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Marketers have been teaming up with influencers for content creation and promotion, and these types of marketing campaigns have generated impressive results. According to December 2015 research, the beauty and fashion industry has also allocated a percentage of their budget to influencer marketing.
The Econsultancy survey, sponsored by Fashion and Beauty Monitor, polled 348 marketing professionals primarily in the UK and US fashion and beauty industries. Almost half of respondents said that less than 10% of their overall budget was spent on influencer marketing. And, nearly one-third said that 10% to 29% of their total budget was spent on influencer marketing.
Some 18% of UK and US beauty and fashion industry marketing professionals said that 30% to 49% of their overall budget was spent on influencer marketing and only 8% said that 50% to 75% of their budget was allocated to it.
Identifying the right influencers can be a challenge. Indeed, three-quarters of marketing and communications professionals worldwide said it was in a May 2015 survey from Augure and Schlesinger Associates. Respondents also struggled to get influencers' attention and to measure efforts.
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