Whether you like it or not, social media has been one of the heavily influential innovations of our age.
As per Influencer Marketing Statistics, around 47% of the world’s population is active on a social media network, whether it’s Facebook, Instagram, or Twitch. However, users aren’t only following their friends; 53% of users also follow their favourite companies, using social media sites to make purchasing decisions.
An influencer has the following characteristics:
- the ability to influence others’ purchase decisions due to their authority, expertise, position, or relationship with their audience,
- a following in a certain niche with whom they actively engage.
The size of their audience is determined by the popularity of their specialty. Social media influencers have created a reputation for their knowledge and experience on a given issue.
Is influencer marketing suitable for your company?
Influencer marketing is an effective marketing tactic for expanding your brand. It may assist your company in reaching out to new prospects, establishing authority, increasing brand loyalty, and, most importantly, increasing sales!
Yes, you are excited to witness the tremendous benefits of influencer marketing, but you are unsure whether the success can be repeated in your firm.
You’re tempted to launch your influencer marketing campaign, but you’re also unsure: am I truly ready for this? Is my company a good fit for influencer marketing?
To assist you in making your decision, we’ve compiled a list of influencer marketing statistics, including prices, platform engagement, and ROI from various influencer marketing activities and channels. With these statistics, you’ll be able to develop a more educated marketing plan as we approach 2023.
- What exactly is influencer marketing?
- The landscape of influencer marketing.
- Influencers of many forms.
- Influencers have the greatest impact on certain demographics
- Influencer marketing statistics by platform
- What do influencers cost?
- The Return on Investment of Influencer Marketing
- Challenges in Influencer Marketing
- Influencer marketing beyond 2022
What exactly is influencer marketing?
Influencer communication is a marketing media strategy in which marketers work with people who have a large and active presence on the internet. Bloggers, celebrities, and everyone from between are all welcome to apply.
eCommerce companies may give away items, pay for a sponsored endorsement, or collaborate on a large creative endeavor in return for an influencer’s public medium. The significance of celebrity endorsements is due to the fact that 59% of customers trust influencer advice, compared to 38% who confidence branded (and frequently biased) branded social networking material.
If you can discover and engage with the influencers that your target consumers follow, you can increase brand recognition, website traffic, and have a favorable impact on your bottom line.
the Landscape of influencer marketing.
Now that we’ve defined influencer marketing, let’s take a look at the current scenario using some big picture influencer marketing statistics.
The industry involving influencer marketing is valued $13.8 billion.
Influencer marketing is a significant deal.
Consider the following: According to Statista, the total sector is valued over $14 billion in 2021 (up 42% from $9.7 billion in 2020) and is expected to cross $16 billion in 2022.
Ecommerce stores are used by 50.7% of businesses that deal with influencers.
Which businesses are contributing the most to the burgeoning value of the influencer marketing industry?
According to data, more than half of firms that deal with influencers have ecommerce storefronts.
This not only demonstrates the expansion of ecommerce enterprises, but it also implies that ecommerce businesses are especially well-suited to the influencer marketing approach. Because their shop is open to the public, they may exchange items with colleagues all around the world.
As a result, influencers may effortlessly link to their business without regard for region.
Influencers of many forms.
You’ll find hundreds (if not thousands) of potential collaborators if you search for the type of influencer you want to work with. But how do you choose who to collaborate with on your influencer marketing campaigns?
Influencers are classified into five groups based on the number of followers they have on any specific social media outlet.
The “Nano influencers“, , as the name implies, have fans varying through one thousand to five thousand (1,000-5,000)
The “Micro influencers” are kind of influencers with the followers ranging five thousand to twenty thousand(5,000-20,000).
The “Powerful or mid-level influences” are the second most influential among all the categories as most of the audience is engaging with them and as per the influencer marketing statistics their followers can be in numbers ranging twenty thousand to hundred thousand (20,000-100,000)
The “Mega Influencers” most influential among all as per stats there following audience ranges from hundred thousand to a million(100,000-1,000,000).
The “Celebs” aka celebrities and are established in the market with a massive following of one million plus (1m+)
Let’s see how they stack up.
