30+ Influencer Marketing Statistics You Should recognize

Social media has become one of the most impactful inventions of the 21st century.

Around 61.4% of the globe’s population is energetic on some benevolent of social media platform, be it Facebook, Instagram, or Twitch. But users aren’t just following their friends—68% of users also pursue their favorite brands to remain up to date with their latest products.

Influencers—people with large social media followings—play a huge role in a customer’s purchase decisions nowadays. Brands have the power to collaborate with influencers and drive a sustainable stream of recent customers toward their products and services.

So, is influencer marketing correct for your business? To assist you decide, we’re sharing 30+ influencer marketing statistics, including the costs, platform engagement, and ROI you can expect from various influencer marketing activities and channels. With these stats, you’ll be able to make a more informed marketing way for 2024.

What is influencer marketing?

Influencer marketing is a social media way where brands associate with people who have a large, engaged social media presence. This can include bloggers, celebrities, and everyone in between.

Ecommerce brands can provide away free products, pay for a sponsored endorsement, or collaborate on a large creative assignment in profitability for an influencer’s community post.

The worth of influencer marketing lies in the truth that 69% of consumers depend influencers’ recommendations. If you can identify and collaborate with the influencers that your target customers pursue, you’ll raise brand awareness, generate website traffic, and view positive impacts on your net income.

The influencer marketing landscape

Now that we recognize what influencer marketing is, let’s receive a look at the current landscape with some large picture influencer marketing statistics.

The influencer marketing industry is worth $21.1 billion

Influencer marketing is large business. The business intelligence platform Statista found that the entire influencer marketing industry is worth almost $21.1 billion (a 105% boost from its $10.29 billion economy size in 2021).

One in four marketers use influencer marketing

The influencer marketing industry is booming because so many marketers are leaning on the credibility that influencers propose. HubSpot found that, in 2023, one in four marketers worked with influencers, making it a more popular marketing tactic than virtual events, webinars, and social commerce features like Facebook Shops.

More than half of brands working with influencers run ecommerce stores

Which types of brands are contributing most to the influencer marketing industry’s ballooning worth? Data shows that over half of brands working with influencers have ecommerce stores.

Not only does this stat demonstrate the rise of ecommerce businesses, it also suggests that ecommerce businesses are particularly well-suited to the influencer marketing model. Because their store is accessible to anyone around the globe, ecommerce businesses can distribute products with collaborators everywhere—and in turn, influencers can easily link to their store without being limited by geography.

36% of brands declare influencer content outperforms branded content

Influencer marketing is a popular digital marketing channel because people depend influencers’ recommendations more than branded (and often biased) social media content. It’s why 36% of marketers declare influencer content outperforms brand-created content on social media.

Types of influencers

Search for the type of influencer you desire to collaborate with and you’ll view hundreds (if not thousands) of potential partners. But how do you choose the person you desire to collaborate with on your influencer marketing campaigns?

Influencers are broken down into five categories, each based on their supporter count for their most popular account.

• Nano-influencers: between 1,000 and 4,999 followers
• Micro-influencers: between 5,000 and 20,000 followers
• Power or mid-tier influencers: between 20,000 and 100,000 followers
• Mega-influencers: between 100,000 and 1 million followers
• Celebrities: more than 1 million followers

Let’s receive a look at how they contrast.

Nano-influencers have the highest engagement rate

Granted, supporter count is an significant metric to consider in influencer marketing. However, engagement rate—the percentage of their spectators who pursue their page and like, comment, or distribute their content—is crucial, too.

The higher the engagement rate of your potential influencer, the more likely they are to sway what their followers ponder (and buy). According to 35% of marketers, smaller content creators are more trusted by their audiences.

Data from HypeAuditor found that nano-influencers (though with fewer than 5,000 followers) have the highest engagement rates (2.53%). This seems to reduce as the supporter count skyrockets, until reaching celebrity level (0.92%).

