cool content and it's about your channels and your marketing, and it's not about influence necessarily, then the reach of the person doesn't matter." 5. "This is where that whole influencer versus creator conversation happens," Bendes said. Fifty-eight percent of survey respondents reported that they were working with creators in this way. Over half of brands are using creator-generated content for their own social channels.Ĭreator-generated content (also known as user-generated content, or "UGC"), where a creator makes content for a brand that will exclusively live on the brand's own channels, is appealing to brands. "I think it's telling that despite all the innovation and everything we do in this industry, finding the right creator partners is still one of the biggest pain points brands have," Bendes said.Ībout 65% of marketers also said that they'd like to see AI streamline performance analytics for influence marketing. When asked about AI's potential impact on the influencer-marketing industry, about 72% of brands said they would like to see it help them identify the right influencers for campaigns. Most brands hope AI will help them identify the right creators to work with. The percentage of marketers who are hiring celebrities for influencer marketing deals also more than doubled between 20 - from 14% to 29.5%, according to Linqia's data. Meanwhile, more brands said they plan to hire macro influencers for their campaigns this year, increasing from 72% in 2021 to 81% in 2023.īendes said micro-influencer rates have gone up over the past two years, and in some cases, they charge almost the same amount as macro influencers.īut micro influencers haven't lost their appeal completely, and there's still a high demand from brands for their work, he added. This year, the tables have turned - dropping to only 74% of marketers. In 2021, 90% of marketers said they planned to leverage micro influencers in their campaigns, according to Linqia. Brands are looking to work with macro influencers, who gained popularity over micro creators. "It's a much bigger spend, it's a much bigger part of an integrated strategy," Bendes said. On the flip side, 15% of marketers reported budgets of $100,000 or less, per the survey. Influencer-marketing budgets continue to increase despite economic headwinds.Ībout 76% of respondents said their influencer-marketing budgets had either increased or remained the same versus the prior year.īreaking that down even further, 18% of respondents reported seven-figure budgets for influencer marketing in 2023. Linqia surveyed over 250 enterprise brand and agency marketers in July for the report. They want more meaningful partnerships with influencers." "When you go deeper, it's way harder to do that with a ton of volume. "Brands want fewer, bigger, better - they're really investing in deeper relationships with influencers," he told Insider. This story is available exclusively to InsiderĪnd start reading now. Account icon An icon in the shape of a person's head and shoulders.
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