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Influencer-Marketing-Benchmark-report-July-2024

The July 2024 Influencer Marketing Benchmark Report highlights the increasing role of AI in enhancing efficiency and personalization, with 54.8% of marketers supporting its use. The report indicates a significant shift towards micro and nano-influencers, with 43% of marketers reallocating budgets to these smaller influencers for authentic audience engagement. Additionally, long-term partnerships and alignment with brand values are emphasized as crucial strategies for successful influencer marketing.

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0% found this document useful (0 votes)
35 views26 pages

Influencer-Marketing-Benchmark-report-July-2024

The July 2024 Influencer Marketing Benchmark Report highlights the increasing role of AI in enhancing efficiency and personalization, with 54.8% of marketers supporting its use. The report indicates a significant shift towards micro and nano-influencers, with 43% of marketers reallocating budgets to these smaller influencers for authentic audience engagement. Additionally, long-term partnerships and alignment with brand values are emphasized as crucial strategies for successful influencer marketing.

Uploaded by

Eva Lu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Influencer Marketing

Benchmark Report
July 2024
Our July 2024 report highlights the growing importance
of AI in influencer marketing, with 54.8% of marketers
favoring it for increased efficiency and personalized
Table of Contents interactions. In a survey of 237 marketing professionals,
Handpicked Trends and Finding the findings emphasize a shift towards micro and nano-
AI is changing Influencer Marketin influencers as key players for brands aiming to connect
authentically with niche audiences. The report delves
Nano and Micro Influencer
into the evolving landscape, where technology and
Long-Term Partnerships with Influencer authenticity are crucial for brands to succeed in the
Spotlight on Ubiquitou competitive digital environment.
July Trends in Influencer Marketing
Challenges in Influencer Marketing
New Opportunities in Influencer Marketin
Emerging Trends in Influencer Marketing
Methodology and Data Transparency

Instagram 34m ago


Luke just liked your story

Facebook 32m ago


You have a new message

Whatsapp 31m ago


There is some news

Snapchat 29m ago


Hi there!

22
Editorial Team’s Handpicked
Trends and Findings
54.8% of marketers view AI positively.

43% of marketers are using more micro and


nano-influencers; 24.9% are shifting budgets from
macro to micro/nano influencers.

34.6% of marketers focus on regular


communication; 15.6% on exclusive
collaborations.

Over 30% of budgets increased by 25.0% to 24.5%,


while less than 10% saw a rise from 42.0% to 44.3%

38% of marketers use surveys and feedback;


21.9% monitor social media sentiment;

20.3% track brand mentions.

20.7% have adopted TikTok Branded Hashtag Challenges;


20.3% use TikTok Shop.

36.7% are concerned about AI influencer’s authenticity;


19% worry about consumer mistrust.
3
AI is changing Influencer Marketing
faster than ever
AI is transforming influencer marketing by optimizing
influencer identification, content creation, and campaign
performance, as highlighted by Majid Bahi, CEO of Socially
Powerful.

Even Mark Zuckerberg recently predicted that there will be


“hundreds of millions or billions of personalized AI
agents, probably more than the number of humans

on earth.”

AI integration in influencer marketing is now crucial, with


54.8% of marketers favoring it for improved efficiency and
personalized interactions, signaling a major industry shift.

4
Nano and Micro Influencers as the
New Kings of Influencer Marketing

Our latest survey reveals that 43% of marketers are


increasingly leveraging micro and nano-influencers,
reallocating budgets away from larger, less personal
influencers. This shift highlights the value of smaller
influencers, whose strong connections with audiences
drive authenticity, as 69.2% of respondents prioritize
brand value alignment.

The high engagement rates and trustworthiness of micro


and nano-influencers make them popular choices. Their
content resonates deeply with niche audiences, leading
to more interaction compared to macro or mega
influencers, which is why 24.9% of marketers have
reallocated budgets accordingly.