Nano-influencers account for 65% of all Instagram influencers

Speaking of higher engagement rates for smaller influencers, the same survey also found that it’s easier for ecommerce brands to discover smaller partners to collaborate with on Instagram influencer campaigns. Now, anyone can make money on Instagram with just a few thousand followers—with influencing becoming a target career path for 57% of youthful people.

Almost two-thirds of all influencers are accounts with fewer than 10,000 followers on their biggest social media platform. That’s followed closely by micro-tier influencers (27.73%) and mid-tier influencers (6.38%).

The hardest types of influencers to arrive across are macro-, mega-, and celebrity influencers—the latter of which accounts for just 0.23% of all social media influencers.

Marketers are most interested in working with mid-tier influencers

Mid-tier influencers have decent engagement rates and are in large supply—so it’s no shock that marketers and brands are more interested in working with mid-tier influencers than traditional celebrities for influencer marketing campaigns.

The majority (81%) of marketers declare macro-influencers top their list of ideal influencers, shortly followed by micro-influencers (74%).

Demographics most impacted by influencers

The number of people energetic on social media differs by creation—which means that sure demographics are more attuned to influencer recommendations than others.

Gen Z is most influenced by social media influencers

The achievement of your influencer marketing campaigns depends on your target spectators.

If that’s creation Z, people currently between the ages of 16 and 23, you’re in luck: that demographic is most likely to respond to influencer marketing efforts. Recent data shows that 85% of Gen Z shoppers declare that social media influences their purchasing choices. Influencers are also the primary product finding channel for this demographic.

Unfortunately, influencer marketing gets a bit more challenging when you’re going after older consumers, as the percentage of people following social media influencers decreases with age. Just 9% of baby boomers pursue influencers on social media compared to 47% of Gen Z.

21% of social media users under age 54 have bought into an influencer recommendation recently

While Gen Z audiences dominate the influencer marketing landscape, the reality is that people across all age ranges buy into influencer recommendations. Studies display that one in five people aged between 18 and 54 have made a purchase based on an influencer’s recommendation in the history three months alone.

If you require to discover the influencers that your older spectators is following, try starting your influencer marketing way with customer surveys. Adding a straightforward question to your purchase confirmation emails—like “Which influencers do you actively pursue on social media?”—will assist to uncover them.

Men are more likely to pursue social media influencers than women

Data from Statista found that more men than women pursue social media influencers: approximately 95% of men pursue influencers, compared to 93% of women.

Platform-specific influencer marketing statistics

You’ll discover influencers on a variety of different social media platforms. Their popularity, supporter count, and average engagement rate differ from platform to platform, as do the number of users who buy products via influencer campaigns.

79% of marketers consider Instagram the most significant influencer marketing channel

Wondering which channel you should focus on with your influencer marketing way? Data shows that Instagram leads the way in popularity. Some 79% of marketers consider Instagram the most significant influencer marketing hub for their business.

Instagram’s visual component allows your product to be front and center, encouraging social media users to visit your website (and purchase something!). “What works well for us is an up-close image of the influencer holding our product,” says Emily Chong, founder of Healthish.

TikTok has the highest influencer engagement rate

TikTok is a relatively recent influencer marketing platform that exploded in popularity over the history few years. It’s now one of the most popular platform for influencer marketing: some 55.5% of marketers depend on TikTok for their influencer campaigns.

TikTok’s users don’t just passively scroll through the one-minute videos, also. Some 78% of users have purchased a product after seeing it featured in TikTok content from a creator on the platform.

The popularity of TikTok marketing is great information for brands who desire to capitalize on influencer campaigns—especially considering high-profile users on the platform have excellent engagement rates. Nano-influencers on TikTok have an incredible 18% engagement rate, trumping Instagram’s 5% average and 3.5% for YouTube influencers.

To associate with TikTok influencers, commence by looking at the typical engagement rates on their video content. Across their most recent videos, how does the number of likes contrast to the number of people who’ve watched the video?

