The social platform you want to use them on.
The type of influencer (based on follower count).
The kind of partnership or exchange you enter into with them.
Other factors, such as the industry or niche, influencers' engagement rates, and content format, also play a role here.
A lot goes on simultaneously, and while being excellent in any of these aspects is positively correlated to influencer pricing rates, it doesn’t always work linearly. More on this later.
(Feel like you need a quick refresher on influencer marketing at this point? Check out our free influencer marketing guide.)
What are the popular social platforms for influencer marketing?
According to The State of Influencer Marketing uruguay phone number material Benchmark Report 2024, the top five social media platforms for pursuing influencer marketing include:
TikTok (68.8 percent)
Instagram (46.7 percent)
YouTube (33.1 percent)
Facebook (27.5 percent)
X (formerly Twitter) (9.9 percent)
Their data suggests that YouTube is the most expensive platform from this list, followed by Instagram and TikTok. This makes sense, too, as YouTube is video-dominated, requiring more investment in producing videos.
Depending on where your ideal customers hang out and their preferred content, your goal should be to shortlist the platform(s) you want to use. That’s what’s going to work for you.
The next thing to decide is which influencer type you wish to pursue.
Does that mean YouTube will give you less ROI? Nope.
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