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Why the resilience? “Well, there [are] a couple of reasons,” said Enberg. “Influencers, especially micro-influencers and nano-influencers, have really risen up over the past year, and they have been able to prove that they can drive real sales, especially from certain subsets of consumers like Gen Z and some millennials.”
Micro-influencers have between 10,000 and 50,000 followers, while nano-influencers have between 1,000 and 10,000 followers, according to Partnerize. What they lack in scale they make up for in engagement, as these communities can be deeply passionate.
“We’re seeing brands fuel more money into micro- and nano-influencers, and that combined then is pushing up the amount of money that’s being spent on influencer partnerships overall,” said Enberg.
The other reason? TikTok. TikTok continues to rise in both consumer usage and brand usage, said Enberg, resulting in more money flowing to influencer marketing on the platform.
Spending outlook
We forecast that companies will spend $5 billion on influencer marketing in 2022, rising to $6.16 billion in 2023. For comparison, we expect all digital advertising spend to hit $248.72 billion this year. Here are a few more stats to know:
74.5% of marketers are using influencer marketing today, but that will hit 88.7% in 2026.
Instagram gets the bulk of spending, with $2.23 billion expected in 2022.
TikTok sits in third place, behind YouTube, though it will pass the video platform in 2024.
“Instagram creators tend to charge a much larger fee, as do YouTube creators, than say creators on TikTok, even though that gap is starting to narrow,” said Enberg.
Chasing the leader
“Instagram is still, by and large, the leader in the influencer marketing space in terms of both the number of marketers that are using the platform as well as the amount of money that they’re spending there,” said Enberg.
“But what we’re also seeing is that a lot of that content that they are posting on to Instagram is being…
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