Fewer brands depend on Facebook for influencer marketing

Facebook has been causing problems for retailers since its shift toward a pay-to-play model. Organic reach—the percentage of followers who view a business’s organic content—has been slowly declining.

It’s no wonder that Facebook is one of the only social media channels with declining influencer marketing activity. Now, just 57% of marketers depend on Facebook’s influencer marketing potential, compared to 61% who use TikTok and 72% who lean on Instagram.

That said, ecommerce brands have access to a whole host of Facebook features that make it straightforward to collaborate with influencers outside of traditional posts. For example, you could:

• associate with an influencer to host a livestream
• Pay to amplify an influencer’s Facebook endorsement with other users
• make Facebook Stories that appear at the top of a users’ Facebook feeds

How much do influencers expense?

There’s no question that each social media channel has a affluence of influencers—but how much should you prepare to spend when partnering with an influencer for sponsored posts?

To assist respond this question, Influencer Marketing Hub determined the influencer marketing spend you should apportionment for each type of influencer

Nano-influencers expense between $2 and $250 per social media post

Nano-influencers are often written off when brands commence looking to the influencer marketing industry. Granted, they have a smaller supporter count (up to 5,000 followers), but they also have the highest engagement rates—meaning followers are tuned into the products or services they recommend.

The excellent information is that nano-influencers demand the lowest rates per sponsored post. Expect to pay:

• $10 to $100 for an Instagram post
• $2 to $200 for a YouTube video
• $5 to $25 for a TikTok video
• $2 to $20 for an X (Twitter) post
• $25 to $250 for a Facebook post

Micro-influencers expense between $25 and $1,250 per social media post

Micro-influencers expense slightly more per sponsored post. As a rough guideline, expect to pay:

• $100 to $500 for an Instagram post
• $200 to $1,000 for a YouTube video
• $25 to $125 for a TikTok video
• $20 to $100 for an X (Twitter) post
• $250 to $1,250 for a Facebook post

If you’re working with a micro-influencer, test the waters with a sponsored Instagram narrative or short TikTok video. It’s the cheapest way to judge whether an influencer’s spectators is a excellent fit for you—especially if the influencer shares their narrative statistics post-collaboration.

Power influencers expense up to $12,500 per social media post

Influencers with more followers demand higher fees because they have a wider pool of potential customers for brands to tap into. They typically earn:

• $500 to $5,000 for an Instagram video
• $1,000 to $10,000 for a YouTube video
• $125 to $1,250 for a TikTok video
• $100 to $1,000 for an X (Twitter) post
• $1,250 to $12,500 for a Facebook post

Macro-influencers can expense up to $25,000 per sponsored post

Macro influencers, a step above power creators, can expense even more money for a sponsored post if they have between 500,000 and one million followers on their largest social media account. Influencer Marketing Hub shows that this can range between:

• $5,000 to $10,000 for an Instagram video
• $10,000 to $20,000 for a YouTube video
• $1,250 to $2,500 for a TikTok video
• $1,000 to $2,000 for an X (Twitter) post
• $12,500 to $25,000 for a Facebook post

Celebrities expense beyond $1 million per social media post

Defined as those with more than a million followers, celebrity influencers earn the most for sponsored content. Influencer Marketing Hub gave estimates of:

• $10,000+ for an Instagram video
• $20,000+ for a YouTube video
• $2,500+ for a TikTok video
• $2,000 for an X (Twitter) post
• $25,000 for a Facebook post

That being said, some celebrity influencers demand even more for sponsored content. Footballer Cristiano Ronaldo reportedly charges $2.3 million per sponsored post. Reality star Kylie Jenner is said to demand $1.8 million.

If you decide to leave this route, bear in mind that you may have to leave through an influencer’s managing throng to confirm a sponsorship. Their bio usually shows who to contact for sponsored content opportunities.

