21 Insightful Influencer Marketing Statistics + 4 FAQs Answered

Are you a budding influencer ready to make the next step and start profiting from your growing follower base? Big or small, through an agency or on your own, an influencer can make good buck and maybe even build a full-time career out of marketing products and services. That is, if they know the right tips and tricks of the trade. Our list of hot influencer marketing statistics will surely help you along the way.

Ready to dive in? Scroll down our article for 21 exciting stats on influencer marketing to kick-start your business.

• Compared to influencers with larger followings, micro influencers generate approximately 7 times higher customer engagement. 
• $6.50 on every $1 spent is the average ROI for influencer marketing.
• Instagram is the platform of choice for 93% of influencer marketing campaigns.
• Companies that invest in influencer marketing typically see a 54% increase in revenue and leads, as well as a 58% increase in brand awareness.
• Interacting with influencer content is best done through watching videos, according to 64% of consumers.
• Instagram is home to 500,000 influencers whose reach spreads worldwide. 
• Brand-created content underperforms compared to influencer content, according to 51% of brands.
• When deciding which products to buy, almost 50% of consumers “depend on influencer recommendations.”
• Influencers will attract more than half of the entire marketing budget of 17% of companies. 
• Influencer marketing will garner far more investments in 2020 compared to last year.

According to a 2019 report by SocialPubli, more than 9 out of 10 marketers swear by influencer marketing and use it as an integral part of their daily work. Influencer marketing research suggests that it is an ongoing strategy for one third of marketers. Over half use it regularly, while one quarter admit they use it “frequently”. Pretty impressive, considering that this form of marketing is still relatively young. 

(Oberlo)

Even if your business has finite resources, don’t underestimate the power of those rising online stars who are there to promote your products or services. Influencer marketing effectiveness statistics by Izea show that 2 in every 5 marketers plan to increase their investment in influencer marketing in 2020 compared to 2019. At the same time, the percentage of those who plan to invest less is around 5-6%.

(Izea)

There’s no denying that this specific type of marketing can bring many benefits to any business. According to influencer marketing industry stats, businesses that invest in influencer marketing typically see a 54% increase in revenue and leads, and approximately 58% increase in overall brand awareness. In other words, dedicating just a bit of time and resources to this marketing channel nearly doubles the reward. 

(Single Grain)

Based on Mediakix data, by 2022 the influencer marketing industry will have a value tag of over $15 billion. To put that into perspective, in 2019 it was worth approximately $8 billion. This means that in just three years the influencer marketing industry will grow nearly twofold. 

(Business Insider)

Millennials influencer marketing stats shows that a massive 70% of modern teenagers would rather listen to an influencer than a traditional celebrity. Furthermore, 4 out of 10 teens state their friends don’t understand them as well as their favorite influencer. Brands are growingly taking advantage of this trend by using influencers as a channel to convey their messages to potential and existing customers.

(Digital Marketing Institute)

Influencer marketing stats reveal that authenticity is a make-or-break quality when it comes to sponsored posts. When you choose an influencer to promote your business, make sure to review their posts and see if and where they are passionate about the topic. Consumers are sensitive and can easily relate to honesty and openness, which in turns drives engagement and increases your brand’s popularity.

(Fits Small Business)

Social media influencer rates suggest that there is a significant difference between the behavior of buyers from different generations when it comes to influencer marketing. Gen Xers actually buy the most (seven in 10 will make a purchase at some point from a brand they like and follow). On the other hand, promotions are the name of the game for 60% of Baby Boomers that engage with brands across social media. Lastly, engaging with brands at least once per month is a habit of 30% of millennials. 

(The Shelf)

Your brand needs to pitch influencers offers that will add value to their profile and are relevant to your brand to begin with. As a matter of fact, only 24% of influencers end up accepting more than 50% of the offers they receive, not to mention that 44% of influencers say yes to less than 25% of the proposals, according to an Influence.co study.

(Smart Solution 247)

Influencer marketing stats and insights reveal that targeting micro influencers with 10,000 to 50,000 followers  is a much more effective practice than picking influencers with massively large followings. In other words, if an influencer has significantly more followers than the upper limit of a micro influencer, you’re likely looking at a significantly lower rate of engagement as a result. Choose wisely.

(Social Media Today)

If you’re looking to make the most of influencer marketing, video may just as well be your safest bet. Influencer marketing video stats suggests it might be better to opt for video against blogs and other types of content, as 64a% of customers interviewed by Rakuten Advertising prefer to watch videos. 

(Gary Fox)

Influencer marketing is getting $6.50 for every $1 businesses spend on it. Some 70% make $2 or more, while the top 13% earn $20 for every $1 they put in, according to recent influencer marketing ROI statistics  by Tomoson. Any way you look at it, you’re best off steering clear from display ads and their average ROI of $2.56 for every dollar spent.

(Tomoson)

Social media marketing statistics published by the Digital Marketing Institute reveals another interesting fact: when it comes to deciding which products to buy, nearly half of consumers turn to influencer recommendations to the point where they depend on them. That said, it kind of does make sense: if you’re unsure what to buy and you want to avoid wasting money on something you’re not going to like or use, better to turn to someone who’s already tested it. 

((Digital Marketing Institute)

Instagram has definitely become the golden goose for millions of companies around the world. According to Instagram advertising statistics published by Mobile Marketer, Instagram is the platform of choice for 93% of influencer marketing campaigns. As a matter of fact, the last quarter alone saw a 60% hike in the number for Instagram Stories used for the purposes of various influencer marketing campaigns. On the other hand, Twitter saw a 10% decline, while Facebook marked a 20% decline in influencer marketing campaigns.

