5 Key Takeaways From A New Influencermarketing Survey, Including When TikTok Will Overtake YouTube And Facebook In Branded Content Spend

30 Influencer Marketing Statistics To Have On Your Radar 2022 Marketing
  • The economic crisis reduces marketing budgets.
  • New research from Insider Intelligence suggests that this may not affect the creative economy in the long term.
  • Data shows that influencer marketing is now a $5 trillion industry in the United States.

    • The economic downturn, fueled by record inflation and a stock market crash, has affected many companies with brand cuts, layoffs and reduced marketing spending as companies reallocate funds.

    However, new data points to one exception: influencer marketing.

    A survey released earlier this week by Insider Intelligence found that despite the current economic uncertainty, marketers plan to increase spending on creative collaborations, particularly TikTok. In fact, with low-cost advertising, now might be the best time for marketers to buy an app if they don't already have one.

    While some creators have recently faced delayed payments and canceled brand deals, Insider Intelligence reports that marketers expect the industry to invest $5 trillion in 2022, up from $3.9 billion last year. Some marketers come from fields not typically associated with influencer marketing, and those who already work with creatives increase their budgets.

    Estimates in this research are based on 21 sources and 359 data points, including estimates from other research firms, business reports and influencer marketing agencies.

    Here are 5 insights from the August 2022 Insider Intelligence survey.

    1. Instagram will make even more money with influencer marketing.

    Last month, in a short-term beta, Meta updated Instagram and Facebook to resemble TikTok. The latest move fueled speculation that the tech giant feels particularly threatened by a platform that is draining its advertising budget.

    However, this survey shows that Meta-owned Instagram will continue to receive the largest share of influencer marketing dollars for years to come. 2. The return of tourism influencer marketing.

    As more than half of the US population has been vaccinated against COVID-19 and countries are reopening their borders, leisure and business travel have resumed.

    That means travel marketing is also on the rise, according to Insider Intelligence. The number of people booking trips to the United States online is expected to grow to 120 million by 2022.

    3. TikTok spends will soon surpass Facebook and YouTube, and costs are still low.

    According to the survey, TikTok is now an investment platform. Influencer spending on platform marketing is expected to surpass Facebook and YouTube by 2024. According to the data, by 2024, social media platforms will occupy 18.5% of the total market share.

    Insider Intelligence also found that prices are low for marketers who haven't invested dollars in TikTok yet, though they will rise in the coming years. Marketers are still hesitant, with some considering TikTok a beta platform, but the survey suggests they should try to get in now to take advantage of the low prices.

    4. When it comes to collaboration, marketers should focus on video.

    The short video is now all the rage. Instagram Reels has ditched feed posts, leading to less engagement, and TikTok is taking ad dollars from other platforms.

    Insider Intelligence advises marketers to focus on branded content on Instagram Reels and include shorts in branded YouTube offers.

    5. Traders should still think carefully about investing during a recession.

    The survey shows that while the creative economy remains strong, that doesn't mean it's without challenges. The lack of a standardized measurement system for different social media platforms means that it remains difficult to demonstrate return on investment (ROI), which is especially important in times of economic uncertainty.

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