Marketing

Why budgets rise during a crisis – eCommerce Magazin

A new survey by the influencer marketing working group in Federal Association of the Digital Economy (BVDW) e. V. shows that in the corona pandemic the budgets for the campaigns in influencer marketing increase significantly. 14 percent of the marketing managers surveyed stated that they would have a budget of more than 100,000 euros in 2020 for Influencer Marketing Campaigns have planned. Eleven percent even planned a budget of over 250,000 euros for influencer marketing in their company.

The majority of respondents have already increased the budget for influencer marketing for 2021. Only 23 percent of those surveyed estimate the same budget as in the previous year. In addition, the respondents see clear advantages in influencer marketing compared to traditional marketing. This includes the generation of content, better access to the target group and greater authenticity.

Influencer Marketing BVDW
The companies surveyed have increased their budget for influencer marketing in 2020. (Graphic: BVDW)

Influencer marketing is becoming increasingly important

The importance of influencer marketing has also grown due to the corona pandemic. 70 percent of respondents attach greater importance to this form of marketing in the corona pandemic than before. “With well-done influencer marketing, companies have not only been able to significantly increase their engagement, but also their conversion rate. Influencers bring with them what many companies are urgently looking for, especially in times of crisis: access to the target group, their trust and high-quality content. The corona pandemic means that companies are investing significantly more in influencer marketing in terms of financial and human resources. We assume that this development will continue even after the pandemic, ”says Anke Herbener from the TWT Digital Group and Vice President and Head of the Influencer Marketing working group at the BVDW.

BVDW Herbener
Anke Herbener from the TWT Digital Group is Vice President of the BVDW. (Image: BVDW)

In 2020, significantly more campaigns with influencers were planned. Compared to 2018, 19 percent more stated that they plan at least ten campaigns a year. According to 73 percent of those surveyed, its quality has improved in recent years. Of these, 44 percent even see a strong increase in quality. Influencers are also often involved before the campaign starts: Two thirds of those surveyed integrate influencers into their project before the campaign starts. In addition, the importance of micro and macro influencers and gamers when using influencer marketing is growing.

Influencer Marketing BVDW
Those responsible see the generation of content and improved communication with target groups as advantages of influencer marketing. (Graphic: BVDW)

“Influencer marketing is also becoming increasingly professional. In 64 percent of the companies there are already those responsible for this form of marketing. That is eleven percent more than in 2018, “adds Matthias Maurer from La Red and deputy head of the influencer marketing working group at the BVDW. At 81 percent, engagement rate is the most important aspect of measuring influencer marketing campaigns. Conversions are an important to very important criterion for over 61 percent.

For the online survey A total of 109 social media and influencer marketing managers in companies were surveyed between November 5, 2020 and January 31, 2021. The Federal Association of the Digital Economy (BVDW) eV represents the interests of companies that operate digital business models or whose added value is based on the use of digital technologies. As a guide and accelerator of digital business models, the BVDW represents the interests of the digital economy vis-à-vis politics and society and advocates the creation of market transparency and innovation-friendly framework conditions. (sg)

Also read: German Digital Award 2021: Best of price for #Unhatewoman by Philipp and Keuntje