Crucial Influencer Marketing Statistics And Trends To Scale Your Business
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Influencer Marketing Statistics: Influencer marketing has emerged as one of the most powerful marketing strategies in the past few years. It is being used by millions of trades and brands. It entails an alliance between influencers and brands to promote a service or a product. Now these days, Influencer marketing is considered as a potent approach that can help businesses grow. Brands love to be associated with individuals who have specific niches and have a major fan following online. Such individuals are known as influencers. These influencers are usually seen as experts in their respective fields and they can affect their followers’ buying decisions. Here are some essential influencer marketing statistics that will reveal how far the influencer marketing industry has come over the years in terms of its growth and effectiveness.
Vital Influencer Marketing Statistics And Facts
- The industry of influencer marketing is expected to reach $ 21.1 billion in 2023 with a growth of 29.58% from last year.
- In 2023, the engagement of marketing will increase by enhancing their investments claimed by 89% of marketers who are currently engaged with influencer marketing.
- In the same year for the 1st time, almost 17% of marketers have invested in influencer marketing.
- Influencer marketing is an effective form of marketing accepted by 92% of marketers across the world.
- Around 56% of marketers have invested in influencer marketing work, especially with micro-influencers.
- In 2023, the number of Instagram for influencer campaigns is predicted to be 4.1% and the number of influencer marketing on TikTok is supposed to be 4%.
- By the end of 2027, the market size of influencer marketing platforms is estimated to be $37.38 billion with 30.9% of CAGR starting from 2023 to 2027.
- 49% of customers say that their buying behavior depends on influencers’ recommendations.
- Around 41% of Twitter users admit that they are ready to buy a product if it is suggested by an influencer.
- Influencers who have 1000 to 5000 followers (Nano influencers)have the highest rate of engagement.
- The average projected return on investment (ROI) for every dollar spent on influencer promotion is $18.
- About 51% of traders say that influencer marketing helps acquire better consumers.
Influencer Marketing Facts and Trends
#1. The budget of influencer marketing is expected to touch $4.6 billion in 2023 in the US
As per influencer marketing statistics, traders in the US will be spending around $4.6 billion on influencers. In 2021, they invested around $3.69 billion in influencers.
#2. Around 67% of traders in the U.S. will be using influencer marketing in 2023
In the United States for every $1 spent on influencer marketing businesses are making approximately $5.2 ROI on the influencer marketing.
#3. The industry of influencer marketing is going to be worth $21.1 billion in 2023
This year, the value of this industry is going to touch $21.1 billion with a growth of 29% from 2022. The growth of the influencer marketing industry is credited to the rising popularity of short video formats on social media platforms such as TikTok, YouTube, and Facebook.
(Source: influencermarketinghub)
#4. 93 percent of traders planned to associate with Instagram influencers as of March 2021
(Source: statista.com)
In 2023, Instagram will be a popular social media platform for influencer marketing.
By the end of 2029, the influencer marketing market is going to be $82.79 billion with a growth of 30.2%.
The biggest market size of influencer marketing is captured by the North American region with a growth of 11.21% in 2023. Whereas the market is expected to reach $8.72 billion by the end of 2027 in the region
#5. In 2023, more than 80% of respondents have invested their budget in influencer marketing.
Whereas, marketing budget allocations in 2023 are followed by a plan on increasing the budget (67%), keeping budgets the same (15%), unsure how the budget would change (11%), and a plan on decreasing the budget (7%).
#6. The number of services or firms linked to influencer marketing and most of brands spend less than $50K.
(Source: influencermarketinghub.com)
#7. 87 percent of users do some activity after seeing a product or service ad on Instagram
Such activities are like searching for more details, visiting brands’ official websites, or apps, or buying the product.
#8. Instagram is one of the most preferred social media networks for brands that want to use influencer marketing
After a slight drop in popularity in 2020, Instagram has shot up quite high in 2021 as most brands have been choosing the platform for their influencer marketing campaigns.
In 2023, for creating effective influencer campaigns and identifying influencers 62.9% have planned to utilize AI (Artificial Intelligence), and ML (machine learning).
