Need For Influencer Transparency Grows As Marketing Budgets Soar

Need For Influencer Transparency Grows As Marketing Budgets Soar
SHARE
THIS



With influencer marketing becoming an essential driver in reaching and connecting with consumers, marketers are expressing the need for better transparency and measurement with those they work with, according to new research by Rakuten Marketing.

Influencer marketing budgets have been increasing over the last few years, and there are no signs of stopping its upwards trajectory.

Rakuten Marketing Asia-Pacific MD, JJ Eastwood (featured image) said: “As the influence of bloggers, vloggers and instagrammers continues to grow and proves to be instrumental in the promotion of products, driving sales and building a brand’s awareness, it’s imperative marketers close the measurement gap.

“Marketers need to be confident in their understanding of the impact their influencer marketing campaigns play throughout the consumer journey and that they’re able to accurately compensate influencers for their contribution in driving sales.”

In an Australia-wide survey of more than 100 marketers in a variety of industries, including retail, fashion, beauty, travel, electronics and hospitality, Rakuten Marketing found an average of 38 per cent of total marketing budgets will be allocated to influencer programs this year, with luxury fashion dedicating more than half (52 per cent) of their budget to influencer marketing.

Of those surveyed, 58 per cent have upped their already slated annual budget for influencers.

On average, Australian marketers anticipate influencer campaigns to increase by over $320,000 this year for high-tier and celebrity influencers, and as much as $232,000 for micro influencers.

Of the 500 Aussie consumers surveyed, Rakuten Marketing found 51 per cent shop online weekly, with nearly one third revealing they engage with influencers multiple times a day.

Additionally, 85 per cent admitting they have been inspired to purchase something on the recommendation or share of an influencer.

As the strength of influencer impact grows, so does the need for transparency and a better understanding of measurement and payment amongst brands, consumers and influencers alike.

While 70 per cent of marketers indicated they could identify the sales driven by a particular influencer marketing campaign, nearly half expressed the desire for greater measurement of impact.

45 per cent said greater attribution and insight into the impact of influencer activity across the wider consumer purchasing journey would encourage them to invest more in influencer programs.

Rakuten Marketing found 34 per cent of Australian marketers would like to see more transparency around an influencer’s engagement strategy, with 27 per cent saying they wanted the contribution of sales from influencers to be more transparent and reportable.

A further 27 per cent said they would be more inclined to increase their budget for influencers if payment terms were in relation to sales they drive instead of pay-per-post.

The research found a lack of understanding amongst marketers of how influencer fees are calculated: only 29 per cent said they completely understood, while 57 per cent said they somewhat understood and 13 per cent expressed little to no understanding.

 

Please login with linkedin to comment

influencers jj eastwood rakuten marketing

Latest News

Verizon Media Academy Ends For 2021 With Youth Charity Pitch-Off
  • Advertising
  • Media

Verizon Media Academy Ends For 2021 With Youth Charity Pitch-Off

Verizon Media’s talent program has come to an end for the third year, closing with a hybrid pitch-off event for Musicians Making A Difference (MMAD). The Verizon Media Academy class of 2021, made up of 44 emerging leaders from across Australia and New Zealand media, advertising and marketing industry, were given just one hour to […]

Industry’s Gamers Unite For UnLtd’s Virtual Rocket League Comp
  • Advertising
  • Marketing
  • Media

Industry’s Gamers Unite For UnLtd’s Virtual Rocket League Comp

Social purpose organisation UnLtd’s Big Games competition has raised a combined $85,000 for children and young people at risk. Running over five weeks, the competition involved 32 teams from across the advertising, marketing and media industries battling it out virtually for a chance to qualify for the Rocket League final. The tournament culminated in a […]

Sam Worthington And Phoebe Tonkin To Star In New Stan Original Film ‘Transfusion’
  • Media

Sam Worthington And Phoebe Tonkin To Star In New Stan Original Film ‘Transfusion’

Stan has announced that the Stan Original Film Transfusion commenced filming in Sydney earlier this week and will premiere on Stan in 2022. Transfusion is a taut, muscular thriller starring Sam Worthington (Avatar) as Ryan Logan, a former Special Forces operative, who is battling to cope with life after the loss of his wife and is thrust […]

COVID-19 Saw Stock Imagery Return To Harmful Gender Stereotypes
  • Advertising
  • Marketing

COVID-19 Saw Stock Imagery Return To Harmful Gender Stereotypes

According to a decade of data collected by iStock, Australian brands turned to imagery depicting outdated gender stereotypes during the pandemic. Tracking the keyword ‘women’, iStock by Getty Images found that in 2020, ANZ brands and businesses reverted to gender stereotypes. Images of mothers home-schooling were used at almost twice the rate of images of […]

by B&T Magazine

B&T Magazine
Maddison Connaughton Ends Time As Editor Of The Saturday Paper
  • Media

Maddison Connaughton Ends Time As Editor Of The Saturday Paper

Schwartz Media is congratulating Maddison Connaughton on her three years as editor of The Saturday Paper. Connaughton has decided to finish up her editorship this month. “It’s been an honour to edit the paper,” Connaughton said. “The Saturday Paper is one of the brightest voices in Australian media and I have been happy to see […]

Teenage boy wearing headphones works at desk in his bedroom
  • Media

New Research Names Olivia Rodrigo And BTS The Most Popular Study Music

Research from EdBbirdie using Spotify data has identified the most popular songs to study to. After analysing thousands of studying and homework playlists on Spotify, American singer Olivia Rodrigo’s ‘drivers license’ came out as top song to study to. It featured on 48 study playlists, while other top songs included ‘Ophelia’ by The Lumineers, ‘Falling’ […]

Happy woman drinking tea and waving to someone while having video call over desktop PC in the evening at home.
  • Marketing
  • Opinion

Building A Successful Remote Marketing Team

Dayna Stewart is the Business Director – Digital Marketing, Media & Creative Services at The Nudge Group. Here, she discusses the challenges that come with building a successful marketing team when working remotely. Before COVID-19 changed the way businesses work, most marketing teams spent their days together in a meeting room collaborating on the next […]

Opinion

by B&T Magazine

B&T Magazine
Australia’s The Kid LAROI Joins Billie Eilish, Dua Lipa, Olivia Rodrigo And More In iHeartRadio Festival Line-Up
  • Media

Australia’s The Kid LAROI Joins Billie Eilish, Dua Lipa, Olivia Rodrigo And More In iHeartRadio Festival Line-Up

The line-up for the 2021 iHeartRadio Music Festival has been announced as the legendary event returns live in Las Vegas in September. This year, the epic two-day lineup for the iHeartRadio Music Festival main stage will feature performances by Billie Eilish, Cheap Trick, Coldplay, Dua Lipa, Florida Georgia Line, Journey, Khalid, Lil Baby, Maroon 5, Nelly, […]

Shop! ANZ Calls On Industry To Participate In ANZ Shopper And Retail Marketing Industry Survey
  • Marketing

Shop! ANZ Calls On Industry To Participate In ANZ Shopper And Retail Marketing Industry Survey

Shop! ANZ is calling on shopper and retail marketing professionals from all retail related disciplines to participate in the first ANZ Shopper and Retail Marketing Industry Survey in four years. This important research provides a guide of where the retail marketing industry in Australia and New Zealand has come from and what is anticipated to […]