5
Focus on Long-Term Partnerships with
Influencers is Key

Influencer marketing is shifting towards long-term


partnerships, increasing ROI significantly. This trend
emphasizes the importance of building trust and
authenticity through consistent messaging and
engagement.

Regular communication (34.6% of marketers) and


exclusive collaborations (15.6%) are key strategies,
aligning with the trend towards meaningful interactions
that foster loyalty. Consistent messaging and regular
engagement help reinforce brand values and strengthen
influencer connections, enhancing brand authenticity
and engagement.

6
Top Influencer Marketing Strategies &
Tactics by Ubiquitous

This month, we turn our spotlight on Ubiquitous, a leading


influencer marketing agency renowned for its innovative and
effective strategies. Ubiquitous has consistently demonstrated
an exceptional ability to deliver remarkable results for their
clients.

Their approach offers valuable insights into the dynamic world


of influencer marketing, setting a benchmark for excellence
and creativity in the industry. By examining their most
thought-provoking strategies and tactics, drawn from multiple
case studies, we uncover the secrets behind their success.

7
Precision in Influencer Selection
Results of Data-Driven Influencer
Selection
Litter Robot
Early Engagement and Strategic Planning
Campaign
Proactive Campaign Preparation

66.6M views Six-figure


revenue
Three months before Generated 93,000
product launch site visits

Zilla
Campaign

9.2M views 58,000 paid clicks

8
Multi-Platform
Campaign Execution

60%
Instagram and TikTok

25-30%
YouTube

Creative Content Guidelines


What Happens When You Give Structured Freedom for Influencers

Bloom
Litter Robot
Campaign Campaign

5.5+ million $1.47 CPM 68.1 million $7.27 CPM


views views

9
Innovative Content Formats and Tactics

Embracing New Content Trends - TikTok Spark Ads

Hers Campaign

Impressions
Impressions
Impressions New
NewUsers
Users
5+
5+million
5+ million
million 11,000
11,000

Strategic Multi-Wave Campaigns

AutoSky’s Two-Wave
Campaign Results

Impressions
Impressions Engagement
New Users Rate
21million
5+ million 10.6%
11,000

10
8
Addressing Advertising Challenges with Creativity

Navigating Strict Regulatory Constraints

Hers Campaign

3.4+M impressions
$5 CPM

Long-Term Influencer Partnerships

Fostering Long-Term Relationships

Nightcap
Campaign

65M views from 51% increase in


a single video web traffic

11
Leveraging Controversy and Engagement

Using Controversial Content for Higher Engagement

Nightcap Campaign

Pinning a controversial Additionally increased


Impressions
Impressions
comment led to 800+ New
visibility Users
and
5+
5+million
responses million 11,000
engagement

Seamless Integration of E-commerce

DTC Marketing on
TikTok for Gratsi

CPM
Impressions
New Users Views
Impressions
21$1.69
million
11,000 7.5
5+million
million

12
8
July Trends in Influencer Marketing 

Allocation of Marketing Budget to Influencer Marketing

Allocation of Marketing Budget to Influencer Marketing

June
Compared to last month's report, we observe that the
Less than 10%: 44.3%
budget allocation remains relatively stable, with a slight

increase in the proportion of marketers allocating more


10-20%: 19.4% 24.5%
than 30%. 

21-30%: 11.8% 44.3%

11.8% The slight increase from 42.0% to 44.3% for "Less than

10%" and from 25.0% to 24.5% for "More than 30%"


More than 30%: 24.5%

19.4% suggests a marginally cautious approach overall but still

indicates confidence in the significant ROI yielded by

influencer marketing. 

July The decrease in mid-range allocations (10-30%) suggests

a slight consolidation either towards conservative or


Less than 10%: 42.0%
aggressive spends.

10-20%: 20.5% 25.0%

42.0%
21-30%: 12.5%
12.5%

More than 30%: 25.0%


20.5%

13
Measuring the Impact of Influencer
Marketing on Brand Trust
Diverse methods are employed to gauge the impact of
influencer marketing on brand trust, reflecting varied priorities.

