64% up budgets for influencer marketing

Key Takeaways

• 64% of brand marketers expect their influencer marketing budgets to increase in 2023.
• 81% completely or partially outsource their influencer marketing.
• 77% use paid social campaigns in addition to creator marketing campaigns.

It appears that 2023 will be a much bigger year for influencer marketing, with 64% of brand marketers planning to increase their budgets for the format. According to a new survey of 150 brand marketing leaders conducted by creator marketing firm Open Influence.

Brand marketers see the value in influencer marketing

A growing number of brands are allocating funds to influencer marketing, with 13% allocating at least $1 million. However, nearly one-third (29%) admit that selling the concept of creator marketing to upper marketing is still difficult.


A whopping 81% of brand managers outsource their influencer marketing completely or partially to avoid common in-house challenges such as negotiations and contracting (20%) and developing an effective strategy (17%).

According to the study, 77% of brands prefer long-term relationships with creators. That's great news for influencers, brands, and consumers because it allows them to build stronger relationships over time while keeping campaigns cost-effective.

Measurement is the big issue

It is difficult for less than half of brand marketers (40%) to obtain accurate influencer marketing metrics. Analytics tracking is difficult, and first-party data is not always reliable or accessible. One of the reasons 77% run paid social campaigns alongside their creator marketing campaigns could be the attribution issue. This enables brands to maximize their efficiency and ROI.

Top platforms and influencer choice

Instagram remains the most popular influencer marketing platform, followed by TikTok. As audiences prefer to view content, short-form video is rapidly attracting more marketing dollars. The TikTok app is driving much of the growth in short-form video.


When it comes to influencer selection, brands value follower count three times more than creator expertise. 17% would like to collaborate with macro creators with more than 5 million followers. It just goes to show that numbers are still important.

Brands, on the other hand, want relatable (35%) and aspirational (36%).

It's encouraging to see that 91% of brand marketers are open to exploring new trends in influencer marketing and will continue to experiment in 2023 and beyond.