The Inaugural Creator Economy Trend report was carried out by the American Influencer Council (AIC), a body of prestigious members who work to be an advocating voice for content creators. This organization is determined to offer small businesses and influencers everything they would need to see growth in this sector, including crucial resources, business development tactics, and policy information.
Since its foundation in 2020, these members have been collaborating with one another to help build a wealth of legislative content to ensure all figures operating within the Creator Economy are consistently staying ahead of the curve. To amplify their stance as influencers, the AIC also conducts an educational podcast called the Creators with Influence Podcast. This platform showcases an assortment of trending influencers and asks them to express and educate others on their journeys in this industry.
2023 Creator Economy Trend Report
As a way to celebrate International Creator Day, the AIC worked alongside HypeAuditor to collate a wealth of interesting data from organizations such as Pinterest, Snapchat, and The Influencer League. In turn, this report uses interviews with figures such as the Head of Creative Partnership at Snapchat as well as the Founder and President of Gaybors Agency. Plus, this report also relies on quantitative data from HypeAuditior’s recent survey findings, making this a detailed and comprehensive analysis.
Three Key Takeaways
This report offers a selection of valuable insights, allowing us to uncover more about how this industry operates on a regular basis. Listed below are just three key findings from this document.
- Influencers have received more brand inquiries in 2023 compared to last year.
- Nano-influencers and Micro-influencers are responsible for over 60% of the paid ads seen on Instagram.
- Over 28% of marketers found measuring ROI to be the most difficult aspect of influencer marketing.
What Does This Mean for Influencer Marketing?
The first finding within this report expresses the vast popularity of influencer marketing and how more and more brands are looking to reap its benefits. The AIC informs us that an impressive 46.4% of influencers have seen an increase in brand interactions since last year. A further 31% of candidates stated that their level of inquiry remained the same, leading us to believe that content creators are still seeing brand deals and sponsorships, even as the economy continues to rebuild itself after the pandemic.
This report also highlights the power of smaller influencers, especially compared to their larger counterparts. It seems that those boasting 10,000-50,000 followers managed to secure the most paid advertising campaigns on Instagram, whereas those with over 1 million followers only managed to count for 2.8% of paid campaigns. As such, we can assume that brands are more attracted to smaller influencers due to their affordable prices and high levels of engagement. This also gives hope to nano and micro-influencers and supports a more competitive environment within this industry.
Finally, this report explores the type of issues marketers face when working with influencers. 28.1% believed that measuring ROI was their biggest concern, followed by finding influencers at 27.4%. These statistics emphasize the difficulties associated with this form of marketing and how it can be a complex feat to effectively measure engagement. In turn, it seems that brands must be better equipped to conduct more research on their chosen influencer and their target market in order to find success.
Link to the Report
The Inaugural Creator Economy Trend report can be found on the AIC’s website alongside its latest updates and other efforts to support the influencer marketing industry.