Aug 07, 2018 | By Sandra Halliday
Big data meets consumer insights. Experience WGSN.
Sep 15, 2017
By WGSN Insider
Premium fashion marketers working at designer labels are prepared to pay far more for influencer posts compared to those in other sectors, according to Rakuten Marketing.
The average amount UK marketers will pay for an Instagram post by a celebrity influencer is around £60,000, however more high-end labels such as Versace and Burberry could pay up to £93,000.
Payments to micro-influencers, who have up to 10,000 followers, can go up to nearly £3,000 in the fashion industry.
James Collins, Rakuten Marketing’s managing director, global attribution, 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.
“Without [this] understanding, fashion marketers could be paying well over the odds or equally be undervaluing their influencer relationships… Events like fashion week are a perfect opportunity to chart influence and show how important influencer marketing is.”
In the coming year, influencer marketing will occupy an average of 40% of premium fashion brands’ marketing budgets. For 87% of the 200 marketers Rakuten spoke to, this represents an annual increase in spending on the channel.
Furthermore, less than a quarter of mainstream fashion marketers believe that the influencers they work with are entirely concerned by measurement metrics like brand awareness, site traffic and brand reach, which rises to 56% among premium fashion marketers.
Marketers report that they would be prepared to spend more on influencer marketing on the condition that return on investment becomes a little more tangible.
It is said that 50% of premium fashion marketers want to see a transparent and reportable contribution to sales, while 44% want to see the impact of influencer activity across the wider consumer purchasing journey.
Know what’s next. Become a WGSN member today to benefit from our daily trend intelligence, retail analytics, consumer insights and bespoke consultancy services.