Socialbakers Reports on the State of Influencer Marketing Effects of COVID-19

Influencer marketing efficiency decreased by 41% compared to last year, however, healthcare influencers were 4.2x more efficient, according to a new Socialbakers report.

Socialbakers, the leading social media marketing platform, today released its State of Influencer Marketing Report, which examines how the COVID-19 pandemic has affected the influencer industry over the last three months. Among the key findings are a decrease in sponsored content among influencers that are partnering with brands and a pivot toward influencers with smaller, more niche followings that may offer greater value to brands with tighter marketing budgets.

Read More: Everbridge Appoints Finastra CEO Simon Paris To Its Board Of Directors

“Despite the economic impact of COVID-19, brands are still investing in influencer marketing to reach their target audiences but with a distinctly different approach,” said Yuval Ben-Itzhak, CEO, Socialbakers. “Nano and micro-influencers are now seen as high-value resources, bringing high impact without the big price tag of macro and mega influencers. As budgets remain tight, savvy brands will likely continue to expand partnerships with these smaller influencers as part of a smarter social media strategy in the wake of the continuing worldwide pandemic.”

Read More: Gartner Identifies The Top Five Customer Service Technology Trends For 2020

Influencer marketing slows as budgets tighten

Socialbakers data shows that both the amount of sponsored content posted by Instagram influencers, and the number of brands who partner with influencers, dropped significantly compared to last year. The decrease of ad usage in 2020 was likely tied to the worldwide pandemic. At the same time, the number of brands on Instagram cooperating with influencers in April 2020 dropped by 37% compared to April 2019.

Influencer efficiency also drops, as extra-small brands gain traction

There was also a sharp drop in Influencer Marketing Efficiency, which is the ratio of average interactions on an influencer’s post mentioning the brand compared to a post published by the brand itself. In April 2020, Influencer Marketing Efficiency decreased by 41% compared to April 2019, reaching its lowest point since at least January 2019. Following the rise and fall of this metric during the holiday season, efficiency decreased again in the spring likely because of the pandemic.

Read more: How Contract Acceptance Is Evolving with New Customer Experience Expectations

Write in to to learn more about our exclusive editorial packages and programs.

COVID-19Influencer MarketingNewsSocial Media MarketingSocialbakers
Comments (0)
Add Comment