Almost two-in-three (64%) brand marketing leaders expect their influencer (creator) marketing budget to increase in 2023, according to marketing research company Open Influence.
The survey – which selected a random sample of 150 brand marketing leaders – found that influencer marketing is beginning to own a bigger share of marketing budgets.
Despite the findings, 28.6% of marketers have admitted that selling the idea of influencer (creator) marketing to upper management remains a big challenge.
The research also found that four-in-five brand managers outsource their influencer marketing partially or fully to an agency. According to Open Influence, brands that are looking to execute strategic programs, rely on agency partners capable of supporting large-scale campaigns with great success.
Some 77% of CMOs also prefer to maintain long-term relationships with creators as to ensure that they are cost and time efficient, and allow for stronger connections with audiences as a result of post frequency.
A large majority of brand marketing leaders are also running paid social behind influencer (creator) marketing campaigns.
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“Paid social has become a pivotal part of any creator strategy, offering more control where the organic algorithms do not. Combining creator assets with a strategic paid media layer is how brands can make their dollars work the hardest,” Open Influence vice president of account management, Maggie Reznikoff, said.
According to the research, in terms of platforms Instagram continues to be on top for influencer (creator) marketing. Short-form video is also the most popular type of social content used by brands in influencer campaigns.
“We’re seeing the adoption of short-form vertical video across all key platforms. TikTok walked so IG Reels could run,” Reznikoff added.
“Other examples of adoption include Youtube Shorts, Pinterest Idea Pins, Snapchat Spotlight, and even Google Ads are now auto-generating vertical video ads using machine learning on existing assets.
