More than half of marketers are advancing their influencer marketing strategies across content, channels, and types of influencers, according to a report by influencer marketing platform AspireIQ.

The report —  titled “The State of Influencer Marketing 2019: An Analysis of the Social Media Ecosystem” — said 90% of brands see the value of repurposing influencer content.

Due to the increasing interconnectedness of the 2 billion people now on social media, influencer marketing has quickly become a non-negotiable marketing tactic for brands. The report found that marketers are running more campaigns than ever. In fact, 84% of marketers run more than one campaign per year, with more than half running over five campaigns with influencers.

Influencer marketijng costs by channel.

Above: Influencer marketing costs by channel.

Image Credit: AspireIQ

In addition, 79% of brands either run or plan to run an always-on influencer campaign.

Repurposing influencer-generated content (IGC) on channels other than social, like websites, emails, ads, and in-store, has now become the standard. More than two-thirds of brands already leverage IGC, and 21% say they plan to do so in the future. Additionally, the types of content brands are looking to create has evolved beyond static images. In fact, 82% of marketers say they will invest in more video content next year, 55% will invest in stories, and 43% will invest in written content.

VB TRansform 2020: The AI event for business leaders. San Francisco July 15 - 16

Brands are also looking at new ways to maximize their efforts by changing the types of influencers they work with. More marketers have found success by partnering with micro-influencers, who have 42% higher engagement rates than macro-influencers.

Above: Influencer engagement is changing.

Image Credit: AspireIQ

“We’ve reached an era where influencer marketing is about more than promoting your brand on social. Now, influencers power content engines to help brands tell a consistent story on all the channels where their users are active,” said AspireIQ president Anand Kishore in a statement. “In the future, brands and influencers will work even closer to build and foster communities that engage in a shared passion for what those brands make.”

The report also said influencer costs are rising. The current average price per influencer post is 26 cents. The baseline cost-per-engagement has almost doubled since June of 2018, and will likely continue to climb.

Above: Influencer channels

Image Credit: AspireIQ

But influencer marketing pays off. On average, brands spend $6,249.81 per campaign but see a return-on-investment (ROI) of 432%, and investment in influencers continues to climb. With ROIs sky-high, 69.8% of marketers plan to increase their influencer marketing budget in the next year.

TikTok has strengthened its stake. According to data from the Influencer Marketing Factory, 70% of influencers are between 14 and 19 years old, and brands spend an average of $10,000 for influencer marketing campaigns on TikTok. AspireIQ works with more than 400 brands on influencer marketing.