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Almost 60% of fashion and beauty brands have an influencer marketing strategy in place, while a further 21% plan to invest in it over the next 12 months.
This is according to a new Fashion & Beauty Monitor report in partnership with Econsultancy, The Rise of Influencers, which explores the role influencers play in the fashion and beauty industry.
It contains plenty of insight and analysis around influencer marketing to get your teeth stuck into, but for now I’m just going to cover some interesting stats that came out of the research.
84% of influencer research is carried out manually
The vast majority of marketers simply search social media platforms and forums when looking for influencers within their industry.
Q: Which tools or methods do you currently use to identify influencers when using them as part of your marketing strategy?
But with 73% saying that identifying the right influencer is the greatest challenge, and 59% saying they find it to be a difficult and time-consuming task, processes clearly need to be ironed out.
I wrote a post last year about how to find influencers, which you may find useful if you’re currently struggling with this task.
59% say engaging with influencers is a challenge
With an increasing number of fashion and beauty brands realising the importance of influencers, naturally the competition is becoming tougher. And with so many brands vying for their services, influencers can afford to be picky.
This is reflected in the fact that 59% of respondents say getting an influencer’s attention and being able to engage them is an ongoing challenge.
We recently published a Q&A with three YouTube influencers and asked them how they like to be approached and what they look for in a brand.
39% are held back by budget constraints
A lack of budget is the primary reason why brands are yet to carry out influencer marketing.
63% of respondents think influencers are too expensive for brands dealing with budget constraints.
69% say product launch is top priority
Helping to launch a new product is the primary role influencers play in fashion and beauty brands' marketing strategies.
27% say product launch is 'critical' when it comes to influencers, while 42% say it is 'very important'.
Q: What role do influencers currently play in your marketing strategies?
72% say relevancy is more important than reach
Context is king, according to our respondents. Almost three quarters would take subject area relevancy over an influencer’s reach.
Just 30% believe reach is more important, so it seems quality wins over quantity.
85% say email is the most effective channel to reach influencers
The vast majority of respondents believe the humble email is the best channel through which to reach influencers because it allows the influencer time to review the brand opportunity and decide whether or not to respond.
59% say influencer marketing budgets will increase this year
Budgets for influencer marketing are set to increase for almost three-fifths of fashion and beauty brands in 2016.
Only 2% of respondents predict their influencer marketing budgets will fall.
Download the full report today for lots more insight about influencer marketing.