The use of influencers in marketing is widespread, with close to three-quarters of marketers saying they will dedicate a portion of their budget to influencer marketing this year. And, a large majority (86%) of enterprise marketers are taking influencer marketing a step further and enabling shoppability as part of the content, per a report [download page] from Linqia.
Looking at how the enterprise marketers and agency professionals surveyed have enabled shoppability in influencer content on Instagram, the largest share (50%) say they are linking to their website, while 21% are linking to a retailer. Fewer are using third-party carting (10%) or Instagram checkout (5%).
Although shoppability is being used, only a little more than half (53%) of respondents are using product sales as a way to measure the success of their influencer marketing programs. Instead, the majority are using metrics such as engagement (77%) and clicks (65%).
That said, conversions and product sales were cited as the top measure of success by 24% and 21% of respondents, respectively, while 18% of marketers chose engagement as their top measure of success for their influencer marketing program.
It turns out that measurement is one of the challenges respondents think they will be facing this year — more specifically ROI. About two-thirds (65%) say that determining the ROI of their influencer marketing programs is one of their top concerns. This is understandable since measuring the ROI of influencer marketing has long been a challenge.
About half (51%) of respondents are also concerned about the amount of time it takes to manage influencer marketing programs, while two-fifths (42%) cite selecting the right influencers as one of their top concerns this year. And, while many marketers have said they changed their approach to brand safety due to the recent crisis, only about one-quarter (25%) of respondents say that brand safety is a concern in using influencer marketing this year.
The full report can be downloaded here.
About the Data: Results are based on a Q1 2021 survey of 163 enterprise marketers and agency professionals from a variety of industries including CPG, Food & Beverage, Media, Retail and their agencies.