The global consumption for social media has significantly surged in the last decade and has continued to shape the way we promote brands and ideas. As of July 2022, there are 4.7 billion active social media users worldwide. More and more brands are using influencer marketing to promote services and products.
Because traditional mass media advertisements now have digital counterparts, brands no longer have to solely depend on big celebrities to amplify their messages and boost sales. Today, influencer marketing is one of the best ways to reach your target audience.
The Strength of Influence
Influencer marketing is the collaboration between brands and online content creators for promotional purposes using social media channels. There’s a lot of clout happening on Instagram, Facebook, YouTube, Twitter, and Tiktok, with influencers driving traffic to their sites.
Influencers establish a relationship with their followers and can influence product choices based on this connection that’s built on trust and shared interests. Because of its strong impression, response and sustained online presence, influencer marketing has become a major part of digital marketing.
But what is the most profitable social media platform for influencers and advertisers?
In the US, YouTube tops the social platforms at 28.7% when it comes to the number of consumers following influencers online. It is closely followed by Instagram at 28.4%, and then TikTok (20.5%), Facebook (14.6%), and Twitter (4.6%). (Source: Statista)
YouTube topping the list may be attributed to the rise of video content consumers, especially the significant surge since the pandemic. Viewership now encompasses not just entertainment but also education, work, and communication. And whether it’s a short endorsement clip or a 30-minute full feature content spot, videos have proved effective for advertising to audiences across various demographics.
Facebook still has the most users, with 2.9 billion active users as of January 2022. This is followed closely by YouTube and WhatsApp. Because of this, complementing your influencer marketing efforts with a strong Facebook presence can be a good strategy.
A high engagement rate means that a good percentage of the influencer’s audience are interacting with the content. To measure this, you divide the total number of engagements by the total number of followers.
The average influencer engagement rate in 2022 was between 1 to 3.5%. Beyond 3.5 to 6% is considered high, and above 6% is very high.
Depending on the tier of the influencer, the average engagement rates may vary. Mega influencers on Instagram (over 1M followers) may have a lower average engagement rate of 1.4% for sponsored posts- but that’s still 14,000 engagements compared to a nano influencer (less than 10k followers) at 4%, which only translates to 400 engagements.
It is not just about the number, though. Influencer marketing also involves the connection between the influencer and the audience. Smaller influencers can have stronger connections with their audiences, which gives them more influence over purchasing decisions.
For example, let’s say you sell supplies for alcohol ink painting. An expert in alcohol ink painting with artist-followers would likely be a better choice for your brand than a mega influencer who doesn’t have an audience that is interested in art.
Here are the different tiers of influencers that you can utilize depending on your campaign’s needs, product niche, and target audience.
● Nano: 0K – 10K
● Micro: 10K-100K
● Mid: 100K – 500K
● Macro: 500K – 1M
● Mega: 1M+
Influencers also serve as brand ambassadors, so they have to be carefully picked based on how they reflect your brand values. In the end it goes back to credibility that leads the audience to trust your brand long after they hear about it from the influencer.
The most popular social networks for marketers and best influencer platforms for creators who want to have more collaborations are YouTube, Instagram, and Tiktok.
You can choose the best social media platform to amplify your particular brand's presence based on the top influencers in your industry. Here are a couple of examples:
● Automotive: YouTube, Instagram
● Beauty: YouTube, Instagram
● Business/Corporate: Twitter, Instagram, Facebook
● Fashion: Instagram, YouTube, Facebook
There are a number of things that make influencer marketing a favorite tool of brands and marketing agencies. It’s targeted, measurable, ROI efficient, relatable, and convincing. If you’re interested in using a influencer marketing platform for your brand, Lionize can help. Our software searches through thousands of influencers to find the perfect niche fits for your brand. Contact us today to see how we can help you nail your next influencer marketing campaign.