Influencer marketing spend in the US and Canada has grown 83% year-on-year as investment in the channel continues to increase, according to research from influencer marketing measurement company, Instascreener.
The company, formerly known as Points North Group, measured the investment using its own spend data for non-Instagram influencer spend in addition to analysing nearly all sponsored influencer posts on Instagram.
Findings show that Q2 2019 was the largest investing quarter for influence marketing in North America with brands spending a total of $442 million, up 18% from the previous quarter, which saw spend reach $69 million.
In terms of brands, Fashion Nova was the top spending brand, investing $5.5 million into the channel. This was followed by vodka brand Ciroc which spent $3.4m and Flat Tummy Co which spent $2.9m.
When it came to spending on Instagram, $314 million was invested in Q2 2019 with a total of $58 million however reaching fake followers, which continues to be a prominent issue in the industry.
Recent social media research which reviewed ITV’s latest series of Love Island found that all the contestants bar one amassed a large group of fake followers on Instagram with 50% of their purported followers being fake.
Despite the controversy surrounding fake followers, the channel itself continues to appeal to brands globally with marketers working for consumer-facing fashion, cosmetics and travel brands now setting aside in excess of £800,000 per year for influencer campaigns.
Whalar’s “world’s first” neuroscience study on influencer marketing also found influencer ads to be 277% more “emotionally intense” than tradition TV ads, indicating positive changes in favour of the medium.