ICYMI: The creator economy is projected to reach a value of $22.5B by 2025.
But as the industry is still fairly new, benchmarking campaign results can be a challenge.
So, as a trusted social media and influencer marketing platform, we analyzed over 45K posts and 2.9K campaigns to help you plan in 2024.
Keep reading for a sneak peek into the findings from our Influencer Marketing Benchmarks Report, or download it now, for free.
Table of Contents
Influencer Benchmarks: Platform Trends
Here are the some of the standout platform trends from our Influencer Marketing Benchmarks Report:
#1: Budgets Are Tighter
The average cost per activation (CPA) across most platforms has declined.
We predict it’s a mix of: tightening marketing budgets amid economic uncertainty, no universal influencer rate, and an increase in diversified influencer incomes beyond brand partnerships.
#2: Audiences Are More Sophisticated
The majority of cost per engagement (CPE) rates have increased.
Our hypothesis: Social media users are savvier to sponsored posts, so content has to be original and creative.
TIP: Trust that influencers know what'll work best for their audience. The more organic a sponsored post feels, the better.
#3: Short-form Video Reigns Supreme
TikTok and Reels have the highest impressions and engagements across platforms.
The takeaway? Short-form video is a no-brainer for brand awareness plays.
Which platform drives the most engagement, and which has untapped potential? Download our free Influencer Marketing Benchmarks Report for the full breakdown.
Influencer Benchmarks: Creator Trends
We analyzed Nano, Micro, Mid, and Macro creator personas — here are some noteworthy stats:
#1: Following ≠ Engagement
FYI: Nano and Micro influencers (those with up to 100K followers) garner the cheapest engagement compared to their Mid and Macro peers.
Why? Sponsored content from Nano and Micro creators feels less like an “ad” and more like a suggestion from a friend.
#2: Less Partnerships for Macro Influencers?
We have less data for Macro influencers, pointing to the trend that once an influencer hits Macro-status, they are more likely to launch their own businesses, be more strategic (and choosy) with partnerships, and come with a heftier price tag.
Take this as another sign to work with Nano and Micro creators!
#3: Fair Pay Is Key
In April 2024, we surveyed 369 US-based creators and found that 74% said fair pay was a top priority when working with brands.
While there's currently no universal rate for sponsored posts, the CPA (cost per activations) included in our report should be used as a baseline when negotiating!
Influencer Benchmarks: Industry Trends
Influencer marketing isn't one-size-fits-all, so we analyzed 13 different industries. Here are three top takeaways:
#1: All Eyes Are on TikTok CPG Campaigns
Impressions per post are 135% higher among TikTok CPG campaigns than all other analyzed platforms combined.
#2: Fashion & Apparel Brands Are Investing in Pinterest
ICYMI: Fashion and apparel brands are taking to Pinterest for their latest and greatest campaigns.
Our guess? To fuel inspiration, increase brand awareness, and drive clicks.
#3: Food & Beverage Campaigns Are a Go-to
Good news for food and beverage brands — the saying “we eat with our eyes first” holds up, as food content performs well across all platforms.
Download Later’s 2024 Influencer Marketing Benchmarks Report
Later’s Influencer Marketing Benchmarks Report is the ultimate roadmap to see how your results stack up and if your goals are achievable.
In this report, you’ll gain valuable insights to understand:
Campaign performance across industries
Baseline costs across influencer personas
Platform breakdowns and comparisons by content type
Discover industry trends and how you compare to your competition — download now.
