Every week, the SRW team meets internally to share trends impacting our industry. Sometimes, those trends are too hot to keep to ourselves. Take this one, from our paid media team…
Aspire.io, an influencer marketing platform, recently released a “How Much to Pay Influencers” report, surveying 1,000 creators to help marketers better understand how to compensate influencers. The results might have you thinking twice about your influencer strategy.
- 6% of creators on YouTube earned more than $10,000 per month compared to 3% of Instagram creators and 2% of TikTok creators.
- 50% of YouTube creators earn more than $500 per month, as opposed to 40% of Instagram creators and 36% of TikTok creators.
- YouTube has a $0.04 cost per engagement, the lowest of any social platform.
Mull over those stats and couple them with another Aspire.io report showing that YouTube has an average 50% engagement rate across all influencer tiers. In contrast, average engagement rates on TikTok hover around 17% and Instagram influencers’ average engagement rate is just 3%. So while YouTube may be more expensive in the short term, its engagement rates make it worth consideration.
More food for thought: Creators can dive deeper into products in each video thanks to YouTube’s longer video format. It allows creators to share their product experiences with consumers and not just flash a label in a 30-second video. Consumers on YouTube, for the most part, only interact with the channels they subscribe to. For marketers who have well-defined niches, partnering with YouTube influencers could be the key to authentic brand storytelling.
Maybe you don’t drop everything now (Speak Now (Taylor’s Version) coming soon…) and throw your entire influencer budget into YouTube. But, don’t overlook the platform either. While only 3% of creators surveyed said YouTube is their preferred platform (Instagram and TikTok remain the top platforms of choice for influencers), the right YouTube influencer partner can have a huge impact on your business goals.
