Three quarters of brands have increased their spend on influencer marketing in 2020 and many are exploring more “platform agnostic” campaigns to achieve success, a new study by Takumi has found.
While the pandemic has recently led to a reshuffle of budgeting and objectives for marketers, 73% say that they have allocated more resources to influencer marketing amid rising confidence that it can deliver sustainable return on investment (ROI).
A majority of marketers also believe that it has the potential to drive better returns than traditional ads on mainstream channels, such as TV and radio.
The trend is evident across the majority of industries, though retail, manufacturing and legal segments have noted a significant rise in investment in recent months.
The economic challenges posed by COVID-19 have not been a dampener on enthusiasm either as marketers are now ready and willing to explore alternative channels to convey messages.
YouTube and Instagram are the two most popular potential mediums for influencers, but TikTok and Twitch are also gaining ground.
Consumers remain ambivalent though as only 38% say that they are “happy” to see influencers take centre stage within traditional ad campaigns.
A separate study found that consumers in the UK and US are not particularly receptive to the endorsement of products and services by macro and micro influencers, with only 4% claiming that they trust what they say.
Younger adults appear to be less cynical as 25% state that Instagram is the place where the presence of influencers would be most likely to drive a sale.
Takumi chief executive Mary Keane-Dawson said that influencers are now a “core pillar” of brand marketing and that an omni-channel strategy is the best way to achieve success.
She added: “They are now exploring new social media channels – such as TikTok – and are integrating creator content into their wider marketing mix including TV and OOH in line with consumer appetites.”