22% of influencers have dropped their prices for sponsored content in recent weeks, according to a new report by the influencer-marketing agency Mavrck. An additional 13% told Mavrck that they are considering decreasing rates in the future. The agency surveyed 515 US-based influencers between April 28 and May 3, 2020 for its study.
The reported drop in rates falls in line with marketers' predictions that influencers would have to lower their prices to appease cost-sensitive advertisers in a slumping economy. In March, the influencer-marketing firm Izea said it expectedin the average price of a sponsored post, similar to declines that occurred when the US entered a recession in 2008.
In its analysis, Mavrck noted that a smaller share of respondents said they were considering decreasing their prices than had said they would when asked the same question in a survey for March. "More influencers say they are not planning to adjust their rates at all, so it's starting to normalize," Lyle Stevens, Mavrck's CEO, told Business Insider in a statement.
The influencer-marketing industry has been hit hard in recent months as brands and creators grapple with economic fallout from the coronavirus crisis. Ad spending in the category fell 22% in the first half of 2020, according to a
Poor influencers. What exactly is their direct contribution to GDP again?
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