A survey compiled by the creator marketing platform CreatorIQ and Tribe Dynamics, a company it acquired in 2021, reveals that TikTok is the new top platform for brands in influencer marketing.
Encompassing sponsored content across various platforms, including Instagram, TikTok, YouTube, and others, the survey identified that TikTok's branded content consistently achieves higher engagement rates compared to its competitors.
Instagram continues to hold the top position as the most popular social media platform in the influencer marketing space. In fact, 69% of marketers planned to spend most of their money on influencer marketing on Instagram in 2022, and as of 2021, the industry of influencer marketing on Instagram is worth over a billion US dollars.
However, TikTok is fast approaching the top spot, with 45% of advertisers now using TikTok for influencer marketing campaigns. With TikTok offering many different micro-influencers on the platform that brands can partner with, brands are attracted to the potential of reaching audiences who are ready to consume content.
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