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The Business of Fashion Podcast

The New Rules for Influencer Marketing

The Business of Fashion Podcast

The Business of Fashion

Arts, Fashion & Beauty, Business

4.5813 Ratings

🗓️ 4 February 2026

⏱️ 25 minutes

🧾️ Download transcript

Summary

Influencer marketing in 2026 is a different beast. Once dominated by follower counts and splashy sponsored posts, the sector is now shaped by richer performance data, new monetisation models and growing consumer scepticism toward overt selling. 


As BoF publishes a new case study on the creator economy, Pearl joins hosts Sheena Butler-Young and Brian Baskin to unpack how creators and brands are adapting to a more disciplined, competitive and AI-saturated landscape.



Key Insights:


  • One of the most profound shifts in influencer marketing is how success is measured. Where follower size once acted as a blunt proxy for reach, brands now have access to granular data that shows who actually drives traffic and sales. Pointing to platforms like ShopMy and LTK that allow brands to see “exactly what creators were driving sales for them,” Pearl says that visibility has reshaped spending decisions. She explains: “Having more data has totally changed the game. It really is incredibly varied today and there is no one baseline KPI. It’s really just about what are your goals and who’s the best to help you achieve that.”


  • As consumers grow wary of constant selling, trust has emerged as the defining asset creators bring to brands. “Trust is the most important thing,” Pearl says. “If you don’t have your audience’s trust, nothing else matters.” What brands are really buying is not visibility, but a relationship. “What a creator really brings to the table is not necessarily the size of their following; it’s that relationship they have with their audience,” Pearl explains.


  • As the sector professionalises, creators are actively reducing their dependence on single revenue streams. Affiliate marketing, subscriptions and owned platforms are increasingly central to sustainable creator businesses. “Affiliate marketing really provides that base foundational income that you can rely upon,” Pearl says. Substack, meanwhile, offers something brands cannot. She explains: “It brings back some of that intimacy and community that they felt was missing in this TikTok/Instagram world.” This diversification also changes the power balance. “They don’t want to rely too much on one particular partnership,” Pearl says. The upshot is a creator economy that is less fragile – and less easily dictated by brand budgets.


  • Pearl argues the relationship between brands and creators is moving from transactional campaigns to longer-term collaboration. As creators become central to marketing in fashion and beauty, brands are changing how they work with them – and what they ask them to do. Brands can no longer dictate terms “like they used to,” Pearl says, because creators are now “recognised as being a really important part of the marketing puzzle.” That recognition is also changing what brands value: “You’re not just hiring this person for their following… you hire them because they’re a creator. They create great content. They know how to engage an audience.”



Additional Resources:


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Transcript

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0:00.0

Hello and welcome to the debrief from the Business of Fashion, where each week we delve into our most popular B.O.F. Professional Stories with the correspondence who created them. I'm Senior Correspondent, Sheena Butler Young.

0:19.5

And I'm executive editor, Brian Baskin.

0:22.3

The rules of influencer marketing have changed.

0:24.9

Consumers can smell a hard sell.

0:27.1

Creators want autonomy.

0:28.6

And new platforms like Substack and even Onlyfans have entered the mix.

0:32.8

Content creators increasingly compete with not just each other for followers' attention, but also AI.

0:38.5

This week, BOF is publishing The Creator Economy Comes of Age, a special series of articles

0:44.5

looking at all the ways the rules of social media are changing. We have with us, BOF's senior

0:50.0

news and features editor Diana Pearl, who edited the package and has written a case study,

0:55.2

the new world of influencer marketing. Diana, welcome back to the debrief.

0:59.6

Thanks for having me. Always pleasure.

1:02.1

Diana, we've had you on a few times to talk about influencers. I think this is your favorite topic,

1:06.3

safe to say? Yeah, definitely up there, definitely up there. And you've been following this world for a while.

1:11.6

Why did you feel this was the time to do the big, everything is changing, no one knows what's

1:17.3

happening next kind of package?

1:19.3

You know, I think the last time we had done a case study on influencer marketing was four

1:23.7

years ago, and thinking about how much the sector has changed in that four years is

1:28.0

crazy. I mean, like, substack was just barely on people's radar. TikTok obviously was a thing,

1:34.7

but it hadn't quite cemented itself as, you know, I would say probably the most important

1:39.4

platform in content creation just yet. You know, there wasn't this subscription boom and where we're

1:45.9

seeing creators put their content behind a paywall. There's also just so many more creators now.

...

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