HypeAuditor, the AI analytics platform for brands who want fair and transparent influencer marketing, has released its third annual “State of Influencer Marketing” 2022 report, unveiling the key Influencer Marketing trends in 2021 across TikTok, Instagram and YouTube.
Overall, the report reveals that the influencer marketing industry is going strong and HypeAuditor conservatively estimates that the global Instagram influencer market will grow from USD $13.8 billion in 2021 to $22.2 billion by 2025.
The rise of social commerce, and the redistribution of the advertising budget from television and offline towards digital advertising, are some of the key drivers of this growth.
When it comes to fraud, HypeAuditor’s data reveals that almost half of Australian Instagram influencers (49%) continued to be impacted by fraud in 2021.
There has been a decrease of 6.16% since last year, indicating a slight and rather slow progress by Instagram in its fight against the use of fraudulent methods on its platform.
Micro (1,000 -5,000 followers) and Nano (5,000 – 20,000 followers) influencers saw the most decrease in fraudulent activities with 4.41% and 6.76% decrease respectively.
TikTok leads the charge for influencer creativity
After a year of releasing multiple new features and functionalities to inspire creativity and help users better engage with content, TikTok took the first place as the top growing social media platform in 2021 reaching 1 billion active users – an 18.3% increase in 2021.
64.8% of TikTok users are under the age of 24, of which 39% are between 18-24 years.
However, despite the significant growth in active users, the engagement rate (ER) across all influencer tiers on TikTok has dropped compared to 2020.
Mega-influencers (over 1m followers) have the highest ER of 13.9%.
The fastest growing influencer accounts on TikTok include @Adammilardovicc who saw a 4064% growth, fashion model @unicewani grew her TikTok account by 1018% reaching 4.8m followers and Melbourne-based @rusalien with 4.7m followers following 755% growth.
Instagram preferred by marketing specialists
When it comes to marketing specialists preferred social media channels, Instagram came out on top with 68% saying they use the platform for their marketing campaigns.
Instagram creators offer opportunities for brands to market their products and services authentically as customers get to know about a brand from someone they trust and following.
On the other hand, due to its highly engaging visual medium that boasts a massive viewer count of 2 billion logged-in monthly users, 56% of marketers name YouTube videos as the most important type of content for Influencer Marketing.
Short form video content continues to offer a huge advantage to digital marketers.
The ultra-snappy nature of Shorts allows marketers to funnel bitesize chunks of information to followers, without demanding they watch a long video.
The other big advantage of Youtube is its reach.
26,400 influencers on the YouTube platform have more than 1 million subscribers, which represents a big opportunity for brands to reach new demographics and audiences.
Alexander Frolov, CEO and Co-Founder at HypeAuditor analysed these insights.
“The influencer marketing industry continued to gain momentum and popularity in 2021, in part due to the increased reliance of consumers on social media as e-commerce platforms.”
“Consumers and brands alike are realising that TikTok is a force to be reckoned with.”
“Social commerce will be mainstream in 2022 as social media platforms continue to provide new and innovative selling solutions to make shopping within the platform very easy.”
Other key findings from the report
On average, brands will get $4.98 of Earned Media Value for each $1 paid for Instagram Influencers promotion
Finance was the top trending topic on Instagram in 2021 as Australians seek to learn more about how to manage their money
Brands can expect to pay from $60 for a YouTube sponsored video when partnering with a nano-influencer to over $2500 when partnering with a mega-influencer.