The Nano influencers:
To be sure, follower count is a crucial measure to consider when it comes to influencer marketing. However, the engagement rate—the proportion of their audience that follows their page and likes, comments on, or shares their content—is also important.
The higher your prospective influencer’s engagement rate, the more likely they are to alter what their followers believe (and buy).
According to HypeAuditor data, nano-influencers with under 5,000 followers have the greatest engagement rates (5%). This appears to diminish as the number of followers grow.
The Micro influencers:
Speaking of greater engagement rates for smaller influencers, the same poll discovered that it is simpler for ecommerce firms to locate smaller partners to cooperate with on influencer campaigns.
Almost half (47.3%) of influencers have 5,000—20,000 followers on their most popular social media site. Following closely after are mid-tier influencers (26.8%) and nano influencers (18.74%).
The most difficult sorts of influencers to find are macro, mega, and celebrity influencers, with the latter accounting for only 0.5% of all social media influencers.
Marketers want to collaborate with micro influencers rather than celebs.
Smaller influencers have a greater engagement rate and are plentiful. As a result, it’s not surprising that marketers and companies choose to deal with micro influencers rather than traditional celebrities for influencer marketing efforts.
The majority of marketers (77%) rank micro influencers first on their list of ideal influencers, followed by macro influencers (64%). No-payment and affiliate influencers are on the decline, with less than one in every five firms including them on their list of ideal partnerships.
Influencers have the greatest impact on certain demographics.
The amount of persons who use social media varies with generation. As a result, it stands to reason that certain populations are more receptive to influencer suggestions than others.
Social media influencers have the largest effect on Generation Z.
Your target demographic determines the effectiveness of your influencer marketing activities.
If you’re a member of Generation Z, those aged 15 to 23, you’re in luck. This group is the most likely to respond to influencer marketing initiatives.
Unfortunately, targeting older consumers makes influencer marketing a little more difficult. The proportion of individuals who follow social media influencers declines with age.
On social media, only 22% of Millennials, 17% of Gen X, and 10% of Boomers follow influencers.
However, if you’re targeting Boomers, influencer marketing isn’t entirely out of the question. One of the most famous elderly influencers on Instagram right now is Helen winkle.
She has been on Instagram since 2013, and since then has managed to amass more than 3 million followers., is an excellent illustration of how older generations are increasingly embracing social media.
Start your influencer marketing approach with customer surveys if you need to uncover the influencers your older audience is following. Including a simple question in your purchase confirmation emails, such as “which influencers do you regularly follow on social media?” will assist in identifying them.
Women aged 16 to 24 are 30% more likely than males to follow social media influencers.
According to Statista, women outnumber men in the influencer marketing industry. Women make up roughly 81% among all social influencers, while men make up only 19%. Women make up 84% from all social influencers, while men make up only 16%.
A similar trend can be observed in the number of female users of social media who invest through digital advertising.
One-third of Gen Z women aged 16 to 24 follow an influencer on social media, while only 22% of men do.
Influencer marketing statistics by platform
Influencers may be found on a multitude of social media sites. Their popularity, following count, and average engagement rate vary each platform, as does the number of consumers that purchase things through influencer marketing.
Instagram is seen as the most essential influencer marketing medium by 95% of marketers.
Do you know which channel you should prioritise in your influencer marketing strategy? According to data, Instagram is the most popular social media platform.
The visual component puts your goods in the spotlight, enticing social media users to visit your website (and buy something!).
With 83% relying on Instagram Stories, the clear majority of marketers regard Instagram to be the most essential influencer marketing hub for their organisation. It is more popular than Facebook (79%), YouTube (45%), and Twitter (35%).
As a consequence, in one year, influencer marketing on Instagram increased by 48%.
TikTok has the greatest rate of influencer involvement.
TikTok is indeed a new celebrity marketing technique that has gained popularity over the last year. From 35.6 million in 2019 to 105.9 million in 2020, the number of consumers increased by 85% every year exponentialy.
These customers, however, do not casually scroll through the one-minute flicks. 45% of respondents use TikTok to purchase things, comparable to 32% for Instagram and 9% respectively on Facebook celeb feeds.