(Mobile Marketer)

Women are dominating Instagram  – well, at least the influencer marketing segment of the popular social media platform. Instagram influencer marketing statistics  compiled by Klear suggests that ladies post more than four fifths of sponsored content. At the same time,there are close to 100,000 male influences on Instagram as well, so brands looking to engage men have plenty of options, too.  

(Ste Davies)

Some 17% of marketers plan to spend over 50% of their entire budget solely on influencer marketing. A recent survey shared by BigCommerce offers some interesting statistics about influencer marketing. While this percentage may seem insignificant (it does come off as small), it clearly demonstrates how crucial a handful of companies find influencer marketing to be. These companies are typically in the lifestyle, travel, gaming, beauty, fashion and ecommerce industries.

(Big Commerce)

There is a multitude of rich YouTubers around and YouTube influencer marketing statistics are there to prove it. A 2019 report by Wondershare reveals the estimated total earnings of some of the richest YouTubers, including Daniel Middleton (DanTDM) with $16.5 million, Evan Fong (Vanoss Gaming) with $15.5 million, Dude Perfect with $14 million, Mark Edward Fischbach (Markplier) with $12.5 million, Logan Paul with $12.5 million, and Felix Kjellberg (PewDiePie) with an estimated $12.5 million. 

(WonderShare)

Instagram is not simply the preferred channel of marketing influencer. The odds are it is the only channel they actually use for their campaigns. Influencer marketing stats suggest that only 4% of marketing influencers have more than 500,000 followers, around 15% have between 100 and 500,000 followers, whereas the vast majority of 81% of influencers are followed by anywhere between 15,000 and 100,000 people. Remember: it’s the micro influencers that get the best engagement rates, not the ones with the largest following. 

(Oberlo)

According to influencer marketing ROI stats, your safest bet is to go with influencers that have a following of anywhere between 50,000 and 250,000. This is the range where actual conversions are highest. If that’s not enough for your ambitions and scope; instead of one, you can hire several smaller influencers. If you do that, make sure you factor in the additional resources, management work and time needed to deal with more than one influencer.

(Fits Small Business)

Nearly three out of four social media users tend to use multiple platforms, with younger people being the most active by far. Influencer marketing research shows that the average American is active on approximately three of the top 7 social media platforms, including Pinterest, Twitter, LinkedIn, Snapchat, Instagram, YouTube, and Facebook.

(The Shelf)

Thanks to celebrity influencer marketing stats, we know that the impact an influencer has on their audience is a top priority for brands looking for their future campaign partner.  According to 50% of respondents in a survey carried out by Influencer Marketing Hub, relationship with the audience is the most valuable outcome of influencer campaigns. Some 31 see highest value in user-generated content, while 23% work with influencers for distribution of content related to their brand.

(Influencer Marketing Hub)

Influencer marketing data from Lingia’s State of Influencer Marketing Report shows that brand-created content is no match for influencer content. According to the study, some 51% of brands believe so. Yet another confirmation that influencer marketing is not to be taken lightly; it is definitely worth considering and investing in, as it has multiple benefits in store. 

(Shoutcart)

There are many definitions of influencer marketing, but it can be explained as a situation where companies and businesses team up with social media influencers in a bid to increase conversions or brand awareness among a specific target audience. Businesses have different approaches and influencer marketing strategies, but what they typically do is sponsor the online content of an influencer. Their ultimate goal is to endorse their service, product or brand. Driving sales can also be achieved through an influencer marketing campaign. Influencers are well versed in telling stories that are tailored to fit the objective of a social media channel. In other words, when your goal is to reach new audiences, you first need to have great content, and then it’s the influencer’s job to help you build a name and loyal customers among the audience.

The influencer market is practically limitless. Influencers nowadays are able to promote virtually any type of content, brand, product or service. Due to the rapid development of social media and digital technology, the influencer market is virtually global, with a particular emphasis on countries and regions that have infrastructure capable of supporting internet connectivity. In other words, wherever there is social media, influencers follow suit.

The effectiveness of an influencer can be measured in many ways, though quantitative methods, like ROI, are among the more common ones. Influencer marketing has one of the highest ROIs compared to other digital and traditional forms of marketing, though, from a customer point of view, authenticity is the crucial factor for ultimate efficiency.

Once again, there is a plethora of reasons that make influence marketing hugely popular nowadays. On one hand, social media and the internet have become incredibly widespread, reaching even the farthest corners of the globe. This means that every single social media user is a potential customer. On the other hand, companies collaborate with influencers in a bid to maximize their potential and develop their business, driving up engagement and ultimately sales. At the same time, influencers expand their lists of followers, gaining more trust with their audience and boosting their reputation in the process. The financial merits are not to be ignored, either; just think back of all millionaire YouTubers today. Influencer marketing is convenient, hugely effective, profitable, and definitely worth your investments.

Influencer marketing is here to stay; the absolute best thing you can do before investing is to test it out, as it’s not right for every single company or brand out there. Take the time to understand which of your competitors or other companies in your industry have content that performs well, why, and do your best to observe their approach. When it comes to finding the right influencers for you, opt for ones who will align with your style and voice and be willing to promote it in a unique and creative way. In the meantime, we hope the influencer marketing statistics in our list will be a helping hand in picking both the right influencer and a corresponding marketing strategy to launch your business into the stratosphere.

Sources: Oberlo, Izea, Single Grain, Business Insider, Digital Marketing Institute, FitSmallBusiness, The Shelf, Smart Solution 247, Social Media Today, Rakuten Advertising, Tomoson, Mobile Marketer, Ste Davies, BigCommerce, WonderShare, Influencer Marketing Hub, Shoutcart