Marketers using influencer channels are increasingly seeking to work with specialist influencers with niche follower groups and smaller audiences.
The 2024 Influencer Marketing Benchmark Report, published in July, assessed data from more than 3,000 marketing professionals across all sectors.
It found that 44% of marketers were looking to work with so-called ‘nano influencers’ – individuals with a specialist following of up to 10,000 people, while just over a quarter of those surveyed (26%) said they were opting for micro influencers with fewer than 100,000 followers.
The news comes as celebrity influencers are under the microscope from regulators.
Over the summer, TOWIE’s Lauren Goodger, Love Island’s Rebecca Gormley and Geordie Shore’s Scott Timlin appeared in court charged with promoting unauthorised investment schemes.
Each pleaded not guilty to one count of issuing unauthorised communications of financial promotions and will now face a trial in 2027.
Despite this, companies continue to successfully embrace influencer marketing, using non-celebrities, while staying the right side of the regulations.
PensionBee launched its Pension Academy video series hosted by YouTuber Patricia Bright, personal finance personality Kia Commodore hosted a podcast series for Legal & General and Revolut hired The Sidemen to launch its limited edition cards.
“The market size [will] reach an estimated $24 billion by the end of 2024, indicating strong ongoing growth momentum in influencer marketing despite challenging economic conditions,” a spokesperson for Influencer Marketing Hub, said.