For publishers and media sites looking to become a force in social media, working with the right influencer can be critical. Likewise, picking the most effective social media platform for marketing can make a critical difference in the effectiveness of the marketing effort. This is the reason Collabstr was created.
According to Kyle Dulay, Co-Founder of Collabstr, the platform operates on a marketplace business model, similar to Airbnb, but for content creation instead of vacation properties. The company collects data from the activities of its users, and uses that data to identify trends in the digital marketing industry.
The report notes that the influencer marketing industry is expected to reach $17 billion in 2023, and that TikTok has overtaken Instagram in terms of the amount of money spent by brands and advertisers on the platform.
“13,000 pieces of content were actually exchanged through the platform this year, so we’re able to analyze that and about 46% of those orders, were done for Tik Tok” says Dulay.
The industry has grown significantly in recent years, and the amount of money spent in influencer marketing industry has grown 15% year over year according to Dulay. With TikTok growth as a platform, it surpassed Instagram in terms of money spent. Brands are now focusing on the younger demographics that are more active on TikTok than other platforms he said.
Influencer Marketing Report
One of the key insights from the Collabstr Influencer Marketing Report is the gender breakdown of the influencer market. According to the report, the vast majority (73%) of influencers on the platform are female, while just 27% are male. This trend is consistent across all social media platforms, including TikTok and Instagram.
This statistic highlights the fact that the majority of influencers are female. Dulay said that this may be because society has traditionally placed more emphasis on women’s appearance and fashion, which can make them more likely to pursue careers in influencer marketing where appearance and personal style are important. Additionally,Collabstr’s research has shown that women tend to be more active on social media than men, which may also contribute to the higher proportion of female influencers.
The Collabstr Influencer Marketing Report also highlights the rise of micro-influencers, which are defined as individuals with a smaller, but more engaged and dedicated following on social media. They often have a niche or specific area of expertise, such as fashion, beauty, or food, and their followers trust their opinions and recommendations. The report says that brands and advertisers are increasingly turning to micro-influencers to reach their target audiences because they appear more authentic and relatable way.
According to the report, the majority (66%) of influencers on the Collabstr platform fall into the micro-influencer category, with followers ranging from 1,000 to 100,000. This trend is driven by the increased effectiveness and cost-efficiency of working with micro-influencers, as compared to more traditional, celebrity-level influencers. Micro-influencers tend to have a higher engagement rate with their followers, and their endorsements are perceived as more authentic and trustworthy.
According to the report, the influencer market is an important and growing industry, with opportunities for both male and female content creators. Collabstr provides a way for brands and advertisers to find and hire content creators on social media platforms like TikTok and Instagram through their platform while the annual report provides valuable insights on the market trends.
“At Collabstr, we strive to provide valuable insights and data to our customers and clients, which can help them make informed decisions about how they invest in influencer marketing,” Dulay said. “We’re proud to be the leading marketplace for finding and hiring influencers and content creators.”