Fashion and Beauty Monitor published a study yesterday analyzing the scope and impact of “influencers” (that means you) on the fashion and beauty industry. They found that the role of fashion bloggers in content marketing is on a serious upswing.
With consumer trust in traditional advertising in sharp decline, consumers have expressed an increasing preference for the opinions of trusted individuals and influencers when it comes to deciding what to buy. Fashion and Beauty Monitor wanted to quantify that sentiment, so they interviewed 348 brand marketers, agencies, consultants and media owners in the United Kingdom and the United States.
The results are not just good news for the top 1%. In fact, smaller bloggers often have more niche followers who are paying closing attention to what they say, and that leads to something that brands value above all: conversions. If a million people are watching but no one is buying, that expensive campaign may not be a success, even if the brand managed to sign on a top-tier influencer.
The study revealed lots more fascinating insight, and reasons why 2016 will be the best year for fashion blogging yet. Read the full study here, and read on for our top seven highlights:
Influencer marketing programs are on the rise…
57% of survey respondents already have an influencer marketing strategy in place, while 21% plan to invest in one this year.
And they're expanding.
Of the brands that have influencer marketing strategies in place, a quarter of them
are allocating between 30% and 75% of their marketing budget to the programs.
Brands want to find you, help them…
73% of respondents felt that identifying the right influencer is the greatest challenge when working with influencers, and 59% called it a difficult and time-consuming task. That means there's huge potential in your targeted outreach to brands. It's likely that marketing managers will welcome a well thought out pitch from a blogger whose values, aesthetics, voice, etc. align closely with their brand—if done right you're making their job easy!
And they want to engage.
59% of respondents say engaging with influencers is a challenge. Again, make their job easy. Reach out to brands you love and see if you can make a connection on terms that work for both of you.
Budgets are lean, but focused.
39% of respondents are held back by budget constraints. This may not seem like a plus, but if you're a new blogger, it's an opportunity to gain experience. A brand may not be able to afford The Blonde Salad, but you may be a perfect fit.
Context is more important than numbers.
72% believe relevancy is more important than reach. Just 30% think it’s more important to have an influencer with reach over one who relates specifically to the nature of the brand or campaign. This is another variation on the same theme: you don't need 4 million followers to land a lucrative campaign that makes sense for you and your readers.
Budgets are increasing.
Nearly 60% of the brands surveyed are increasing their budgets for influencer marketing in 2016. The pie is getting bigger!