Influencer marketing is well-established in fashion and beauty with the majority intending to increase investments in this space, yet identifying the right influencer remains the biggest challenge, finds the Fashion and Beauty Monitor and Econsultancy report.
London, United Kingdom and New York, USA (26 January, 2016). Fashion and Beauty Monitor, the leading digital provider of media, PR and brand contacts, today released ‘The Rise of Influencers’ research report, conducted in association with Econsultancy. The report examines the rise of influencer marketing and the impact it has had on the fashion and beauty industry.
Findings from the report underscore the changing landscape of the fashion and beauty sector brought about by digital technology – with influencers leading this dialogue of change.
Key findings from the report include:
- 57% of survey respondents say they have an Influencer Marketing strategy in place; an additional 21% are planning to invest in it over the next 12 months. Currently a quarter are allocating between 30% and 75% of their marketing budget to Influencer Marketing.
- 84% of influencer research is carried out manually searching social media platforms and forums; 73% state identifying the right influencer is the greatest challenge.
- 59% of respondents say engaging with influencers is a challenge
- 39% of respondents are held back by budget constraints. The perception that influencers are expensive for brands with budget constraints is shared by 63% of survey respondents.
- Almost three-quarters (72%) of respondents think that relevancy in relation to subject area is more important than influencer reach.
- The majority, 85% of respondents, said email was the most effective channel to reach influencers as it allows the influencer time to review the brand opportunity and decide whether or not to respond.
- Budgets for Influencer Marketing are set to increase for 59% of respondents in 2016.
“The emergence and rapid uptake of social platforms has undoubtedly created an increased appetite for word-of-mouth marketing led by digital influencers. Yet, the report confirms there remains a disparity in the way influencer marketing is currently practiced and the massive potential there is still to leverage,” said Sarah Penny, Editor, Fashion and Beauty Monitor. “Marketers must evolve their approach towards influencers they choose to work with. In this practice – context is king.”
The report marks the next phase in Fashion and Beauty Monitor’s commitment in providing all the intelligence and insights that drive the fashion and beauty industry forward.
‘The Rise of Influencers’ report informs on the current state of influencer marketing, the opportunities and challenges of working with influencers, the trends and spends for the year ahead and influencer marketing best practices specific for the fashion and beauty sector.
The full report and infographic can be read here: http://hello.fashionmonitor.com/influencers/.
Methodology and Sample
This is the first Influencer Marketing Survey, published by Fashion and Beauty Monitor in association with Econsultancy. There were 348 marketing specialists who responded to the research request, which took the form of an online survey. Respondents included in-house brand marketers, agencies, consultants and media owners, all representing the UK and US fashion and beauty industry.
About Fashion and Beauty Monitor
Fashion and Beauty Monitor is the only digital resource which provides influencer, media, PR and brand contacts, news, events and industry intelligence - all in one convenient place.
With over 25 years of experience at the heart of the industry, the world’s most successful fashion and beauty professionals rely on our resources and passionate team of experts to plan, engage and connect in a competitive, evolving market.
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Tweet the report and infographic using the hashtag #RiseofInfluencers
Econsultancy is an international research and training group, focused on helping businesses succeed in digital. Its data and insight, best practice guides, training and events focus on improving organisations’ digital capability, effectiveness and revenue generating potential. Founded in 1999, Econsultancy supports a subscriber base of over 210,000 marketers and businesspeople at the world’s top brands and agencies; it informs their digital strategy and helps them get to grips with the what, the why and the how of all their digital initiatives. Web: http://econsultancy.com
Content Marketing Manager, Fashion and Beauty Monitor
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