Approaches to Measuring Influencer Marketing's Impact on Brand Trust

38%

21.9% 20.3%

16% The reliance on direct customer feedback and social


media sentiment analysis suggests a focus on real-
time, qualitative metrics over purely quantitative
3.8%
approaches. This varied measurement strategy
indicates an evolving understanding of trust metrics
Surveys and Monitoring Analyzing Other Tracking repeat in the digital age.
feedback from social media brand methods customer

customers sentiment mentions and rates


discussions

14
Impact of Micro and Nano-
Influencers on Marketing Strategies
The influence of micro and nano-influencers continues to reshape marketing strategies, reflecting a
broader industry shift towards authenticity and niche targeting. The rise of micro and nano-
influencers is significantly altering marketing strategies.

The Shift to Micro and Nano-Influencers: Impact on Marketing Strategies

14.8% Increased use of micro and


nano-influencers: 43%

Shifted budget from macro/


43% 17.3%
mega influencers to micro/
nano influencers: 24.9%

No significant impact: 17.3%

24.9% Other impacts: 14.8%

6,819 837 137

15
Role of Employee-Driven Influencer Programs

The significant use of employees as


influencers indicates a trend towards
leveraging existing organizational assets for
authentic internal and external engagement.
This trend is known as employee advocacy.

The substantial consideration for future


implementation points to untapped potential
in this strategy.

Role of Employee-Driven Influencer Programs

Major role, actively use employees as influencers


13.1%
Moderate role, occasionally use employees as influencers

Considering implementing in the future


32.9%
15.2% No role

Minor role, rarely use employees as influencers

19%
19.8%
This trend is known as employee advocacy

16
Importance of Aligning Influencers
with Brand Values
A combined 69.2% of respondents view alignment with brand values as either extremely or very
important. This underscores the critical role of value congruence in fostering genuine and credible
influencer partnerships.

Importance of Aligning Influencers with Brand Values

Slightly
important
9.7%
Moderately
important Extremely
9.7% important
Not 35%
important
11.4%

Very
important
34.2%

17
Perspective on the Use of AI in
Influencer Marketing
The predominantly favorable views towards AI
suggest a strong belief in its potential to enhance
influencer marketing efficiency and effectiveness.
However, the notable minority with unfavorable
views highlights ongoing concerns and challenges
in AI integration.

Views on AI Integration in Influencer Marketing

39.2%

30.4%

15.6%

8.9%
5.9%

Highly
Neutral Favorable Unfavorable Highly

favorable unfavorable

18
Primary Concerns with AI-Powered
Influencers and Ads
Authenticity and consumer trust are primary concerns
related to AI-powered influencers. This underscores the
importance of maintaining genuine engagement and
ethical considerations in the use of AI technologies.

Marketers' Concerns About AI-Powered Influencers and Ads

Lack of authenticity 36.7%


Potential for consumer
mistrust: 19%

Ethical concerns 13.5%


about AI use:
No significant 12.7%
concerns:
Difficulty in measuring 11.4%
effectiveness:

Other concerns: 6.8%

19
Strategies for Addressing Authenticity Concerns
Strategies for Ensuring Authenticity in Influencer Marketing
Various strategies are implemented to ensure
authenticity in influencer marketing
campaigns. The varied approaches reflect a Thorough vetting of 24.1%
comprehensive strategy to maintain influencers

authenticity, emphasizing rigorous vetting, Monitoring influencer’s


15.6%
engagement with
continuous engagement monitoring, and
followers
fostering genuine storytelling.
Ensuring content aligns 13.5%
with brand values

Encouraging authentic 12.2%


storytelling

Prioritizing long-term 10.1%


partnerships

Other strategies 7.6%

Using influencers with


7.2%
proven track records of
authenticity
Collecting and analyzing 4.2%
audience feedback

Providing guidelines for


3%
transparent and honest
communication
Regularly reviewing 2.5%
influencer content

20
Importance of Industry-Specific Expertise
in Selecting Influencers
Industry-specific expertise is a critical criterion for influencer selection. The high importance placed
on industry-specific expertise highlights the need for influencers to possess a deep understanding
of the industries they represent, ensuring more relevant and effective collaborations.

