With influencer marketing predicted to become a US$10bn business by 2020, it’s commanding respect as a legitimate method of marketing.
According to the Digital Marketing Institute, 70% of teenagers trust influencers more than conventional celebrities, meanwhile, 74% of consumers trust social networks to guide purchasing decisions.
In its 4th annual The State of Influencer Marketing report, Launchmetrics has revealed the top six motivators influencers look for when partnering with a brand, according to fashion, luxury and cosmetic industry experts.
6. Networking with other peers
According to the report 8.3% of influencers are believed to want networking opportunities with peers when collaborating with a brand.
5. New experiences
The biggest growth seen in the last 12 months came in influencers interest to participate in new experiences, which saw a 9% increase to 10.3% of the share.
4. Valuable content and information
Career progression was also found to be a driving force for influencers partnering with a brand, at 15.7%.
Read more on Cosmetics Business' coverage of influencer marketing:
- Negative reviews and undisclosed ads: The ugly side of beauty influencer marketing
- Huda and Mona Kattan on influencer marketing, expanding into perfume and finding the perfect investor
- Beauty cyberbullying: Is it a brand's responsibility to keep consumers safe?
3. Free merchandise
A commonly known incentive for brand partnerships comes in the form of free merchandise according to the report, and is up 6% to 18.8%.
2. Exposure
Visibility is key in the influencer realm, and 20% of industry experts believe this motivates them when seeking brand partnerships.
1. Monetary rewards
Meanwhile, 27% of fashion, luxury and cosmetics industry experts believe monetary reward is the primary motivator when an influencer is looking to partner with a brand.