In March, when the potential scale of the COVID-19 pandemic became clearer, the influencer marketing industry braced for businesses to rein in spending. But instead, companies have begun investing more into advertisements centering creators.
That’s according to a new report from influencer marketing agency Takumi, which surveyed 3,500 consumers, brands, and creators in August. Per The Drum, Takumi’s findings indicated that 73% of businesses are putting more financial resources into influencer marketing now than they were before the pandemic.
The report also found that brands are moving beyond keeping influencer marketing digital: 83.3% of companies surveyed have worked with creators on out-of-home advertising like billboards, 81.3% have worked with creators on TV and radio adverts, and 80% have published print ads starring influencers.
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It’s possible the increased investment is being driven, at least in part, by a growing belief that influencer marketing brings a better bang for brands’ buck. Takumi reported that 60% of marketers surveyed said creator-focused ads have a higher return on investment than traditional ads.
As for what sort of creators marketers are interested in, 58% of them said they want to work with creators on YouTube, 55% want to work with Instagrammers, 35% with TikTok creators, 20% with Twitch streamers, and 10% with creators on the nascent but rapidly growing TikTok competitor Triller.
Mary Keane-Dawson, the group chief executive officer at Takumi, said the report shows influencer marketing “is a core pillar of any effective brand marketing strategy.”