Upscale fashion marketers will pay almost £100k for a sponsored Instagram post
In fact, high-end labels such as Versace and Burberry could pay up to £93,000, although the average that UK marketers will pay for a post by a celebrity influencer is around £60,000, Rakuten claims.
Micro-influencers (those who have up to 10,000 followers) can command up to £3,000 per Facebook post.
The figures for the fashion industry outstrip those in other product sectors, said the researchers, who spoke to 200 marketers.
But do fashion marketers think they’re getting value for money? That’s questionable. Marketing budgets dedicated to influencers are rising and will eat up around 40% of premium fashion brands’ spend. That’s an increase for 87% of marketers.
Only 56% of premium fashion marketers see the influencers they work with as ‘getting’ key measurement metrics like brand awareness, site traffic and brand reach. And that moves to only 25% of marketers for more mainstream fashion.
But importantly, marketers would be prepared to spend more on influencers if they could really see tangible ROI. Half of premium fashion marketers want to see a clear contribution to sales from their efforts, while 44% want to see their influencer activities impacting the wider consumer purchasing journey.
Rakuten Marketing MD James Collins said: “Influencers are famous at Fashion Week, attracting lots of attention from the media and across social. The collections they’re wearing are the items consumers want to buy now. However, fashion marketers have become dependent on these influencers without measuring their impact fully and many don’t have a proper understanding of what they help them to achieve from a sales perspective.”
He added that this means marketers could be paying “well over the odds or equally be undervaluing their influencer relationships.”
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