Importance of Industry-Specific Expertise in Selecting Influencers

47.3%

25.3%
18.1%

9.3%

Very Important Somewhat Not


important important important

21
Strategies to Ensure Long-Term
Partnerships Effective strategies for maintaining long-term influencer
Strategies to Ensure Long-Term Influencer Partnerships relationships are diverse and essential. Regular
communication and personalized engagement strategies
are key to sustaining long-term influencer partnerships,
aligning both brand and influencer goals for mutual success.

9.7%
10.5% 34.6% Regular communication
and check-ins
Exclusive
14.3% collaborations
Performance-based
incentives

15.2% 15.6% Content co-creation


Other strategies
Long-term contracts

22
Adoption of New Content Formats in
Influencer Campaigns
New content formats on platforms are being
widely adopted, with significant growth in
Diverse Content Formats for Broader Audience Engagement TikTok Shop and Facebook Shops, highlighting
the trend of integrating e-commerce directly
4.2% into social media. The rise in dynamic formats
like Instagram Reels, TikTok Branded Hashtag
5.5% Challenges, and YouTube Shorts shows a shift
5.9% 29.1%
towards engaging, interactive content that
appeals to shorter attention spans and boosts
audience participation.

14.3%
Instagram Reels

TikTok Branded
Hashtag Challenge

TikTok Shop
20.3% 20.7%
YouTube Shorts

Facebook Shops

Other formats

LinkedIn Live

23
Challenges in Influencer Marketing
1. Fragmented Attention and Content Saturation: In an
era where human attention spans are dwindling,
capturing and retaining audience focus is becoming
increasingly challenging. With only a tiny fraction of
sensory information able to hold our attention,
marketers must create content that stands out in a
saturated digital landscape.

2. Authenticity Concerns: Maintaining genuine


engagement and trust is critical. The rise of AI-powered
influencers brings with it concerns about authenticity and
consumer trust. Marketers must navigate these
challenges by implementing rigorous vetting processes
and fostering authentic storytelling.

3. Evolving Algorithms and Trends: The constant shifts


in social media algorithms and user trends require
marketers to stay agile and adaptable. Continuous
research and adaptation are essential but resource-
intensive activities that demand strategic foresight.

24
New Opportunities in
Influencer Marketing
Leveraging AI for Efficiency: AI is transforming influencer
marketing by streamlining tasks like influencer identification,
content creation, and performance tracking, leading to greater
efficiency.

Micro and Nano-Influencers: Engaging micro and nano-


influencers allows brands to connect with niche audiences
authentically, as these influencers often have higher
engagement rates.

Employee-Driven Influencer Programs: Utilizing employees as


influencers can boost authenticity and amplify brand messages
through trusted internal voices, benefiting both internal and
external engagement.

New Content Formats: Innovative content formats like


Instagram Reels, TikTok Branded Hashtag Challenges, and
YouTube Shorts offer dynamic and interactive ways to engage
audiences.

25
Emerging Trends in Influencer Marketing

Focus on Long-Term Partnerships: Brands


Integration of E-Commerce: Social media
are increasingly prioritizing long-term
platforms now allow consumers to make
partnerships with influencers, using strategies
purchases directly from influencer
like regular communication, exclusive
content, strengthening the connection
collaborations, and performance-based
between content creation and conversion.
incentives to build sustainable relationships.

AI and Customization: AI advancements Industry-Specific Expertise: There is a


are revolutionizing influencer marketing by growing emphasis on industry-specific
enabling the creation of customizable, expertise, with influencers expected to
multilingual avatars and AI dubbing, deeply understand the industries they
expanding campaign reach and represent, leading to more relevant and
personalization. effective collaborations.

26

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