aspire 2022 state of influencer marketing

Barstool Sports is a sports and pop culture blog covering each day's latest news and viral highlights with blogs, videos, and podcasts. Nearly 2/3 (63%) admit to having a standalone budget for content marketing. Judging by the increased uptake in influencer marketing over the last few years, much of this increase in content must be created and delivered by influencers on behalf of brands. Possibly more brands engaging in influencer marketing have made increased sales the goal of their campaign, and fewer targeting brand awareness. Average engagement overall now stands at 2.05%, down from 2.18% in 2021. Not all influencers impacted by fraud do so on purpose. There has been a notable change in the answers to this question over the last few years. Luckily there are many tools to help detect fraudsters, reducing the effects of influencer fraud. Although the respondents didnt clarify this, they presumably intend to work with one of the influencer platforms offering influencer identification technology. A study in the US found that 58 percent of respondents followed a virtual influencer. When you are searching for influencers to promote your brands, you will want to focus on those influencers who are followed by the type of people most likely to be interested in your products or services. Male Millennials make up almost a fifth of all YouTube viewers, more than double their female counterparts. Substack (the newsletter platform), who raised a total of $82 million at a valuation of $650 million, VSCO (the photo-editing app), now valued at $550 million, after raising $85 million in funding, and. A clear majority of firms now recognize the advantages of using technology to assist them with their influencer marketing. Maintaining a competitive edge and capturing the attention of your target audience As more influencers gravitate toward New York City, the Big Apple is fast becoming the Share a few contact details and we'll send a download link to your inbox, As well as our annual survey collating data related to the influencer marketing industry, the Influencer Marketing Benchmark Report 2023 also collects data from our partner, HypeAuditor, and our, Diversity, Equity & Inclusion (DEI) in Influencer Marketing: Racial and Gender Inequalities Report 2022, Influencer Marketing Industry is set to grow to approximately $21.1 Billion in 2023, 63% plan to use AI in executing their influencer campaigns, 2/3rd of these brands will use AI for influencer identification, Over 83% of our survey respondents still believe influencer marketing to be an effective form of marketing, 71% admit to having increased the amount of content they produce and share, 67% of those respondents who budget for influencer marketing intend to increase their influencer marketing budget over 2023, 23% of respondents intend to spend more than 40% of their entire marketing budget on influencer campaigns, There is a strong preference for working with small (nano - 39% and micro - 30%) influencers ahead of expensive macro-influencers (19%) and celebrities (12%). Also, when you consider Instagram's core audience of 25-34 females, it is hardly surprising that beauty influencers would be popular on the platform. Slightly more of our respondents operate eCommerce stores than those who don't. 31 Influencer Marketing Stats to Know in 2023 - HubSpot Blog It was in 2021 that TikTok made its first appearance in our charts, rising from merely being lumped in "Other" in 2020 to 45% usage in 2021. There has been a small but noticeable change in this statistic this year. People initially spend considerably more time online than pre-Covid, which hasn't completely reversed despite many people returning to work. It would be interesting to know if the bulk of the firms not measuring ROI are those who merely give influencers a product discount rather than paying them directly. Other notable VC investments into the Creator Economy last year included: The FTC continued to scrutinize the online activities of businesses, sending out over 700 Notice of Penalty Offenses letters in October 2021 alone to large companies, top advertisers, leading retailers, well-known consumer product companies, and major advertising agencies. The general satisfaction felt by firms that have engaged in influencer marketing seems to flow through to their future planning. Previously, those giving free samples outnumbered those paying cash to influencers. The Race For Creator-Friendly Tools Is On. Indeed, there was a danger that influencer fraud could stop the still-nascent industry in its tracks. The second most important factor is content production at 24% (noticeably down from last year's 34%). The State of Fashion: Beauty. Clearly, the amount that a firm spends depends on its total marketing budget affects the proportion it chooses to devote to influencer marketing. 