CreatorIQ's new report talks about the state of creator marketing and what are some challenges creator marketers are facing. The report is based on 1,138 responses from brands, agencies and creators. According to the report, 74% of the organizations are going to increase their creator marketing budget this year and they will invest more in it. Only 55% of organizations said so in 2023, probably because of the hype all around AI.
This will be a valid investment, especially because of short form video content that not many businesses have the expertise for. Some reports say that the businesses who have already invested $1 million in creator marketing have achieved their highest ROI.
Industry leaders are more likely to spend on creator marketing annually (57%), then enterprise brands (52%) and brands and organizations overall (44%). This is because industry leaders are more likely to partner up with celebrities and big names which gives them big results.
There are also some challenges that creator partnerships are facing that include measuring creator performance (32%), finding new creators (29%), driving revenue (26%) and inadequate budget (24%). There are also some marketing strategies that creator marketers are adopting to generate impactful results. Sponsored content (38%), user generated content (33%), affiliate marketing (33%) and giveaway and contests (28%) are some of these strategies.
If we talk about the top channels for creator marketing, Instagram comes at top, followed by TikTok and YouTube. But 68% of the creators use TikTok as compared to 67% who use Instagram. YouTube (65%) and Facebook (61%) are also used by creators. Some marketers are also using generative AI with 45% using AI to generate short form content, 45% using it for brainstorming and 40% using it for creating or editing graphics.
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This will be a valid investment, especially because of short form video content that not many businesses have the expertise for. Some reports say that the businesses who have already invested $1 million in creator marketing have achieved their highest ROI.
Industry leaders are more likely to spend on creator marketing annually (57%), then enterprise brands (52%) and brands and organizations overall (44%). This is because industry leaders are more likely to partner up with celebrities and big names which gives them big results.
There are also some challenges that creator partnerships are facing that include measuring creator performance (32%), finding new creators (29%), driving revenue (26%) and inadequate budget (24%). There are also some marketing strategies that creator marketers are adopting to generate impactful results. Sponsored content (38%), user generated content (33%), affiliate marketing (33%) and giveaway and contests (28%) are some of these strategies.
If we talk about the top channels for creator marketing, Instagram comes at top, followed by TikTok and YouTube. But 68% of the creators use TikTok as compared to 67% who use Instagram. YouTube (65%) and Facebook (61%) are also used by creators. Some marketers are also using generative AI with 45% using AI to generate short form content, 45% using it for brainstorming and 40% using it for creating or editing graphics.
Read next:
• Creators on Threads Urged to Post More Often, Engage with Comments to Boost Visibility
