Whether influencer marketing works can be controversial among brand practitioners. Linqia is an influencer platform, but in spite of the company's obvious interests, its study actually seems to shine light on the cost and effectiveness of tactics such as paying a content-creating celebrity like Logan Paul or Lilly Singh to represent a brand.
Marketers, 170 of them, from CPGs, food-and-beverage companies, media players, retailers, and agencies participated in Linqia's The State of Influencer Marketing Survey.
Here are the eight data points we found most interesting:
1. It works!
Ninety-four percent of those who used influencer marketing believe the tactic to be effective.
2. Or so it seems …
At the same time, 78 percent said that determining the ROI of influencer marketing will be a top challenge in 2017.
3. When it works, here's why
Respondents said that influencer marketing's top benefits entail creating authentic content about their brand (87 percent), driving engagement around their brand (77 percent), and driving traffic to their websites or landing pages (56 percent).
4. The cost of influencing
In 2016, most marketers spent between $25,000 and $50,000 per influencer marketing program.
5. More money for posts
The survey respondents reported those figures will double to $50,000 to $100,000 per program next year.
6. Some follow the law, some don't
Eighty-eight percent of respondents said they make sure influencers disclose sponsored content in order to comply with government regulations. In other words, 12 percent admitted to not complying with the FTC's guidelines.
7. Facebook Inc. rules
Marketers overwhelmingly said Facebook and Facebook-owned Instagram were their most important platforms for influencer endeavors. In the survey, 87 percent cited the two platforms.
8. Blogs also work
The next most important channel is blogs, with nearly half the respondents utilizing them.