Influencer Marketing Paper Published in BE Guide
Our report, “The Influence of Influencers: Inspiring More Cost-Efficient Marketing“, by Henry Stott, Abbie Letherby and Alice Pearce, has now been published in The Behavioral Economics Guide 2022 from BehavioralEconomics.com
Globally, brands are spending almost $100bn on Social Media advertising every year to boost both brand awareness and sales. Given this increasingly popular mode of advertising, we conducted an experiment with a sample size of over 1,500 UK consumers to investigate the impact of Influencer Advertising on brand’s return on investment. Our aim was to explore which sectors have the most to gain from Influencer Advertising, how brands should select their Influencers, and what should they ask them to post.
We used our immersive randomised controlled trial approach, BehaviourLab to explore these questions – which included putting participants through a realistic simulation of seeing a sponsored advert from an Influencer on Instagram. Each participant was shown two adverts for two different products selected at random from five industries (Fashion, Beauty, Health & Fitness, Travel and Food & Drink). Participants likelihood to purchase, post rating, and their opinion of the Influencer were measured across a range of different perception statements. Our results emphasise the importance of Influencer Marketing as a potentially more cost-efficient form of Marketing, the use of smaller Midfluencers and the importance of authenticity in generating the most impactful content to gain the most #InfluenceFromYourInfluencer.
You can read the BE Guide via the link below: