Linqia’s 2023 State of Influencer Marketing Report Shows an Evolving Industry
Brands and agencies show budgets are increasing, strategies are evolving, and influencer content is being used everywhere
Linqia, the calm in the chaotic sea of influencer marketing, today released its 2023 State of Influencer Marketing report, revealing how brand and agency marketers are investing their influencer marketing budget and their biggest challenges.
The report is an analysis of the results of the 2023 State of Influencer Marketing Survey, which was completed by more than 250 enterprise and agency marketers across a variety of industries, including CPG, retail, finance, QSR and major media agencies. Companies that participated in the survey include Pepsi, Clorox, Canva, Best Buy, Home Depot, and H&R Block.
The data revealed a heightened interest in influencer marketing, the need for measurement, and an interest in AI and other technologies to support campaigns. More specifically, survey data demonstrated that:
- Budgets are increasing. 75.5% of respondents’ budgets either increased or remained unchanged vs. the prior year, with 18% of respondents spending seven figures or more on influencer marketing in 2023.
- More brands are using influencer content in more places. 97% of respondents are using influencer content outside of organic influencer posts, with paid social and owned social listed as the top channels, followed by website, email, display, CTV, and OOH.
- Media is a critical component of influencer budgets. 65% of respondents are spending at least half of their influencer budgets on media amplification.
- ROI remains the top challenge. 60% of enterprise marketers cite measurement as their top challenge, a trend that continues from Linqia’s previous State of Influencer Marketing report.
- AI, Threads, and CGC make their first appearance. Brands want to leverage AI to better find the right influencers, a surprising number of marketers plan to execute with influencers on threads, and creator-generated content is quickly emerging as a budding category in influencer marketing.
“The report shows that Influencer marketing is now considered a critical component of an integrated marketing strategy for many brands,” commented Linqia co-founder Nader Alizadeh. “With the increased complexity of more social channels, more influencer types, more content options & larger budgets, it’s critically important for marketers to seek experienced full cycle partners to drive meaningful impact. Linqia’s ten years of enterprise Influencer experience does the heavy lifting for our partners.”
Goldman Sachs recently estimated that the creator economy could approach half a trillion dollars by 2027. As budgets increase for influencer marketers, so does the pressure to effectively measure performance. The 2023 State of Influencer Marketing report offers important quantitative data and peer input to help marketers understand the evolving landscape.
About Linqia’s 2023 State of Influencer Marketing report
Over 250 enterprise marketers and agency professionals participated in the 2023 State of Influencer Marketing Survey from June through July 2023. Participants represented a variety of industries, including CPG, retail, finance, QSR, and major media agencies. Companies who participated in the survey include Pepsi, Clorox, Canva, Best Buy, Home Depot, H&R Block, and more.
About Linqia
Linqia is the calm in the chaotic sea of influencer marketing. We are a full-service, tech-enabled partner that handles campaigns for the world’s leading brands from influencer selection to creative strategy to scale. While some influencer companies offer only technology and others operate as creative agencies, Linqia leverages both science and storytelling to help brands create emotive, human-first campaigns. Founded in 2012, Linqia has worked with over 650 leading national brands, including Clorox, McDonald’s, Anheuser-Busch, GM, and Bayer. For more information, visit https://www.linqia.com.
