Influencer spending is increasing and the stage is set on TikTok for a “marketing boom”—more brands just have to jump in. From sea shanties to baked feta dishes, TikTok has become not only a space for “micro-entertainment,” but a hub for influencer marketing in the last year—and it’s only continued to grow rapidly. According to Traackr, TikTok has seen a 164% increase in sponsored posts and a 481% increase in engagements in 2020. It’s the only app “to have seen substantial growth in this area” with paid-for cosmetic influencer posts down 23%, 10%, and 39% for Instagram, YouTube, and Facebook. Meanwhile, Klear’s State of the Influencer Marketing report found that the use of the #ad hashtag (which has 36 billion views) increased by 130% last year. In recent years, brands like Chipotle and Red Bull have increased their influencer budgets on the platform, while Procter & Gamble and Dunkin’ have collaborated with popular creators like Charli D’Amelio. (The Drum)