On the other hand, 25.4% of influencers are not sure yet but 11.7% of influencers have never used influencer campaigns.
(Source: influencermarketinghub.com)
#9. Influencer marketing payment system
The top method used in 2023 is paying as a percentage of sales value with 53%.
The other common methods are followed by 215 payments based on product level, flat rate payment system (19.6%), and tiered incentives have increased to 6.9%.
#10. Video ads are one of the leading ad formats on Facebook
As per influencer marketing statistics, video ads generate more engagement on Facebook as compared to images. Video ads generate more conversions and ad clicks as well.
#11. 74 percent of customers are ready to spend nearly $629 on a service or product that is suggested by an influencer
Influencer marketing stats show that most customers are ready to invest $1 to $629 on a product or service suggested by an influencer.
#12. Instagram is considered one of the most feasible hubs for consumers to find new products and services
Nearly 79 percent of traders regard Instagram as an essential part of their campaigns. 83 percent of Instagram users use the platform to find new products or services.
#13. Instagram is the most used channel that used Influencer marketing
(source: oberlo.com)
As of 2023, the most common channel used by influencer marketing brands is Instagram 76.7%.
Whereas, other common channels used for influencer marketing are followed by Facebook (58%), TikTok (50%), YouTube (44.2%), Twitter (25.5%), and Snapchat (17.8%).
#14. Teenagers and young adults rely on influencers more as compared to typical celebrities
As per Google influencer statistics, four out of 10 teenagers believe that their favorite YouTuber knows them better than their friends do in real life.
#15. Celebrities who have more than 7 million followers earn around $150000 per post
Celebrity endorsement data shows that YouTube stars make up to $300000 for a sponsored video. Facebook celebrities and Instagram stars earn around $187500 and $150000 respectively.
#16. Social platforms used in Influencer marketing in 2023
(Source: nealschaffer.com)
In the United States marketers used social media platforms for influencer marketing.
In 2023, around 76.6% of marketers used Instagram, and another share of marketers used social media followed by Facebook (58%), YouTube (49%), TikTok (44.2%), Twitter (25.5%), and Snapchat (17.8%).
By the end of 2024, marketers share of social media platform are followed by Instagram (80.8%), Facebook (60.5%), YouTube (52%), TikTok (45.6%), Twitter (25.9%), and Snapchat (18.5%).
By 2025, marketers share of social media platform are followed by Instagram (84.1%), Facebook (62.3%), YouTube (54.9%), TikTok (46.8%), Twitter (26.2%), and Snapchat (19.1%).
#17. More than 90 percent of consumers in the US connect with influencers per week
This boosts brands’ chances of being seen, identified, and considered by consumers.
#18. Traders are planning to increase their investment in influencer marketing in 2022
More brands are expected to opt for influencer marketing considering the benefits it brings to the company.
#19. TikTok came up with a creator fund worth $200 million in 2020
The platform launched this creator fund for content creators to help them earn a living using the platform. The fund is supposed to grow to $1 billion by 2023.
#20. 51 percent of traders say that influencers help them fetch more loyal customers
A brand that produces beauty products always collaborates with a beauty influencer. It positions the brand with its direct target audience.
#21. Cross Channel campaigns are fetching more popularity in 2023
As per social media statistics 2023, each user has more than 10 accounts As the usage of social media platforms continues to increase, it has become essential for brands to opt for cross-channel campaigns for marketing.
#22. Tech growth will also play a vital role in the growth of influencer marketing
With growing scientific innovations, typical ways of influencer marketing are expected to be affected by the launch of artificial intelligence.
#23. Around 60 percent of traders say that content created by an influencer is better than the brand’s content
A single piece of content created by an influencer delivers eight times more engagement as compared to content created by the brand itself.
#24. The effectiveness of influencer marketing is measured by the rate of engagement
The rate of engagement shows the number of interactions a specific content receives such as views, comments, or likes. Traffic and reach are also crucial factors in tracking the impact of influencer marketing.
#25. A new class of influencers is growing steadily
Although regular categories of influencers such as beauty and lifestyle are quite popular, new types of influencers like pet influencers (PetFluencers), financial influencers (FinFluencers), and skincare influencers (SkinFluencers) are as well are growing steadily.