13% of respondents (up from 9% in 2022) intend to devote 30-40% of their marketing budget to influencer marketing. Last year we commented on seemingly inconsistent results to this question. Presumably, it is mainly large firms with more sizable marketing budgets that pay influencers with money. If they are based in a different country from where you operate, PayPal or something like Wise is much easier than a wire transfer or a manual transaction. A virtual influencer is a digital character created using computer graphics software. Similarly, it would be unwise for an automotive dealer to opt for a famous beauty influencer, even if she has millions of followers (unless they were promoting a car targeting women). This leaves a mere 3% intending to decrease their influencer marketing budgets. The State of Influencer Marketing 2021 - AspireIQ We have seen that brands prefer cultivating long-term relationships with influencers. Influencer Marketing ROI (Return on Investment) | The Complete Gui 55 Influencer Marketing Agencies to Work With in 2023. Therefore, it should be no surprise to see quite some variation on what firms spend on the activity. Social commerce has particularly taken off in China, where nearly one in two internet users purchased from social networks in 2021. A contentious issue in influencer marketing in the past was the amount of automation you can successfully use. Hopefully, it will soon merely be a chapter in the industry's history. We asked those respondents who paid their influencers a new question this year about how they structured their monetary rewards. We asked our respondents whether they had worked with the same influencers across different campaigns. Therefore, it should be no surprise that a similar number (70%) also measures the ROI from their influencer campaigns. When asked about whether they had ever used virtual influencers, 60.4% admitted to having done so. Aspire in Moses Lake, WA Expand search. The State of Influencer Marketing 2021 - Linqia It will be interesting to see if this figure rises over time, as more people discover what AI can achieve. This ties in with other results that indicate that most businesses using influencer marketing are happy to use tools and platforms (or work with agencies that do so) nowadays. Indeed, as we saw in our State of Influencer Marketing Benchmark Report 2022, there are now 18,900 influencer marketing-related agencies, platforms, and services. This year's Influencer Marketing Benchmark Report is brought to you in collaboration with our partners at Refersion. The Memo: Apples VR Headset, The IKEA Of Electric Cars And Bleisure Class, 17 Big Donts For Senior Leaders When Sharing News Of Layoffs, 20 Tips To Optimize Your Team's Performance Level Without Burnout, 20 Key Characteristics Needed In Todays Nonprofit Leaders, Eight Comms Pros Share Must-Have Features In Customer Service Chatbots, How Goal-Setting Can Drive Enterprise SEO Revenue, AI, Machine Learning And Automation: What Agencies Need To Know. We have noticed elsewhere that brands have changed their most common reasons for working with influencers. trioaspireconference.org - Save the Date This result shows a marked change from previous years, yet it seems inconsistent with increases in firms tracking sales and paying influencers based on the sales they generate. Time will tell whether the nature of brand-influencer relationships changes in any significant way. Successful businesses understand the importance of marketing, including influencer marketing, in tough times, and increase their expenditures on this, even when they have to cost-cut expenses elsewhere. TikTok is contagious and addicting. Anybody who knows the younger generations will understand this statistic. Full Report (83 pages) In 2022, the beauty marketdefined as skincare, fragrance, makeup, and haircaregenerated approximately $430 billion in revenue. The key to successful influencer marketing is matching your brand with influencers whose fans are similar to your preferred customers and whose values match your own. Brands carry out influencer marketing for a range of purposes. By 2022, however, much of the world was learning to live with Covid, clamoring for something resembling their old lives. Despite this, a significant 60% of influencer marketing relationships are campaign-based (albeit down from 72% in 2022), with only 40% "always on" (28% last year). This could represent more brands entering the industry, dipping their toes in the water before making long-term commitments to influencers. For example, HubSpot reports that 82% of their respondents used content marketing in 2021, up from 70% in 2020. When the pandemic struck, for example, the influencer marketing industry was uncertain about its potential effect on both creators and brands. We have seen a gradual movement towards quarterly campaigns over the last few years, and this year the longer campaign period came out ahead of monthly campaigns. As with Instagram and TikTok, more young females watch YouTube videos than males: Females 13-24 (26%) vs Males 13-24 (22%). These figures are little changed from those reported in 2021. A further 19% spend $50K to $100K (up notably on last