influencer marketing stats

Influencer 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)
  • Over half of brands who work with influencers run ecommerce stores (Dash App)
  • Nano-influencers tend to have between 1,000- 4,999 followers (Shopify)
  • Micro-influencers tend to have between 5,000-20,000 followers (Shopify)
  • Mega-influencers tend to have between 100,000-1 million followers (Shopify)
  • Most celebrities have more than 1 million followers (Shopify)
  • Likely due to budget constraints, businesses are more in favor of hiring nano (44%) and micro (26%) influencers (Influencer Marketing Hub)
  • And ¼ of influencers will buy fake followers (Shopify)
  • 56% of businesses state that their main purpose of investing in influencer campaigns is to create User Generated Content, with generating sales coming in at 23% (Influencer Marketing Hub)
  • When it comes to compensation, paying influencers is now the norm coming in at 41% with 31% stating the give them a free product (Influencer Marketing Hub)
  • However, it is worthwhile to note that 93% of influencers are willing to work with a brand for free products (Dash App)

Influencer Marketing Statistics by Social Network

TikTok

  • 1 in 4 small businesses on TikTok partner with influencers (Hootsuite)
  • 66% of all brands use TikTok for their influencer marketing efforts (Influencer Marketing Hub)
  • 67% of brands choose to work with micro-influencers, and only 17% work with mega influencers (HubSpot)
  • TikTok macro-influencers charge between $150 and $3,500 per post (Statista)
  • 5% of marketers will depend on TikTok for their influencer campaigns (Shopify)
  • 14% of marketers said that TikTok was the best platform to use when working with influencers (HubSpot)
  • If you have over 1 million followers on TikTok, you’ll see an engagement rate of around 10.53% (Influencer Marketing Hub)
  • Around 45% of TikTok users shop from paid influencer recommendations on their feed (Statista)
  • 23% of engagement rates go towards influencers with under 10k followers (Sprout Social)

Instagram

  • 79% of marketers say that Instagram is the most important influencer channel (HypeAuditor)
  • And 47% of brands use Instagram for their influencer marketing efforts (Influencer Marketing Hub)
  • 30% of marketers say that Instagram generates the biggest ROI for influencers (HubSpot)
  • Speaking of ROI, it is estimated that for every $1 a company spends on Instagram influencer campaigns, they generate around $4 in sales (Dash App)
  • The majority of influencers on Instagram are nano influencers (Sprout Social)
  • 32% of Instagram influencers create content related to lifestyle (HypeAuditor)
  • Around 65% of Instagram influencers worldwide have less than 10,000 followers (Statista)
  • The most popular type of Instagram influencer creates lifestyle content, coming in at 14.32% (Sprout Social)
  • Worldwide, influencers on Instagram charge anywhere from $20-7,000+ per post (Sprout Social)

YouTube

  • When collaborating with brands, 80% of YouTube influencers say that engagement rate is more important than view count (WifiTalents)
  • 90% of people admit they’ve discovered new products and brands on YouTube (WifiTalents)
  • In the U.S., there are roughly 500,000 influencers on YouTube (Statista)
  • Of those influencers, they have around 10,000-50,000 subscribers (Sprout Social)
  • 33% of brands use YouTube for their influencer marketing efforts (Influencer Marketing Hub)
  • Over 169 billion YouTube views on influencer channels come from those in the beauty space (WifiTalents)
  • The most popular type of content YouTube influencers post are product reviews (WifiTalents)
  • If you have over 1 million subscribers on YouTube, you can earn nearly $60,000 per year from ad revenue (WifiTalents)
  • 60% of YouTube subscribers claim they would follow advice on what to buy from their favorite YouTube influencer over celebrities (WifiTalents)

Statistics on Marketers Working with Influencers

  • 85% of marketers believe that influencer marketing is helping them acquire new customers (Influencer Marketing Hub)
  • 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)
  • 80% of marketers have included a budget for influencers in their marketing plans (Influencer Marketing Hub)
  • 58% of marketers utilize AI for sourcing the right influencers for their marketing campaigns (Digital Marketing Institute)
  • 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 $20-$100 per post (Sprout Social)
  • But costs can reach to nearly $7,000 per post (Sprout Social)
  • 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)
  • 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)
  • 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)
  • 94% of small businesses plan spend more on influencer marketing in the next 12 months (Taradel Survey)

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)
  • Due to our digital age, Gen Z generally trusts influencers more than celebrities (Digital Marketing Institute)
  • But out of the general population, 69% of consumers trust influencer recommendations (Marketing Dive)
  • Interestingly enough, 95% of men follow influencers, while only 93% of women follow influencers (Statista)
  • 69% of consumers will trust an influencer over information coming from the brand itself (Industry Dive)

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