Influencer Marketing Report for 2024 Reveals Marketers' Confidence in Its Efficacy Despite Budget Constraints

Aspire's new report on influencer marketing shows some interesting trends for 2024. After looking at data and surveys from over 700 marketers and creators, here's what stands out.

Most marketers, about 69%, plan to spend more on influencer marketing despite budget challenges. This shows they believe in the power of influencers to promote their brands.

Instagram remains a top choice for brands, with 90% planning to boost their activity there. However, TikTok is catching up, especially among creators. About 89% of creators say they'll focus more on TikTok than Instagram.

YouTube creators are seeing a lot of engagement, with an average rate of 49.5%. This is much higher than other platforms, proving that longer videos still have a big audience.

Surprisingly, 93% of creators are okay with working just for free products if they like the brand enough. But it's also important for brands to pay creators fairly for their work to maintain a good reputation.

Nano-influencers, or those with a smaller following, get the highest engagement rates, averaging 4.39%. This shows that even people with fewer followers can have a big impact.

Because of this, 64% of brands are choosing to work with smaller creators. They value realness over the number of followers.
Over the last year, 57% of creators haven't changed their rates. This stability is interesting given how influencer marketing is growing.

Marketers find that content made by influencers does better than other types of brand content. About 63% say it's more effective at engaging audiences.

Lastly, video content is becoming more important. A whopping 94% of brands plan to focus more on making videos, seeing the success of platforms like YouTube and TikTok.

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