The ROI of influencer marketing

Influencer marketing campaigns can work well for brands with all apportionment sizes. Smaller budgets make nano-influencers a leave-to, but if you’ve got liquid assets to spend on celebrity endorsements, you’ll have the ability to tap into massive recent audiences.

But will you make a profitability on your financing apportionment? And what benevolent of results can you expect?

“Sometimes, it can be tricky to expect an immediate ROI,” says Nathan Chan, CEO at Foundr magazine. “You have to ponder of influencer marketing as a long-term financing apportionment and apportionment for it from a boost and setback perspective.”

Still, there are some statistics to keep top of mind when it comes to influencer marketing’s ROI. In particular, you should receive note of channel-specific ROI when you’re planning your marketing way.

Engagement rate is the most popular way to assess influencer achievement

Most marketers typically kickstart influencer campaigns to generate conversions, but it’s not how most marketers point of reference achievement.

Just 30% of marketers consider sales as a assess of achievement when evaluating the ROI of their campaigns. Engagement rate, reach, and brand lift are not only easier to track, but are more significant to influencer marketers.

Number of followers greatly influences influencer marketing ROI

Despite the truth that most influencers have fewer than 10,000 followers, the Harvard Business Review found that brands get a 9.2% better profitability on their financing apportionment when partnering with influencers that have more followers.

Both posting frequency and supporter-brand fit had what HBR describes as the Goldilocks result: “Influencers who post infrequently are not seen as up-to-date sources of information. They also don’t have enough presence on followers’ feeds to construct intimacy and depend.”

On a post basis, links to the brand’s website have the biggest impact on influencer marketing ROI. Surprisingly, the announcement of recent products has a detrimental impact. According to the update, brands view a 30.5% dip in ROI when collaborating with influencers on this type of content.

Businesses are making $5.78 for every $1 spent on influencer marketing

A survey revealed that businesses make $5.78 for every dollar they spend on influencer marketing. So, if you spend $2,000 per month on influencer collaborations, you’ll likely get more than $11,500 in orders (provided you associate with the correct ones).

receive a look at the other marketing channels you’re using to promote your ecommerce business. Do they get comparable results? If not, it may be period to reallocate your budgets. Pull some spend from your lowest-performing channels and put it toward influencer marketing. It’ll provide you higher marketing ROI across the board.

Brands will get $4.12 of earned media worth for each $1 spent on Instagram influencer marketing

The objective of an influencer marketing campaign isn’t always to drive sales. Partnering with a high-profile, trusted influencer increases your reach and brand awareness. You’re exposed to more people than you were before—especially on Instagram.

HypeAuditor estimates that retailers will get $4.12 of earned media worth for every dollar they spend on influencer marketing through Instagram.

Marketers update influencer marketing has a higher ROI than SEO

HubSpot’s State of Marketing update found that 7% of respondents declare influencer marketing has the highest ROI out of any campaign. That beats social media direct messages for customer service, SEO, and content that reflects a brand’s core values.

Influencer marketing challenges

As you can view, influencer marketing has many advantages. You’re able to boost your reach, construct depend, and generate product sales though influencer marketing. But the landscape is changing—and marketers are facing some challenges that are worth keeping in mind.

Monitoring ROI is the biggest influencer marketing test

Not every supporter who views your influencer’s sponsored post will purchase immediately. People might view the post, visit your brand’s website, and profitability to it three weeks later when they ponder about the issue your product solves.

This is why influencer marketing is the biggest test for over 60% of marketers, beating:

• Selecting the correct standard influencers (55.86%)
• Content standard (52.25%)
• Brand safety (49.55%)

One in four influencers have bought fake followers

The drive for any social media user to become an influencer pushes people to do shady things. The most questionable: buying followers. Data shows that 9.5% of Instagram accounts are bots.

Identifying fake followers and inauthentic engagement is a huge battle for marketers relying on brand partnerships with content creators. One in four influencers have bought fake followers, hence why brands are calling out for better influencer marketing data and metrics to allow for more transparency.

