So much has changed in just one year. To understand how the influencer marketing industry has evolved and how we can adapt going forward, we put together our annual industry benchmark report, The 2022 State of Influencer Marketing, using internal data and surveys. Here’s a sneak peek at some of the most notable influencer marketing statistics we found.
For a full analysis of the social media ecosystem, download the report.
1. 76% of brands plan to increase their influencer marketing budgets.
Influencer marketing budgets are increasing in 2022, as this strategy has proven to bring impactful results for brands of all kinds.
2. The majority of brands and creators will prioritize TikTok in 2022.
While Instagram remains the biggest priority for both brands and creators in the influencer marketing space, 74% of brands and 75% of creators are planning on investing more into TikTok in 2022. This is a big jump from last year, when just 47% of brands and 48% of creators said they’d focus more on TikTok.
3. The number of brands that are planning to invest more in Pinterest has hit an all-time high.
As Pinterest ramps up on its shopping features and creator monetization tools, we’re seeing brands follow suit. 35% of brands are planning to invest more into Pinterest in 2022.
4. 70% of brands are working with smaller creators.
With more focus on authenticity over follower count, 70% of brands are working with nano and micro-influencers — or those with less than 60,000 followers — to leverage their highly engaged audiences and lower cost per engagement (CPE).
5. Nano-influencers achieve more than double the engagement rate of macro-influencers.
Brands aren’t just working with smaller creators to stretch their budget. We found that nano-influencers consistently achieve the highest engagement rate, with an average of 3.69%. This is more than double the engagement rate of macro-influencers.
6. Nearly half of all brands are tapping into affiliates and ambassadors.
In addition to their influencer partners, 49% of brands worked with affiliates, and 43% joined forces with brand ambassadors, indicating a growing shift to evergreen campaigns and long-term brand partnerships.
7. Cost per engagement has jumped to $0.54.
While there are a multitude of factors that go into how much brands pay an influencer — such as the influencer’s experience, relevance, industry, and joint work history — the average cost per engagement (CPE) on Instagram is $0.54. This is a 69% year-over-year increase from last year, when average CPE was $0.32.
8. At the same time, 75% of influencers are willing to work with a brand for just free products.
While influencers are becoming more expensive to work with, 75% of creators say they’re open to working with a brand for just free products, as long as they love the brand or the product value is high.
9. 91% of brands are planning to invest more into video content.
The high engagement rates that TikTok and YouTube videos achieve indicate the huge opportunity that brands have on video platforms. It’s no surprise 91% of brands are planning to invest more into video content 2022.
10. Influencer content receives 42% more engagement than last year.
Notably, the average number of engagements on influencer campaigns has jumped 42% since last year. This can be credited to the high quality relationships that brands are building with creators, resulting in more genuine content and better engagement.