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Brands in all categories are driving a dramatic increase in social media influencer fees
Influencer marketing has reached a trending status among marketers. Utilizing popular social media personalities to create and distribute content around products and services may be the tip of the iceberg.
As our primary business is helping create trending marketing and advertising campaigns, NOTICE fielded a first of it’s kind study to understand the impact of a new form of marketing.
The 2017 NOTICE Influencer Marketing Study reveals a shocking increase in fees charged to brands, as well as a preference for Instagram over all other platforms.
The study was fielded amongst 300 influencers randomly selected from the complete NOTICE agency roster. These influencers were asked for updated public pricing, or the one off per-post fees they quote to brands. We then compared those rates to the same question from the year prior and measured the change.
Over all post types and categories, influencer fees increased by 250% year over year. This dramatic increase is due to a continued lack of supply and an abundance of brands entering the influencer marketing space.
Instagram is the top platform of choice for influencers, while Snapchat and others lag behind
Next, we asked influencers to rank popular social media platforms in order of importance. 58% of respondents noted Instagram was most important, followed by YouTube, Snapchat, Owned Websites, and Pinterest. Of note is the wide margin of preference for Instagram, combined with the lack of perceived importance in Facebook.
We see the trend continuing throughout 2017
As entire marketing programs begin to be built around social media influencers, the fees associated with known social media stars will continue to rise. Further platform consolidation and new feature releases may contribute to the glut of content creators.
Marketers are advised to leverage group buying via an agency model, or identify long term influencer partners in an early growth stage and work with them as they advance.