Its research found that marketers were investing in this type of marketing to boost brand awareness ( 86%) as well as to target new audiences ( 74%) and improve brand advocacy ( 69%).

However, transparency is an issue and in terms of the influencers they want to work with credibility, reputation and quality of followers are top of their selection criteria.

Quality of followers was cited as ‘absolutely essential’ or ‘very important’ by 96% of respondents, while credibility and reputation scored 93% on the same measure.

The findings were based on a survey of 34 companies representing 15 categories and approximately $59 billion in global media and marketing spend. All respondents use influencers to market their products online.

The WFA said it will work with members such as Unilever, which has been outspoken on the need for influencers to behave ethically and use this research as the starting point for creating best practice guidance.

A variety of payment models have evolved and the two most used were a flat fee per post/video or offering free products/services for posts.

Instagram is the most popular platform for collaboration used by 100% of respondents, with Facebook in second place at 85% and YouTube used by 67%.

Stephan Loerke, CEO of WFA, said: “Influencer marketing is becoming a key channel for many marketers but it will only be effective if consumers can trust the influencers by declaring paid relationships and marketers can trust that they are reaching real people not bots. This research provides a benchmark revealing how marketing teams and their external partners are managing the new channel.”