Instascreener recently just released some stats that revealed that influencer marketing spend has grown by 83%. Instascreener is an influencer marketing measurement company. According to influencer marketing measurement company, influencer marketing spend has seen an 83% year-on-year growth. The research was conducted just in the US and Canada. This stats a very shocking seeing as the influencer marketing industry has been under a lot of scrutiny and has been called out numerous times.
Many brands have shared their distrust for the marketing form. Recently Unilever’s former marketing chief Keith Weed called the industry out for ineffective measurement, fake followers and influencer fraud. But it seems that all the uncertainty and distrust of the marketing medium by some brands don’t seem to be deterring the marketing mediums growth.
About the Influencer Marketing Spend Study
To conduct the research on influencer marketing spends, Instascreener used third-party software to analyse nearly every sponsored post on Instagram. For non-Instagram influencer marketing spend, they used its own spend data and research to measure investment. Here’s what the study by Instascreener’s study on influencer marketing spends study revealed:
- According to the study, the second quarter of 2019 was the largest quarter yet for influencer marketing. The study revealed that brands spent a total of $442m.
- The second quarter of 2019 spending was up by 18%, $69m, compared to the previous quarter.
- The study also showed that, in the second quarter, $314m was spent on Instagram but a total of $58m reached fake followers.
- According to the study, Fashion Nova was the top spender. They spent $5.5m on social stars. The second top spender was vodka brand Ciroc which spent $3.4m and Flat Tummy Co which spent $2.9m.
Even though the spend is rising, influencer marketing is still receiving some heat and many brands don’t trust the marketing medium. Advertising Standard’s Authority (ASA) has been very keen to clamp down on it.
They are a service that helps marketers find the most valuable influencers, avoid fake followers, and maximize authentic engagements and impressions. It was developed by Points North Group, the third-party influencer marketing measurement authority. They combine machine learning with proven research techniques and industry-leading experience. They help marketers optimize spend and maximize ROI. Their client portfolio includes brands like Pepsi, Subway and T Mobile.