Influencers and influencer agency staff are set to receive official salary benchmarking information from the Australian Influencer Marketing Council (AiMCO) and the Expand Group.
AiMCO in partnership with recruitment and business agency The Expand Group, released its first-of-its-kind salary benchmarking guidelines for the ANZ influencer marketing industry, following massive growth in the ANZ influencer marketing industry.
In the digital age, influencer marketing has taken over the traditional Mad Men affiliation of advertising. Advertising has moved from the office to home with brand deals desiring ‘day in my life’ TikToks featuring their products as an absolute “staple” to said influencers’ routine.
This new advertising direction is a popular route as influencer use and ad spending have skyrocketed, and 70% of Australian marketers have used influencer marketing in their overall strategies according to a 2021 survey conducted by Socialbakers.
The report comes at a time when around six million Australians consider themselves to be creators, and 19 per cent call themselves influencers.
On an international scale, estimates suggest that global influencer marketing is set to grow to US$24.1 billion by 2025. A significant increase from the estimated US$6 million in 2020 according to a report on social media services by competition watchdog ACCC.
As influencers begin to flock to the ever-growing number of content management agencies nationally, AiMCO’s new report sets a standard salary for all professionals involved in the industry.
The guidelines outline salary expectations for those in the account, brand, influencer marketing, and agency roles, along with people working in the product, data, and technology fields, including solutions and back-end/front-end engineers, and those in C-suite roles.
“Salary benchmarking is not just a number; it’s a tool for building a thriving influencer marketing ecosystem in Australia and New Zealand. By fostering transparency, empowering individuals, and making data-driven decisions, benchmarking benefits both the industry and its passionate professionals, paving the way for a sustainable and successful future”, said Dan Openshaw, head of social media & influencer marketing, Expand Group.
