Three-quarters of marketers and agencies surveyed for a report [download page] from Upfluencer and Influencer Marketing Hub say they intend to have a dedicated budget for influencer marketing this year, with 8 in 10 saying they had increased the amount of influencer content they produced last year.
Just last year, a survey by Linqia revealed that more than three-quarters (77%) of marketers were interested in working with micro-influencers. It turns out that there is sound reasoning behind this. An analysis of data “based on influencers selected and added to influencer lists by Upfluence software users” shows that engagement rates are higher for micro-influencers (fewer than 15K followers) than for influencers with more followers.
Micro-influencers boasted the highest post engagement rates of all influencer types on Instagram (3.86%), YouTube (1.63%) and, in particular TikTok (17.96%). And, it appears that the more followers influencers have, the lower the engagement rates.
The data isn’t as clear cut when it comes to influencer selection. Although micro-influencers make up the largest share of influencers selected on Instagram (57.8%) and YouTube (51.4%), on TikTok, the largest share (32.6%) of influencers selected were mid-influencers (100K-500K followers).
One finding that the report notes as surprising is that half (50.7%) of the respondents that work with influencers operate e-commerce stores. However, this may be reflective of the shift towards e-commerce that happened last year and is thought to continue into the near future.
To read more, the full report can be found here.
About the Data: Engagement findings are based on influencers selected and added to influencer lists by Upfluence software users. Respondent data is based on a survey of 5,000 respondents representing brands (36%), agencies (32%), PR agencies (4%) and “other” (29%).