Social media influencers are said to be more effective the celebrities when it comes to beauty brand marketing
Beauty brands that spent £1 on influencer collaborations secure an average return of £8.81, a new report by marketing firm Celebrity Intelligence has found.
According to the Influencing Beauty report, this ROI is said to have ensured a 98% success rate on these types of campaigns for 2017.
We have entered a more considered age of influencer marketing where beauty brands are looking for stronger metrics across each social media platform, to help them differentiate between the influencers and celebrities who are achieving the highest levels of engagement, and ultimately delivering the best ROI, said Megan Falconer-Taylor, Director of Product at Celebrity Intelligence.
Instagram has proven to be the channel of choice for marketers, trumping YouTube, a channel that has historically been influential within the beauty industry.
Beauty brands are also favouring social media engagement figures over traditional metrics, such as column inches and website traffic, with 82% preferring the data format.
Meanwhile, the study Celebrity Intelligence also found that social media stars are now the number one choice for marketers when it comes to campaign collaborations, with 84% favouring the digital native talent.
Generation Z and millennials are reportedly the most likely to swayed by influencers when it comes to buying decisions and budgets are expected to increase by 70% for influencer collaborations in the next 12 months.
Falconer-Taylor adds: I think the report findings prove that when collaborations are well thought through, there is the potential for influencer marketing to deliver ROI that easily surpasses traditional forms of advertising.