TikTok influencers get more attention than Instagram influencers. Small TikTok influencers have the highest attention rate at 9.8%. Other levels of TikTok influencers and Instagram influencers are close, around 9%. Surprisingly, most marketers still prefer Instagram for influencer marketing.
TikTok’s high attention rate is because people use TikTok in a different way. TikTok is designed for users to easily create and enjoy content. This encourages people to share videos, like, and follow more often, increasing overall engagement.
HypeAuditor, an AI analytics platform for transparent influencer marketing, has launched its “State of Influencer Marketing” 2024 report, revealing key trends across TikTok, Instagram, and YouTube in 2023. The report forecasts the Influencer Marketing market to hit $22 billion by 2025. Factors driving this growth, as per HypeAuditor, include the rise of social ecommerce, a shift in ad budgets to digital advertising, and increased use of ad-blocking software.
Nano influencers rule over Instagram
Close to 4 out of 5 (79.9%) of all Instagram creators in Australia are Nano influencers (1,000 to 10,000 followers). These content creators have a stronger connection with their audience, as they hold the highest Engagement Rate (ER) of 2.3% on Instagram compared to other categories. Brands aiming for strong audience connections and higher engagement will find value in collaborating with nano-influencers and identifying influencers in less competitive niches for unique opportunities.
Most Instagram influencers produce content related to Lifestyle (10.2%), Music (8.8%) and Beauty (5.9%).
TikTok is the top growing social media platform
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 2023 reaching 1.6 billion active users. Two-thirds of TikTok users are under the age of 24, of which 44% are female. If a brand or product is aimed at young women,
TikTok is the ideal social media platform for their influencer marketing campaign.
The Matildas win first place in most talked about brands
Australia’s women’s national football team left quite an impression on influencers and Instagram users after their performance at the 2023 FIFA Women’s World Cup. They were the most talked about brands on Instagram amongst influencers with a total of 5.6 million mentions from 3.6 Aussie influencers, reaching 52 million people.
Kmart Aus took out the second place with 6.4k mentions made by 2.4k influencers and R U OK came out third with 2.5k mentions made by 2.2k influencers.
Marketers prefer Instagram for influencer marketing campaigns
When it comes to marketing specialists, they preferred social media channels, Instagram came out on top with 89% saying that Instagram is the number one influencer marketing platform.
Instagram provides a unique avenue for creators to authentically showcase products and services. It’s a direct connection between consumers and brands through trusted individuals on a platform they frequent. Instagram’s influencer marketing transcends traditional advertising barriers, with creator recommendations considered not just credible but highly effective for brand success.
Moreover a staggering 87% of users take concrete actions after encountering product information in Instagram posts – be it following a brand, visiting a retail store, or making a purchase. These compelling statistics underscore Instagram’s role as a goldmine for leads in 2024 and beyond.
When it comes to fraud, HypeAuditor’s data reveals that although 43% Australian Instagram influencers continued to be impacted by fraud in 2023, there was a 2.15% decrease from 2022, making this the third year in a row that this number has decreased.
The continued decreasing trend in fraud for three years in a row shows that Instagram is getting more effective in its fight against fraud, and that there is more awareness amongst influencers themselves that fraudulent methods of promotion don’t work in the long term. Mega (over 1m followers) and Macro (500k – 1m followers) influencers were the most impacted by fraud in 2023.