TikTok marketing’s popularity is wonderful news for marketers looking to capitalise on influencer campaigns, especially given the platform’s strong engagement rates among high-profile users. Small TikTokers with 15K or less followers have a 17.96% engagement rate, which outperforms Instagram’s 3.86% average.
To work alongside TikTok celebrities, first look at the engagement levels of their typical videos. How does the number of likes on a video compare to the number of viewers on the most current one?
40% of People on twitter bought something after hearing about it from an influencer.
When collaborating with influencers, another channel to keep an eye on is Twitter, especially if your primary purpose is to sell things.
According to Twitter, more than 50% of the its users depend on platform influencer recommendations. Additionally, 45% of people have made purchases as a result of such recommendations.
Partnering with Twitter endorsers is among the easiest techniques to get in touch with well-known accounts in your industry. Have had a celeb repost anything that has previously been posted to your label’s page if funds are tight. Given that they don’t have to put in any work, they’ll probably charge less for retweets.
Fewer companies believe Facebook is the most effective influencer marketing medium.
Since shifting to a pay-to-play model, Facebook has been producing issues for shops. Organic reach (the percentage of followers who view a company’s organic content) has been steadily falling. Approximately 5.% all Page subscribers will currently see updates in their social media feeds.
As a result, it is not surprising that Facebook is one of the few social media platforms experiencing a decline in influencer marketing strategy.
Today, 68% of firms rely on Facebook’s influencer marketing potential, a 13% decrease from the previous year.
Despite its falling popularity, Facebook still ranks first among influencer marketing platforms. Because, despite its deteriorating performance, Facebook remains the world’s largest social network.
Furthermore, ecommerce firms have access to a slew of tools that make it simple to collaborate with others outside of typical postings. For instance, you could:
- Join together with an influencer to broadcast a live stream.
- Pay to increase the reach of an influencer’s Facebook endorsement to other users.
- Create Facebook Stories, which are displayed just at front of such a user’s news feed.
What do influencers cost?
Without a question, each social media outlet offers a plethora of influencers to tap into. But how much should you have on hand when collaborating with an influencer on sponsored posts?
eMarketer discovered the influencer marketing budget you should set aside for each sort of influencer.
Nano influencers charge anything from $31 to $315 every social media post.
When businesses begin to turn to the influencer marketing sector, nano influencers are sometimes brushed aside. They may have fewer followers (up to 5,000), but they have the greatest interaction rates, indicating that their followers are interested in the items or services they promote.
The good news is that nano influencers have the lowest sponsored post rates. Expect to pay the following:
- A $100 Instagram post
- $114 for a video on Instagram
- 43 dollars for an Instagram story
- A Facebook post costs $31.
YouTubers appear to demand the highest fees across the board. According to reports, nano influencers charge $315 every sponsored video.
Micro influencers charge anything from $73 to $318 for social media post.
Micro content creators with 5,000 to 30,000 followers demand a significantly higher fee for each sponsored post. Expect to pay, as a general guideline:
- A post on Instagram costs $172.
- A video on Instagram costs $219.
- A story on Instagram costs $73.
- A Facebook post costs $318.
- A YouTube video costs $908 USD.
If this is the sort of influencer you’re looking to collaborate with, try a sponsored Instagram Story first. It’s the most affordable approach to see whether an influencer’s audience is a good fit for you—especially if the influencer reveals their Story data after the engagement.
Powerful influencers charge anything from $210 to $775 every social networking post.
Content creators with 30,000 to 500,000 followers command greater prices since they have access to a larger pool of prospective clients. They usually make:
- Each Instagram post costs $507 USD.
- $775 for a video on Instagram
- A tale on Instagram costs $210.
- Cost of a Facebook post is $243.
- Cost of a YouTube video is $782.
Celebs demand anything from $2,085 to $3,318 each social media post.
Celebrity influencers, defined as individuals with more than 500,000 followers, receive the most money from sponsored content. eMarketer estimated conservatively:
- A post on Instagram costs $2,085 USD.
- A video on Instagram costs $3,318.
- A story on Instagram costs $721.
- A Facebook post will cost you $2,400.
- A YouTube video is worth $3,857.