year), 10% $100K to $500K (also higher), and 4% spend more than $500K. This is, however, noticeably down on last year's 84%. The most common niche in which Instagram influencers posted in both 2020 and 2021 was Lifestyle. In 2022, we will probably see a continuing shift toward social commerce as more consumers embrace shopping directly from social networks. In the past, firms found influencer marketing challenging because they lacked the tools to facilitate the process organic influencer marketing can be very hit-and-miss, making it frustrating for brands trying to meet their goals. As the data here indicate, it is still a problem for many influencers. The most popular suggestion (64%) was using social media analytics to identify the most effective influencers for a particular brand or campaign. However, very little has changed this year, with the comparative percentages remaining almost identical. After a few years of robust growth in influencer marketing, you might have anticipated marketing budgets to have shifted to "the next big thing." No wonder more brands are wanting involvement there. And most importantly, the engagement rate for TikTok influencers is high at all size tiers. Influencer Marketing: The Ultimate Guide (And Free Template) Far fewer brands chose to place their focus on larger influencers, with 19% opting for macro-influencers (100K-1M) and 12% mega / celebrity influencers. That's roughly three times Amazon's average daily sales, By 2025, social commerce is expected to account for 17% of all ecommerce spending, Creator Economy Market Size is estimated to reach $104 Billion in 2022. Indeed, engagement for accounts with over a million followers (0.95%) is now less than half what it was in 2018 (1.97%). This possibly reflects the reality of a small to medium-sized business. For example, mega-brands like Coca-Cola, Nike, Intel and BMW have all gotten in on the game with sponsorships of tournaments and esports influencers. 97% of the owners say that they get the money for influencer marketing from their marketing budget. This year, 83% favor the measure against 20% who don't. Do I qualify? We asked our respondents about which they believed would deliver the best ROI in 2023 (we didnt include Facebook Reels in our survey options), and discovered a relatively close battle for the top position between TikTok (42%) and Instagram Reels (34%). Technology is coming to influencer marketing. This year, a new suggestion was attribution and tracking, which 6% of our respondents considered mo. To help marketers keep up with the evolving influencer marketing industry, we analyzed Aspire internal data and survey results to give you an inside look at what the worlds top brands and creators are planning for 2022. Industry trends that will carry on into 2022 How to accurately measure influencer marketing ROI Growing social media platforms Average cost per engagement per channel And much more. Instagram remains the network of choice for influencer marketing campaigns. This year we asked our respondents about the general types of influencer sites they used. Overall, this is further proof that influencer marketing continues to be successful and is now sufficiently mainstream that it cant be considered just a fad. The beauty industry is an ever-evolving and highly competitive space. Macro-influencers (81.25%) and Mega-Influencers (69.7%) are most likely to report facing discrimination than smaller, less popular influencers. Aspire's report on influencer marketing revealed that 94% of brands plan on investing most of their content marketing budgets in video content in 2023. Use a suitable image as shown in the relevant section of the Google doc (headed as above). This year's 70% is the equal highest rate we have seen since the inception of this survey, with the results since 2017 all falling in the range of 65-70%. Sales warrants its own category this year, with 11% support. We saw above that 75% of our survey respondents stated that they track sales from their influencer campaigns. Last year, we introduced a new question asking our respondents whether they used any tools developed in-house to execute their influencer marketing campaigns. So, if you wish to market to Gen Z (females at least), you should be searching for TikTok influencers with whom to partner. People could select multiple options if they used more than one. This is down on last years 28% and 2021s 19% assigning this level of marketing budget. This is logical it is much harder for popular influencers to reply to every comment and engage as closely with each follower as for smaller Instagrammers. It is advisable, therefore, that all brands use the available tools to ensure influencer authenticity when searching for suitable influencers. 