#26. TikTok influencers who have fewer than 15000 fans have more than a 15 percent engagement rate
This platform has completely changed the market of influencer marketing. The algorithms of the platform offer everyone an opportunity to go viral quickly. The precise targeting of the audience is the reason for its greater rate of engagement.
#27. The sales of social commerce are set to reach $1000 billion in 2023
These days, social commerce is not just for ads, many social media platforms as well are offering new sales possibilities to brands. Users now can buy products without leaving an app; it has made the journey of the buyer more convenient.
(Source: Statista)
#28. For traders, it takes one to six hours to create a single piece of content
As per a study, content creation is a time-consuming process for marketers. While influencers create all of their content on their own, brands use the skills of different professionals to create and stock content.
#29. Christiano Ronaldo is the most followed celebrity on Instagram
The football star has garnered around 414.15 million followers on the platform. He is followed by Kylie Jenner with 320.23 million followers, Leo Messi with 313.15 million followers, Selena Gomez with 304.97 million followers, and The Rock with 304.94 followers on Instagram.
#30. Brand Ambassadorship has started to take center stage in the industry of influencer marketing
Now brands have started embracing an always-on approach that sets up a consistent presence of the brand on various social media networks.
#31. Diversity, inclusion, and equality will be the new standards for influencer marketing campaigns
These three factors will be the three main standards of the industry. Consumers and influencers will be creating more inclusive narratives and content.
#32. More brands will include augmented reality in their influencer marketing campaign
Brands and influencers are all set to up their game using augmented reality (AR) technology in their content.
#33. Influencers living in the US sign more deals with brands
The US has a huge number of influencers.
#34. Brands spend nearly $174 for each piece of content generated by an influencer on average
As the market of influencer marketing will grow in the forthcoming years, experts expect an increase in the spending price as well.
#35. 59 percent of brands have a standalone budget for content marketing
A survey done in 2020 shows that many brands have increased the percentage of the standalone budget for content marketing. While 75 percent of brands plan to allocate a major chunk of the fund to influencer marketing in 2022.
#36. 56 percent of brands utilize the same influencer for different campaigns
Most brands like to develop a long-term association with influencers. Big brands might have many different influencers who are used based on the target audience.
#37. Brands offer free product samples and discounts to their influencers
34.5 percent of brands give away free product samples. While 25 percent of companies offer discounts on products to influencers. 34.5 percent of brands remunerate their influencers for money. However, only 5.9 percent of brands choose giveaways as a payment method for their influencers.
ROI-Based Influencer Marketing Statistics
#38. Around 70 percent of traders scale the ROI from influencers’ campaigns
Influencers need to ensure that brands track the ROI from their campaigns to get their due reimbursement.
#39. 82 percent of companies allocate funds for influencer marketing from their main marketing budget
The remaining firms utilize public relations budgets to spend on influencer marketing. It shows that they are utilizing influencers to improve their brand awareness among consumers rather than to boost their sales.
#40. 42.3 percent of brands see the success of influencer marketing campaigns based on conversions and sales
Nearly 42.3 percent of firms focus on conversions and sales to measure the success of influencer marketing. Many brands consider engagement rate, views, reach, and impressions as the most crucial metrics of the success of such kind of marketing.
#41. 28.1 percent of brands that use campaigns In-house believe that scaling ROI and campaign outcomes are the biggest challenge for them
Influencer campaign In-house is linked to many other challenges as well such as finding influencers, regulating contracts and deadlines for marketing, time constraints, and payment issues.
#42. 67 percent of firms are worried about influencer fraud
Thankfully, there are many tools available to identify sham influencers and their activities.
#43. 54.1 percent of brands who have joined hands with influencers have online stores as well
An influencer marketing survey has shown that more than half of the respondent brands associated with influencers have been running eCommerce stores as well.
(Source: influencermarketinghub)
#44. There are five kinds of influencers Mega (Celebrity) influencers, Macro influencers, Mid-tier influencers, Micro-influencers, and Nano influencers.
