Influencer Marketing Trends ReportKey Findings From CreatorIQ’s Annual Influencer Marketing Surveys, and Trends to Expect in 2024
We know you’re busy. Here are some quick hits from this report, and where to find them: Executive SummaryCreator Content Drove More ROI than Traditional Digital AdvertisingPage 866%BrandsPage 1982%AgenciesPage 2683%Industry Leaders55% of organizations reported an increase in influencer marketing investment year-over-year, with one in four brands investing $1M or more.The State of Investment Page 6Sponsored digital ads featuring creators proved the most impactful marketing strategy for marketers at both brands and agencies, edging out other creator-led strategies like affiliate marketing and user-generated content (UGC).Digital Ads Featuring Creators Is the Most Impactful Marketing StrategyPage 8Driving ROI was the greatest challenge for brands, while inadequate budgets remained marketers’ biggest roadblock for the second year in a row.Driving ROI, Inadequate Budgets Present Challenges for BrandsPage 13Influencer Marketing Trends Report | 2
Executive SummaryFor 48% of brands, creator marketing software is the most effective method for tracking influencer marketing performance, outpacing methods like website traffic analytics or search performance, tracking sales, and affiliate links or promo codes.Brand Awareness Is Prioritized 3x vs. Conversion—But Is That the Full Story? Page 1148%55% of brands reported that content production costs for creator marketing have remained the same YoY.In-House Traditional Advertising Costs Increase, While Creator Content Production Costs Hold Steady Page 1055%62% of organizations considered Instagram their primary platform, 2x the rate of any other platform. For 28%, TikTok proved most integral.Instagram 2x More Integral for Marketers than TikTok Page 2362%Influencer Marketing Trends Report | 3
Organization DemographicsAbout the SurveyWe surveyed 225 organizations, from small businesses to enterprises to agencies. Respondents assessed changes that they experienced in influencer marketing practices from September 2022 to August 2023. Unless otherwise noted, our findings refer to this period of time. 61% percent of respondents were based in the United States. The other most common geographic locations included the U.K., Canada, Germany, the Netherlands, and Brazil. We’ve included demographic data to provide context for our creator marketing insights. The report highlights relevant data from our surveys. We’ve elected to round percentages to the nearest whole number, and have also incorporated multi-selection responses. As such, some responses may not add up to exactly 100%.Primary Verticals RepresentedOther Verticals RepresentedSoftwareSports & OutdoorsTechnology & ComputingBusinessGamingConsumer ElectronicsHome & GardenTravelBeautyRetail & ShoppingFood & BeverageAgencyMedia & EntertainmentFashionHealth & WellnessInfluencer Mark...