20% expect to spend less than 10%, similar to last years result. As with last year, the majority of Instagram users are people aged 25-34 (46.81%), followed by 1824-year-olds (33.17%). It is clear that most firms that try influencer marketing are happy with the results and are willing to continue with the practice. Despite the comparative fall in increased content, many firms still realize the insatiable demand for online content. However, one thing to be aware of is that the Influencer Marketing Hub now caters to all types of eCommerce. As a result, it has the highest share of the market for online store solutions. industry benchmark report, The State of Influencer Marketing, for the fourth year in a row. Those who tracked sales from their influencer campaigns were asked about their methods of determining these influencer-generated sales. Unsurprisingly, many businesses have struggled to survive in the new environment. On average, 49.23% of influencers globally are affected by fraud. However, many firms now use tools (whether in-house or from third parties) to facilitate the process. 3. This year we saw a change at the top, with 28.1% opting for measuring ROI and campaign results (up from 23.5% last year, the first time it featured separately). So, if people weren't watching videos on Netflix, they were talking and making videos about what they'd streamed on TikTok. However, it may also reflect that nano and micro-influencers have far higher engagement rates than their more famous counterparts, and may be better value for money for brands wanting to reach a specific dedicated audience. 35.7% place more emphasis on awareness (also up, from 33.5%). Indeed, 63.2% of our respondent businesses are feeling the impact of 2023s macroeconomic circumstances. UC Browser remains the most widely adopted mobile ad blocker, with an estimated 310 million users worldwide, although use of The Brave ad block browser grew 92% YoY over 2020. Although somewhat less common, the second most popular intended use of AI in influencer marketing is locating and distributing relevant content (13.3%). From a mere $1.7 billion at the time of this site's beginning in 2016, influencer marketing is estimated to have grown to have a market size of $13.8 billion in 2021. Influencer Marketing Expected to Grow to be Worth $21.1 Billion in 2023, Sizeable Increase in Content in Recent Years, But Rate Slowing, An Increasing Majority Have a Standalone Budget for Content Marketing, 63% of Respondents Feeling the Impact Of 2023s Macroeconomic Woes, The Vast Majority of Respondents Still Believe Influencer Marketing to be Effective, Though There is More Negative Thinking Than Previously, More Than 80% of Our Respondents Intend to Dedicate a Budget to Influencer Marketing in 2023, 67% of Respondents Intend to Increase Their Influencer Marketing Spend in 2023, 23% of Respondents Intend to Spend More Than 40% of Their Marketing Budget on Influencer Marketing. This is possibly a reflection of a lack of interest from Generation Alpha and a reduction in Generation Z only 4.27% of 1317-year-old females and 3.11% of 1317-year-old males now use Instagram. . This is a noticeable increase from last year's 77% result and considerably up from the 37% who claimed they would dedicate a budget in our first survey in 2017. Well, this year YouTube improve on this, coming in eighth place. An additional 28% plan to allocate 20-30% of their total marketing spending to influencer marketing. For this report, we consider "influencers impacted by fraud" to be Instagram accounts with over 1000 followers with growth anomalies or inauthentic engagement (comments and likes from bots, giveaway comments, comments from Pods, etc.) At 12%, Sports were three times as popular this year than last. 23% of respondents are dedicated fans of influencer marketing, intending to spend more than 40% of their marketing budget on influencer campaigns. Nearly two years in, influencer marketing is stronger than ever; brands are projected to spend $15 billion on influencer marketing during 2022. While organic influencer marketing may be challenging to scale because of the time needed for influencer identification and wooing, there are now approximately 18,900 Influencer Marketing related services/companies worldwide that businesses can use to help scale their efforts. Its hard to understand the reason for such a significant change. This is down somewhat from last years 49.23%. INFLUENCER MARKETING STATISTICS. With platforms push for in-app shopping, influencers are becoming the entire marketing funnel. It kept its popularity in 2022, increasing slightly to 46%, but dropping a position to third. For example, 54% of the respondents run eCommerce stores versus 45% not doing so. Of course, some firms will have a range of influencers they call upon depending on the nature of a particular campaign, the products they are trying to promote, and the target market. Unsurprisingly influencer fraud has had a much greater impact on larger Instagram accounts than on small ones, where fraudsters have less to gain. This result is also consistent with our earlier results about the percentage of businesses that track sales. 