influencer marketing statsInfluencer marketing is everywhere on social media today, but how effective is it when it comes to marketing strategies?

Here are our influencer marketing statistics for 2024 that you need to know:

General Influencer Marketing Statistics

  • Influencer marketing is a $21.1 billion industry (Influencer Marketing Hub)
  • If you have over 1 million followers on TikTok, you’ll see an engagement rate of around 10.53% (Influencer Marketing Hub)
  • Nano-influencers will have between 1,000- 4,999 followers (Shopify)
  • Micro-influencers will have between 5,000-20,000 followers (Shopify)
  • Mega-influencers will have between 100,000-1 million followers (Shopify)
  • Celebrities have more than 1 million followers (Shopify)
  • 32% of Instagram influencers create content related to lifestyle (HypeAuditor)
  • ¼ influencers buy fake followers (Shopify)

Statistics on Marketers Working with Influencers

  • 44% of companies believe that the biggest advantage of working with a smaller influencer is that it is less expensive and easier to establish a long-term relationship (Hubspot)
  • 30% of marketers say that Instagram generates the biggest ROI for influencers (Hubspot)
  • 79% of marketers say that Instagram is the most important influencer channel (HypeAuditor)
  • 80% of marketers have included a budget for influencers in their marketing plans (Influencer Marketing Hub)
  • 67% of brands are increasing their budget for influencer marketing (Influencer Marketing Hub)
  • 71% of marketers will use AI to find the best influencer for their brand (Shopify)
  • 36% of brands say that influencer content outperforms created content by brands (Linqia)
  • If you want to hire a nano-influencer, it will cost between $2-$250 per post (Shopify)
  • 86% of marketers believe that the biggest challenge with influencer marketing is selecting the right quality influencer (Shopify)
  • Celebrities can charge up to $1 million for a single social media post (Shopify)
  • 85% of marketers will measure an influencer’s success based on engagement rate (Shopify)
  • The number of followers an influencer has will affect ROI by 9.2% (Shopify)
  • For every $1 spent on influencer marketing, companies make $5.78 (Shopify)
  • 7% of marketers say that influencer marketing had the highest ROI (Hubspot)
  • 55.5% of marketers will depend on TikTok for their influencer campaigns (Shopify)
  • Brands will usually work with at least 10 influencers (Influencer Marketing Hub)
  • 38% of marketers see macro influencers as most successful with their company (Hubspot)
  • 14% of marketers said that TikTok was the best platform to use when working with influencers (Hubspot)
  • If marketers spent 1% more on influencer marketing, they would see around a 0.5% increase in engagement (Sage Journals)
  • Most companies spend less than $50,000 on influencer marketing (Influencer Marketing Hub)

Statistics on Consumer Behavior Towards Influencers

  • 42% of users prefer how-to tutorials from influencers (Influencer Marketing Hub)
  • 31% of users on social media find new products through influencers (Hubspot)
  • In 2022, 81% of consumers enjoy influencer marketing (Industry Dive)
  • Users find that influencers who have relatable personalities are the most appealing (Industry Dive)
  • In 2023, 32% of Gen Z bought a product based on an influencer recommending it (Hubspot)
  • 95% of men follow influencers, while 93% of women follow influencers (Statista)
  • 69% of consumers will trust an influencer over information coming from the brand itself (Industry Dive)

More From Our Collection of Statistics for 2024

Read more facts and stats that can help you get the most of your marketing this year and beyond:

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