LONDON--(BUSINESS WIRE)--Jun 14, 2023--
LTK, the creator-guided shopping platform and global influencer marketing leader, today launches new research, commissioned from YouGov, which has found that over half (54%) of UK businesses currently investing in influencer marketing have increased their budgets this year, despite economic uncertainty and cuts to their other marketing budgets, after seeing positive business impact from their influencer marketing programmes.
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LTK, the creator-guided shopping platform generating over £3.2 billion globally in annual sales for brands, launches new research showing two-thirds of brand marketers collaborating with influencers see increased sales as a result. (Photo: Business Wire)
YouGov surveyed marketing decision-makers across a wide section of the retail industry, revealing the state of influencer marketing in the UK – through their attitudes, experiences and challenges.
Marketing budgets are under scrutiny, with marketers reporting that nearly a quarter (24%) of their budget is being cut. However, investment in influencer marketing is showing resilience, with brands experiencing value in how it improves brand awareness (69%), boosts online traffic and clicks (62%), and increases reach and engagement across social channels (46%).
“The positive results revealed in this study come as no surprise. LTK’s 12 years working with brands and supporting creators’ businesses has shown time and again how data-led creator campaigns can deliver across the funnel an array of metrics and contribute to business growth and development,” said Robin Ward, Head of Sales at LTK Europe. “Our focus is on connecting brands with creators to reach their customers in authentic ways through the power of creator guided shopping.”
Going beyond brand and channel performance, nearly two-thirds of marketers (62%) have seen influencer marketing directly drive sales growth.
Global retailer Abercrombie & Fitch has seen record campaign sales with LTK growing 56% year-on-year thanks to increased, always-on investment in influencer campaigns through LTK as a way for the brand to grow beyond brand awareness. Hanne Fiksdal, Senior Marketing Manager, Abercrombie & Fitch, says: “Partnering with LTK allows us to work closely with creators that drive additional engagement and awareness for our brand. This relationship helps us to reach our campaign objectives while also increasing the opportunities our customers have to shop with us through LTK Creators.”
Investment priorities for the next 12 months
For those brands investing in influencer marketing, their areas of focus for expanding activity over the next 12 months includes increasing video content by creators (54%), more diverse casting (46%) and further investment in micro-influencers (31%).
According to a recent LTKstudy, two-thirds of consumers prefer video content over still images on social media, and 73% of Gen Z watch creator videos. And with video seeing the strongest sales lift year over year - driving 3X the sales growth over still images on the LTK platform - brand investment in short-form video campaigns with LTK Creators are up by five times year-on-year.
Marketers are also committing to a shift towards always-on partnerships (38%) with influencers, moving away from one-off campaigns. LTK has seen its brand partners such as Elemis, move to an always-on, full-funnel strategy, which boosted revenue by nearly a third, in just a few months.
The importance of performance data and evidencing results
The research also reveals some of the barriers that marketers not currently investing in influencers say are holding them back.
Nearly half of those not currently investing say they need more awareness of its value, and a fifth of senior marketing decision-makers are unsure of how to measure influencer marketing activity, highlighting the importance of accessing performance data and sharing measurability to optimise creator campaigns and demonstrate influencer marketing success.
High street clothing brand Karen Millen has made use of LTK’s real-time tracking and sales reporting, as part of one of their recent campaigns, helping to increase sales by +114% MoM. April Roberts, Senior Performance Marketing Manager at Boohoo Group, says: “Partnering with LTK highlights the significance of creator commerce as we work together, alongside their high performing creators, to increase brand awareness and sales. Measurement is a cornerstone of all our campaign success, allowing us to see multiple sides of value when it comes to influencer marketing and reporting on its wider impact on our business aims.”
Impact of influencer marketing on other marketing channels and business development
Influencer marketing success is having broader contributions on the performance of other marketing channels. LTK’s research found that the top uses for influencers beyond social media are through inviting them to amplify events (46%), video advertising (38%), and in-store marketing and activations (31%).
Beyond sales and marketing channel performance, investment in influencer marketing is also driving brand growth and business development, with marketers saying it is informing product decisions (38%) and improving brand sentiment (31%).
Notes to editors
Research methodology
All figures, unless otherwise stated, are from YouGov Plc. The total sample size is 102 senior decision-makers in marketing, working in the retail sector. Fieldwork was undertaken between 12 th - 30 th April 2023. The survey was carried out online. Respondents were initially asked questions on their industry, role and seniority to ensure the required audience of key decision makers was targeted.
About LTK
The LTK creator-guided shopping platform pioneered the creator commerce industry. LTK is the trusted platform for creators and their businesses by powering the connection between content and commerce. Founded in 2011 by content creator Amber and her now husband, Baxter Box, the LTK mission is to empower creators to be as economically successful as possible. Premium lifestyle creators in 150+ countries drive more than £3.2 billion in annual retail sales through their LTK Shop profiles. Today, more than 20 million global consumers turn to LTK Shops in the LTK shopping platform each month to find inspiration and instantly shop the styles recommended by their favourite creators. And, more than 6,000 brands partner with LTK to gain access to its global creator network for content that converts against performance-driven, cross-channel KPIs. A three-time honoree on Fast Company’s list of Most Innovative Retail Companies, LTK is headquartered in Dallas, TX and currently operates on five continents. To download the LTK shopping app, search for LTK in the App Store or Google Play.
For the latest shopping trends and updates from LTK, follow @LTK.Europe on Instagram.
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KEYWORD: UNITED KINGDOM EUROPE
INDUSTRY KEYWORD: FASHION RETAIL
SOURCE: LTK
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PUB: 06/14/2023 04:00 AM/DISC: 06/14/2023 03:59 AM
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