57% of our respondents believe that influencer marketing is definitely a scalable tactic in their marketing ecosystem, and a further 26% think it is somewhat of a scalable tactic. The worlds #1 Influencer Marketing Platform, Run any type of influencer campaign on Aspire, Deep dive into our influencer marketing resources. Facebook doesn't have as many high-profile influencers as its more visual counterparts, but it is still popular, particularly with older audiences. Large influencers have the highest engagement rate, while small influencers have the lowest, although that is still high compared to other platforms. AspireIQ is a community intelligence marketing platform built for advocacy. Unfortunately, they were also learning to live with the economic consequences of Covid, with supply chain disruptions, a chronic shortage of key workers, and creeping inflation threatening to unsettle the global economy. The days of doing everything organically seem well gone. While TikTok may have returned to its usual engagement distribution pattern, YouTube hasnt (quite) yet. 43% of the brands surveyed said they spend less than $10K annually on influencer marketing (higher than last year's 37% - these are probably newcomers dabbling with influencer marketing). In reality, payment methods depend very much on the location of the influencers. 5. Indeed 74% of our survey respondents stated that they track sales from their influencer campaigns. Clearly, the amount that a firm spends depends on its total marketing budget and the proportion it chooses to devote to influencer marketing. In my business, weve seen growth in influencer activity across multiple platforms. We have seen a comparative increase in B2B businesses over B2C firms compared to last year. Influencer Marketing Hub Influencer Marketing The State of Influencer Marketing 2023: Benchmark Report. This mode allows business leaders to leverage their expertise and be intentional about building community on the platform. The beauty market in 2023: A special State of Fashion report Payments based on product level (4%) and tiered incentives (4%) were less common. It will be most interesting to see how this metric trends next year. Physical feature discrimination (21.75%) followed this, then racial discrimination (13.29%), political discrimination (9.06%), and sexual discrimination (8.16%). Firms are having to compete more fiercely for the consumers dollar, pound, or euro. In our most recent Creator Earnings: Benchmark Report, we calculated the total Creator Economy market size to be around $104.2 billion and on par with a substantial growth trajectory similar to the Gig Economy. This is because some customers are more lucrative for a business than others they buy high-margin products and add-ons. Several influencer platforms have recognized this area of concern over the last year and have implemented tools to discover and deter influencer fraud. In both cases, more females than males use Instagram. This gradual reduction is probably an indication of increased usage of platforms and other third-party tools. 53% of our respondents believe that influencer marketing is definitely a scalable tactic in their marketing ecosystem, and a further 39% think it is somewhat of a scalable tactic. This may be one of the reasons that this statistic has gradually fallen over each of the last few years. One statistical oddity (although numbers are small) is that for age groups 35 and older, the usage of the genders reverse, with more older males using Instagram than their female counterparts. The most common method (49%) was paying at a flat rate. Also, many larger firms use agencies for all their marketing, including influencer marketing. st valuable when partnering with influencers. What is influencer marketing? We have now written 50 reviews at the Influencer Marketing Hub by the beginning of 2022 but have only just scraped the surface of the industry. ASPIRE Prize 2021 | APEC In total, software platforms specifically focused on Influencer Marketing raised more than $800M in 2021. Salesforce Commerce Cloud, and Magento. Perhaps brands have been targeting older Millennials, Generation X, and Baby Boomers more this year with their influencer marketing. An additional 15% indicate that they expect to keep their budgets the same as in 2023. The inherently non-visual category of Music now takes second place, with Beauty dropping to third. Investors recognized the success of influencer marketing and the demand for quality tools and invested heavily in some of the newer influencer software platforms. The majority of marketers have still increased their content marketing, year after year. Does this indicate that older males are more likely to have an interest in graphics, design, and photography than their female counterparts? The influencer marketing industry continues to be a growing business, predicted to increase nearly 19% in 2022 from the prior year. As a result of these conflicting statistics, we now have many respondents (63%) describing the difficulty of finding appropriate influencers with whom to work in their industry as being "medium.".
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