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Influence Network vs. Industry Averages in 2023

Influence Network is thrilled to unveil its exceptional performance metrics for 2023, showcasing its unparalleled success compared to industry averages.

In the dynamic landscape of the creator economy, we’re excited to share how Influence Network stands out with impressive performance metrics compared to industry averages in 2023. 

Let’s delve into the specifics and understand how these statistics shape the current state of the influencer marketing industry.

Instagram Insights: Influence Network Dominates Engagement Rates

Instagram Grid Post Engagement Rate:

Industry Average: 1.2%
Influence Network: 7.6%

Instagram Grid Post Reach Rate:

Industry Average: 8.8%
Influence Network: 28.0%

Instagram Reel Post Engagement Rate:

Industry Average: 1.0%
Influence Network: 3.6%

Instagram Reel Post View Rate:

Industry Average: 2.3%
Influence Network: 13.8%

Instagram Story Post Reach Rate:

Industry Average: 2.7%
Influence Network: 12.5%

YouTube Standout Performance: Influence Network Commands Attention

YouTube Video Post Engagement Rate:

Industry Average: 1.3%
Influence Network: 3.5%

YouTube Video Post View Rate:

Industry Average: 26.6%
Influence Network: 33.9%

TikTok Triumph: Influence Network Leads in Engagement

TikTok Post Engagement Rate:

Industry Average: 5.3%
Influence Network: 6.6%

TikTok Post View Rate:

Industry Average: 17.1%
Influence Network: 27.0%

A little more about the Creator Economy

The creator economy, often synonymous with the influencer economy, represents an interconnected ecosystem involving creators, audiences, digital platforms, marketers, and agencies. It empowers creators to generate revenue through their content on social media platforms. As of 2023, Citigroup estimates the creator economy at $65.2 billion, projected to reach $74.0 billion by 2024.

Unpacking Influencer Marketing

Influencer marketing revolves around leveraging individuals—be they celebrities, content creators, or experts—to endorse brands and drive social proof. The market is diverse, with influencers categorised based on follower count and focus, ranging from nano to mega influencers.

Creators vs. Influencers: Distinguishing Roles

Creators produce content, while influencers sway purchase decisions through their content. Millennials, a driving force in influencer culture, heavily rely on influencers for product recommendations. Gen Z, while less inclined to follow influencers overall, highly trusts them for beauty and wellness recommendations.

Influencer Marketing Spend: A Growing Investment

In 2024, advertisers are expected to invest $5.89 billion in influencer marketing, marking a 14.7% YoY increase. This growth outpaces social ad spending, emphasising the significance of influencers in shaping marketing strategies.

Evolution of Social Platforms and Creator Independence

Creators are no longer solely reliant on social platforms, with options expanding to include owned channels like blogs, podcasts, and newsletters.

In conclusion

Influence Network’s standout performance in 2023 reflects the evolving landscape of influencer marketing. As the industry continues to mature, creators and brands alike must adapt to changing trends, ensuring equitable partnerships and embracing the multifaceted potential of the creator economy.

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