Tools like Grin and HypeAuditor assist brands to spot whether an influencer has fake followers. But there are some telltale signs that display an influencer’s spectators isn’t authentic:

• Their following/supporter ratio is high. This could indicate that they only have a large following because they’re in a pursue-for-pursue scheme.
• Their posts are littered with spam comments. Emojis, random hashtags, or “enjoyable post” comments from bot accounts indicate that the influencer is probably ungenuine.
• They have a low engagement rate. If a potential influencer has 500,000 followers and their typical post has just 1,000 likes, there’s something odd going on—likely that they’ve paid for followers.
• Large, sudden jumps in followers. Gaining 100,000 followers overnight might be normal for celebrities—for nano-influencers, not so much. Use one of the tools mentioned above to view how an influencers’ supporter count has increased over period. A leisurely, steady boost usually indicates that they haven’t paid for fake followers.

Social algorithm changes are a issue for 48% of marketers

These days, more and more social media platforms are turning to a pay-to-play model. Organic reach is on the decline, not just for brands but for influencers, too. Keeping up-to-date with those algorithm changes is a battle for almost half of social media marketers.

No apportionment for ads? Don’t worry. Work around social algorithm changes by leaning into alternative content formats. If you’re partnering with an Instagram influencer, for example, don’t just consent on one feed post. boost the reach of your sponsored content by having the influencer repost it to their Instagram narrative or repurpose the content into a Reel or post on your own page.

Each of those tactics boost the mileage of your influencer marketing campaigns—making sure more people view the sponsored content you’ve paid for. Of course, you can always seek marketing financing to boost your ad apportionment, but it’s excellent to recognize that you can expand your reach through organic means and not just paid advertisements.

The state of influencer marketing in 2024 and beyond

The state of the influencer marketing industry has evolved dramatically over the history few years. Here’s how the industry is set to transformation as we head into 2024 and beyond.

In 2024, brands will spend $7.14 billion on influencer marketing

The surge in influencer marketing budgets means that brands will spend an estimated $7.14 billion on influencer-related marketing campaigns in 2024. That’s a 15.9% boost from the $6.16 billion in 2023.

A quarter of brands will spend 40% of their marketing apportionment on influencers

The worth of influencer marketing is undeniable, and retailers are becoming more aware of it. Almost a quarter of marketers schedule to invest more than 40% of their marketing apportionment into influencer marketing—a huge boost from last year’s 5%.

If you’re unsure on how to set budgets for your own campaigns, aim for 10% of all planned marketing spend. That gives you room to experiment with different channels, formats, and influencers without too much uncertainty.

71% of marketers desire AI to assist them discover the correct influencers

Artificial intelligence (AI) has been the buzzword of 2023. That’s not set to transformation as we head into 2024 and beyond, with even the influencer marketing industry set to be revolutionized by machine learning technology.

A Linqia update found that 71.82% of marketers would like to use AI to discover the correct influencers. Just over 65% desire AI to assist them analyze the influencer act, and little over half desire it to streamline their workflows.

Tools like HypeAuditor and Affable are adding AI capabilities into their software, but the demand for AI in the influencer marketing niche is only set to skyrocket as we head into 2024.

Use these influencer marketing statistics to fine-tune your way

These influencer marketing statistics display that collaborating with high-profile social media users has the potential to meaningfully impact your sales.

And understanding these statistics will assist you make more informed marketing decisions—like what type of influencer to collaborate with, what channels to prioritize, and what benevolent of profitability you can expect.

But the most significant takeaway of all is this: influencer marketing is accessible to all brands, not just brands with large budgets. With these statistics in mind, you’ll be in a better position to make an influencer program that’s correct for your business as we head into 2024.

“recall: influencer marketing is a long game,” Emily Chong of Healthish summarizes. “When an influencer posts about your product, people won’t buy straight away—many will just commence following your brand and others will buy over period through retargeting campaigns, and so on. Each activity compounds, so track everything over period.”