#45. 75 percent of marketing and communication experts say verified web traffic of the influencer is the most vital factor for selecting an influencer.
#46. The boost in influencer marketing in 2021 has resulted in a reduction in print advertising.
Instagram Influencer Marketing Statistics
#47. 84 percent of Instagram influencers are women
A survey done on 3 million ad posts on Instagram shows that most of its influencers are women.
#48. 77 percent of Fashion Micro influencers choose Instagram
Influencers’ preference for Instagram increases when they are associated with a visual niche like fashion.
#49. Influencers on Instagram are divided into six main categories
The six leading categories of influencers on Instagram are Icons or celebrities, Instructors, Adventurers, Gurus, Creators, and Entertainers.
#50. Fifty-three percent of Micro-influencers have never spent a penny to promote a post
More than half of Micro-influencers have been able to attain influential status without investing any money. Only fewer than 10 percent of them have spent money on Instagram native ads.
#51. More than a half million influencers choose Instagram as their favored channel.
#52. 96 percent of females are more likely to search for suggestions on the internet.
General Influencer Marketing Statistics
#53. Brands consider the audience as the most valuable factor while associating with influencers
Brands usually do not work with influencers who do not have any impact on their followers.
#54. More than 40 percent of Twitter users have said that they have bought a product after seeing a tweet from an influencer
A study from USP Solutions has shown that more than 40 percent of Twitter users have purchased a product after seeing a tweet from an influencer.
#55. 93 percent of young adults depend on online reviews
A vast majority of young people trust online reviews to make informed decisions. They think that online reviews are reliable and authentic.
#56. 306 million people are on Snapchat, which makes it a highly feasible influencer marketing platform.
#57. There has been a boost in the usage of AdBlockers in the US in 2021.
#58. 57 percent of people in the age range of 18 to 24 years in the US have their first contact with social media on their smartphones.
#59. 68 percent of bloggers like to be associated with brands directly rather than via agency or any other network.
#60. Brands look for influencers who already have an attraction towards the company
#61. Friends affect 79 percent of customers’ buying choices on social media platforms.
#62. Lord & Taylor joined hands with 50 Instagram influencers to wear the same dress that has been rapidly sold out.
#63. A study shows that young adults in the age range of 8 to 12 years in the US spent 4 hours and 44 minutes on social media per day watching videos.
#64. 5 percent of traders plan to spend more than half of their budget on influencer marketing.
#65. Micro-influencers will be a major part of Brand conversations.
#66. Influencers who have 10K to 100K followers provide the best blend of engagement and broader reach.
#67. 84 percent of firms are planning to work with social media celebrities in the upcoming year.
#68. LinkedIn accounts for 740 million users and 25 percent of these users are recognized as senior-level influencers.
#69. LinkedIn is considered a highly vital platform for sharing professional content.
Conclusion
Influencer marketing is a booming marketing tactic that can be used in almost all kinds of industries. Brands that use influencer marketing are more likely to establish a long-term association with their consumers. It can boost brands’ visibility and sales as well. These statistics prove that influencer marketing is an efficient and thriving industry. As more traders are opting for influencer marketing, it will bring many positive changes in the industry of influencer marketing
Sources
FAQ.
It is a part of social media marketing that utilizes product mentions and endorsements by influencer folks who are followed by a vast majority of people and seen as experts in their respective niches.
Each influencer marketing campaign is designed differently as per its clients' needs. The cost of influencer marketing differs across various brands and agencies and it changes based on a wide range of factors like the number of influencers
Influencer marketing is a cost-effective choice for small brands. It brings higher returns as compared to other traditional marketing strategies.
Influencer marketing can be used across a diverse range of industries such as beauty, fashion, pet care, events, health and wellness, charity, and finance.
Influencers generally have a less social following as compared to celebrities. Influencers target a niche with content that concerns those people who have common interests. While celebrities, who are more influential are usually utilized in combination with influencers in campaigns.
Shivanjali, a Digital Marketing Expert, regularly contributes to various industry-specific magazines. She is interested in tech statistics, SMO, and raising awareness about technical how-to guides. She can often be found exploring different places on weekends.