However, some famous influencers want even higher fees for sponsored material. According to reports, Dwayne “The Rock” Johnson charges more than $1 million every sponsored post.
Kim Kardashian is said to be demanding $858,000.
If you choose this method, keep in mind that you may need to go via an influencer’s management team to secure a sponsorship. In most cases, their bio indicates who to contact for sponsored content possibilities.
The Return on Investment of Influencer Marketing
Influencer marketing strategies may be effective for companies of all sizes. Nano influencers are a good choice for little budgets, but if you have money to spend on celebrity endorsements, you’ll be able to reach out to large new audiences.
Will you, however, see a return on your investment? And what type of outcomes might you anticipate?
When it comes to the ROI of influencer marketing, there are a few figures to keep in mind. When developing your marketing strategy, you should pay special attention to channel-specific Return.
The ROI of influencer marketing is 11 times that of banner advertisements.
Given how many social media users follow influencers, it’s no wonder that companies benefit more from working with influencers than from traditional types of advertising. According to Mediakix research, the ROI of influencer marketing is 11x higher than that of other methods of digital marketing, such as banner advertisements.
In terms of ROI, online advertising continues to lead the way, closely followed by Instagram and YouTube, with 18% of marketers stating the social media platforms are extremely successful.
That’s why 60% believe influencer marketing outperforms traditional advertising in terms of ROI.
Given how many social media users follow influencers, it’s no wonder that companies benefit more from working with influencers than from traditional types of advertising.
In terms of ROI, online advertising continues to lead the way, closely followed by Instagram and YouTube, with 18% of marketers stating the social media platforms are extremely successful. That’s why 60% believe influencer marketing outperforms traditional advertising in terms of ROI.
For every dollar invested on influencer marketing, businesses earn $5.20.
We know that influencer marketing efforts outperform traditional advertising such as TV commercials in terms of ROI. But how much more?
As per reports, businesses earn $5.20 for every dollar spent on Celeb marketing. So, if you spend $4,000 each month on influencer partnerships, you’ll most certainly receive orders worth more than $20,000.
Examine the alternative marketing channels you’re employing to advertise your ecommerce store. Are the outcomes comparable? If not, budgets may need to be reallocated. Take part of your lowest-performing channels’ budget and redirect it to influencer marketing. It will increase your marketing ROI across the board.
For each and every $1 invested on Instagram influencer marketing, brands will receive $4.87 in earned media value.
An influencer marketing campaign’s purpose isn’t necessarily to increase revenue. Collaboration with a high-profile, trustworthy influencer broadens your reach and raises brand recognition. You’re reaching out to more people than ever before, especially on Instagram.
According to HypeAuditor, merchants will receive $4.87 in earned media value for every dollar spent on Instagram celebrity endorsements.
Challenges in Influencer Marketing
As you’ll see, influencer marketing has several benefits. Influencer marketing allows you to expand your reach, create trust, and produce product sales. However, the terrain is shifting, and marketers must be aware of certain new hurdles.
46% of customers now distrust influencers.
Over the last decade, the number of social media influencers has soared. With a few thousand followers, anyone can now generate money on Instagram, and influencing has become a goal job route for 84% of young people.
However, not everything is good in the influencer marketing sector.
In fact, 5 out of 10 customers believe there is too much commercial material on social platforms. This has a knock-on impact on audience: 8 out of 10 consumers would abandon an influencer if they made false recommendations.
The takeaway here is to select influencers who best reflect your brand. Look for influencers who are real and share your ideals. A high number of sponsored posts on their feed might be a warning flag. Pay attention to influencers that have little sponsored material but strong engagement rates.
50% of most marketers are unable to determine whether an endorser has false followers.
The desire for any social media user to become an influencer drives people to perform unethical things. The most dubious: purchasing followers.
According to data, just 59% of Instagram followers are actual people. The other 41% are bots or dormant users.
Detecting false followers and inauthentic interaction is a major challenge for companies that rely on influencer collaborations. Half of marketers are unable to identify fraudulent followers, which is why businesses are requesting improved influencer marketing data and KPIs to allow for greater transparency.
