What's the State of Influencer Marketing in 2024?

Keeping up with the rapid changes in the influencer marketing (IM) industry is hard. But with our exclusive report, you can get a complete picture of European influencer campaigns. Glean insights into the IM strategies of 380+ senior marketers from the UK, Spain, Italy, France, and Germany. They span various sectors, from mass-market goods to the luxury market.

The report separates data by country, guaranteeing you can quickly learn how UK brands are managing the complexities of IM.

It's packed with useful insights into the 2024/2025 market, including:

• Types of collaborations: Learn the types of influencers brands choose and whether they stick with creators long term. You'll also discover which influencer qualities are most sought after. Is it follower count, content style, or authenticity?
• Types of campaigns: Uncover the most popular campaign types and which platforms deliver the best results. Also, learn about marketers' IM goals and challenges.
• Budgets: Get insider info on how brands spent their IM budgets, plus how much they invest in campaigns.
• IM ethics. Explore stances on influencer compliance, contracts, and the ethical standards necessary for partnerships.
• Future plans: Learn brands' emerging strategies, including whether they're increasing their budget or the number of influencers they collab with. And we glimpse the future as brands make their IM predictions for 2025.
• IM ethics. Explore stances on influencer com Brands also take out their marketing crystal ball to make key predictions for the IM field in 2025.

The Kolsquare Benchmark Report is a must-have if you're looking to stay ahead in the IM game.

Must-Know Metrics

The report is bursting with data about how brands work with influencers–also known as key opinion leaders (KOLs). So, let's reveal some of the data!

We've included data from across all the European brands surveyed as well as UK-specific results. Here's a quick snapshot of our discoveries about brands' campaign preferences:

• 81% of UK brands work with micro-influencers. They're the preferred type of influencer.
• 89% of European brands use Instagram, and 64% use TikTok. These are the most popular social media platforms.
• Across Europe, 33% of brands worked with 11-49 KOLs in the last 12 months. 31% collaborated with just 1-10, and 17% worked with 50-99 KOLs.
• 46% of UK brands expect to collab with 10-19% more influencers over the next year.
• 56% of European brands use sponsored posts, while only 16% leverage influencer takeovers.

The following are insights from our report about IM spending:

• On average, UK companies spent £849K on IM in the last year, far below the European average.
• 51% of European brands plan to increase their IM budgets next year.

Here are a few of the survey's findings concerning IM ethics:

• On average, 27% of European brands believe it's important that IM campaigns inspire positive change. In the UK, it's just 6%.
• Selecting influencers from diverse backgrounds is important for 18% of UK brands. That's the highest of any country we surveyed.
• Only 6% of UK companies think it's important for campaigns to raise climate change awareness. The European average is 11%.
• 76% of UK brands ensure that influencers follow IM regulations.
• A significant majority, 63% of brands, formulate contracts orally.
• On average, 66% of European brands think that influencers should commit to complying with corporate ethics/ethical charters. Only 49% of UK brands agree.

The Benchmark Report uncovered that these are brands' pain points and perceptions about IM:

• Accurately measuring campaign ROI/ROA is a pain point for 50% of European brands.
• Influencer’s content style is a key consideration for 50% of brands when picking KOLs. 47% value authenticity.‍
• 55% of UK brands think companies will become more selective when choosing influencers in the next 12 months.