Part of the process by which social media platforms are trying to achieve dominance is through enticing content creators. TikTok has tried to position itself as a leading platform for creators who are looking to put content out there and monetize it, but in spite of the fact that this is the case its pay rate has been declining gradually over the years with no sign of it going back up anytime soon.
With all of that having been said and now out of the way, it is important to note that this is not a trend that can be seen on a few other social media platforms. For example, it seems that the pay rate for sponsored posts happens to be going up on Instagram.
According to a survey conducted by Hashtag Pay Me, sponsored posts on TikTok can net a content creator around $2,947 on average. This has gone down from the $3,108 that creators could have received as sponsorship money for a post back in 2021.
Meanwhile, the average rate of pay for a sponsored post on Instagram appears to be telling a different story entirely. Back in 2021, a creator could receive $3,652 on average from a sponsored Instagram post, and this has increased by an incredible 39% to reach $5,077 last year in 2022.
However, despite the relative decline in payment amounts for sponsored posts, TikTok is projected to gain an even larger share of the content creator market in the US by 2024. Back in 2020, around 5.4% of ad spends on influencer marketing went to TikTok. Fast forward to 2024 and this proportion will be closer to 18.5%, which suggests that marketing agencies will be spending more ad dollars on TikTok than might have been the case otherwise.
One thing that creators can do here is to try to get paid for multiple posts. According to the survey, a single post could net an average of $1,427 for creators. However, if they were able to get a contract for five posts, the average payment per post would skyrocket to $3,667.
Also, we might be seeing an era where small creators can finally start to level the playing field. Smaller creators can get close to 20% more engagement due to them having a closer relationship with their followers.
All in all, the world of influencer marketing is going through a series of seismic shifts, and there is no way to tell which platform or influencer will come out on top once they make it to the other side. Whatever the case may be, it seems like TikTok is here to stay.
Read next: How many former employees from the world's biggest companies now run their own businesses?
With all of that having been said and now out of the way, it is important to note that this is not a trend that can be seen on a few other social media platforms. For example, it seems that the pay rate for sponsored posts happens to be going up on Instagram.
According to a survey conducted by Hashtag Pay Me, sponsored posts on TikTok can net a content creator around $2,947 on average. This has gone down from the $3,108 that creators could have received as sponsorship money for a post back in 2021.
Meanwhile, the average rate of pay for a sponsored post on Instagram appears to be telling a different story entirely. Back in 2021, a creator could receive $3,652 on average from a sponsored Instagram post, and this has increased by an incredible 39% to reach $5,077 last year in 2022.
However, despite the relative decline in payment amounts for sponsored posts, TikTok is projected to gain an even larger share of the content creator market in the US by 2024. Back in 2020, around 5.4% of ad spends on influencer marketing went to TikTok. Fast forward to 2024 and this proportion will be closer to 18.5%, which suggests that marketing agencies will be spending more ad dollars on TikTok than might have been the case otherwise.
One thing that creators can do here is to try to get paid for multiple posts. According to the survey, a single post could net an average of $1,427 for creators. However, if they were able to get a contract for five posts, the average payment per post would skyrocket to $3,667.
Also, we might be seeing an era where small creators can finally start to level the playing field. Smaller creators can get close to 20% more engagement due to them having a closer relationship with their followers.
All in all, the world of influencer marketing is going through a series of seismic shifts, and there is no way to tell which platform or influencer will come out on top once they make it to the other side. Whatever the case may be, it seems like TikTok is here to stay.
Read next: How many former employees from the world's biggest companies now run their own businesses?