Brands may use tools like Upfluence and Modash to determine whether an influencer has false followers. However, there are numerous obvious signals that an influencer’s audience isn’t genuine:
Their follower-to-follower ratio is rather high. This might imply that they have a significant following solely because they participate in a follow-for-follow scam.
Spam comments abound on their postings. Emojis, odd hashtags, or “great post” comments from bot accounts suggest that the influencer is most likely not real.
They have a low rate of involvement.
Something is wrong if a potential influencer has 1 million followers but only 1,000 likes on their normal posta potential influencer has 1 million followers but only 3,000 likes on their normal post, something is wrong. (This is most likely due to the fact that they have paid for followers.)
Massive, abrupt increases in followers. For celebrities, gaining 100,000 followers overnight may be typical. Nano influencers, on the other hand, are a different story. To observe how an influencer’s follower count has grown over time, use one of the methods indicated above. A moderate, consistent growth implies that they did not buy false followers.
55% of businesses are concerned about social algorithm updates.
Social media networks are increasingly becoming a pay-to-play paradigm. Organic reach is declining, not only for companies but also for influencers. Keeping up with algorithm adjustments is a challenge for almost 50% of influencer marketers.
No advertising budget?
Don’t be concerned. Work around changes in social algorithm by using alternate content formats. If you’re collaborating with an Instagram influencer, don’t just agree on one feed post.
Increase the reach of your sponsored content by asking the influencer to repost it on their Instagram Story, repurpose it into a Reel, or repost it on your own page.
Every one of these strategies increases the reach of your influencer marketing initiatives, ensuring that more people see the paid-for sponsored content.
Of course, you can always seek marketing financing to supplement your ad budget, but it’s helpful to know that you may broaden your reach through organic rather than sponsored means.
Influencer marketing beyond 2022
Over the last few years, the condition of the influencer marketing sector has changed considerably. Here’s how the industry is expected to change in 2022 and beyond.
In the coming year, 73% of marketers want to boost their influencer marketing expenditure.
The importance of influencer marketing cannot be overstated, and merchants are becoming increasingly aware of it. It is anticipated that 73% of marketers would boost their influencer marketing spending in the next year by 2022. Only 5.75% aim to reduce it.
Influencer marketing will cost firms $4.5 billion per year by 2023.
Because of the increase in influencer marketing expenses, firms will spend an estimated $4.5 billion annually on influencer marketing. This represents a 25% increase between 2022 and 2023.
Set your influencer marketing budget at 15% of all anticipated marketing expenditures if you are unclear of the size of the piece you want to take from that pie. This allows you to experiment with multiple channels, formats, and influencers without taking too many risks.
93% of Marketers have used Influencer Marketing
93% of marketers reported using influencer marketing as part of their overall marketing plan, demonstrating how widespread it is at the moment. 7% of the marketers have yet to experience this strategy.
FAQs about influencer marketing statistics
What is one of the most difficult aspects of influencer marketing?
According to a recent poll of firms that conduct influencer marketing initiatives in-house, the largest problem marketers have is knowing how to monitor the ROI and outcomes of their programs. It is a source of concern for a total of 30% of them.
Which type of celebrity endorsements is the most efficient?
Instagram is the preferred network for influencer marketing initiatives, with 85% of firms citing it as their most significant channel.
Is there a drop in influencer marketing?
Influencer marketing is becoming increasingly popular. The influencer marketing business was valued almost $14.5 billion in 2021 and is expected to increase to nearly $18 billion in 2022 and exponentially so on.
What effect do influencers have on sales?
Whenever influencers promote a company that they enjoy, their followers are more inclined to buy the items or services. Successful influencers can receive a revenue share from the products they promote as affiliates, but not all affiliates have that level of confidence with their audience, thus they cannot operate as influencers.
Does Influencer Marketing generate sales?
Influencer marketing can give up to $4.87 return on every dollar spent on Influencer marketing.
Understanding these information can also allow you to make more educated marketing decisions, such as which influencers to work with, which channels to prioritise, and what type of return you can anticipate.
The most essential conclusion is that influencer marketing is available to all companies, not just those with large expenditures. With these data in mind, you’ll be in a better position to design a successful influencer campaign for your company.