GITNUX MARKETDATA REPORT 2024

Influencer Marketing Statistics [Fresh Research]

Highlights: Influencer Marketing Statistics

  • A study shows that 28% of Gen Z are influenced by social media influencers.
  • 97% of marketers consider Instagram the most important channel, with Facebook holding 79%, YouTube 45% and Twitter 35%.
  • 93% of marketers say they have used influencer marketing as part of their strategy, which means this trend is increasing.
  • It is also stated that TikTok holds the highest engagement rate compared to other social media platforms.
  • Social media gives normal people an opportunity to build their own brand through stimulating content and engagement.
  • 49% of consumers depend on influencer recommendations after seeing them on Twitter, Youtube or Instagram.
  • The global influencer marketing market size has more than doubled since 2019. In 2022, the market was valued at a record 16.4 billion USD.
  • A staggering 85% of marketers say that engagement is their primary key performance indicator (KPI) for influencer marketing.
  • The influencer marketing industry hit 16.4 billion USD in 2022.
  • Almost 3.17% of companies spend half of their marketing budget on influencer marketing.
  • Brands believe that micro-influencers have higher benefits over macro-influencers.
  • Instagram has become influencer marketers’ favorite platform.
  • 90% of marketers believe influencer marketing to be an effective form of marketing.
  • As a result, influencers are expected to take on increasingly important roles as intermediaries between brands and consumers.
  • 74% of consumers say they trust the opinions they see on social media, including influencers, when deciding whether to purchase a product.
  • The engagement rate of an influencer is very important in order to have a successful campaign.
  • Influencer space is very saturated, at some point, the audience may be disengaged or less engaged than before.
  • In contrast, the amount spent in the month of February was 378 million USD.
  • Humor, fun and happiness was the second-most popular topic, with a 579% average annual growth of followers.
  • At the same time, the jewelry and watches-focused accounts saw their follower numbers decline by 36%.
  • Driving sales was a target for 26% of respondents.
  • Driving sales was a goal for 66% of marketers, whereas reaching new target audiences was named by 51% of responding brands.

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Influencer marketing statistics are very insightful to look into as it is one of the most powerful marketing strategies available today. It has the potential to reach a huge audience, build trust and loyalty, and drive sales. With the right influencers, businesses can tap into a powerful network of people who are passionate about their brand and products. 

Influencer marketing is a relationship between a brand and an influencer. They promote the brand’s products/services through various media outlets such as Instagram and YouTube. They work independently, creating their own content and choosing how they portray it. With the creation of the internet and the popularity of social media platforms, consumers have unlimited freedom and choice to view the content they want.

But how effective is influencer marketing? To answer this question, we need to look at the statistics. In this blog post, we will explore the latest influencer marketing statistics and trends to help you understand the impact of this powerful marketing strategy.

Influencer Marketing: The Most Important Statistics

A study shows that 28% of Gen Z are influenced by social media influencers. 
 97% of marketers consider Instagram the most important channel, with Facebook holding 79%, YouTube 45% and Twitter 35%. 
93% of marketers say they have used influencer marketing as part of their strategy, which means this trend is increasing.

Influencer Marketing Statistics

A study shows that 28% of Gen Z are influenced by social media influencers. 

Additionally, studies show that there are higher rates of women working in the influencer marketing industry; roughly 84% are women, compared to 16% men.

 97% of marketers consider Instagram the most important channel, with Facebook holding 79%, Youtube 45% and Twitter 35%. 

It is also stated that TikTok holds the highest engagement rate compared to other social media platforms.

48% ran influencer campaigns with interest in using influencers on TikTok rising 325% in just one year. 

Social media gives normal people an opportunity to build their own brand through stimulating content and engagement. 

70% of teens trust influencers more than traditional celebrities.

49% of consumers depend on influencer recommendations after seeing them on Twitter, Youtube or Instagram. 

51% of Influencer marketers say influencer marketing helps brands acquire better customers.

The global influencer marketing market size has more than doubled since 2019. In 2022, the market was valued at a record 16.4 billion USD.

Influencer marketing-related companies grew by 26% in 2021 to 18,900 worldwide.

A staggering 85% of marketers say that engagement is their primary key performance indicator (KPI) for influencer marketing.

Influencer Marketing Trends 

Research shows that influencer marketing is the emerging trend for marketing in 2022, even though they hold 30% as part of the top marketing channels in which social media holds 44%.

Close to 75% of marketers say they’ve used influencer marketing at least once as a part of their strategy. More than a third (36%) use influencer marketing regularly. That’s down by almost 20% compared to 2019’s data.

Nearly 60% of marketers launch influencer marketing campaigns to increase brand awareness.

The influencer marketing industry hit 16.4 billion USD in 2022. 

101 influencer marketing statistics demonstrate that creators set the tone for brand sentiment on social media and the data also demonstrates that social media is a marketplace where digital word-of-mouth can “make or break” brands in the 21st Century.

Almost 3.17% of companies spend half of their marketing budget on influencer marketing.

93% of marketers say they have used influencer marketing as part of their strategy, which means this trend is increasing.

Only 39% of marketers planned to grow their influencer marketing budget, suggesting that brand investment in influencer marketing will increase dramatically this year.

How Influencer Marketing Affected Social Media

Micro-influencers have increased from 2016 to 2019. 

Brands believe that micro-influencers have higher benefits over macro-influencers.

Almost half (47.3%) of influencers are micro-influencers with 5,000—20,000 followers on their biggest social media platform. That’s shortly followed by mid-tier influencers (26.8%) and nano influencers (18.74%).

Instagram has become influencer marketers’ favorite platform. 

In 2020, nearly 90% of influencer campaigns target Instagram in their marketing mix.

90% of marketers believe influencer marketing to be an effective form of marketing. 

Knowing that social media usage worldwide is showing no signs of slowing as it permeates all aspects of consumers’ daily lives.

As a result, influencers are expected to take on increasingly important roles as intermediaries between brands and consumers. 

Statistics show that Instagram is used by most influencers as their platform, holding 93%.

74% of consumers say they trust the opinions they see on social media, including influencers, when deciding whether to purchase a product. 

Over 71% of marketers believe that working with influencers positively impacts their business, and 86% of marketers have used influencer marketing in the past year. 

The engagement rate of an influencer is very important in order to have a successful campaign. 

The challenge may include high costs, depending on influencers.

Influencer space is very saturated, at some point, the audience may be disengaged or less engaged than before.

71% of marketers feel that influencer marketing is more effective at driving quality traffic and leads. 

How Important is Instagram to Influencer Marketing?

A recent study was conducted on Instagram influencer marketing. It revealed that in the first quarter of 2020, influencer marketing spending reached 400 million USD. 

In comparison, in March 2019, influencer marketing spending was higher by 16 million USD. 

The differences were even larger when looking at February spending in both years, indicating that influencer marketing started bouncing back quite quickly after the coronavirus hit initially.

In 2019, a study was conducted on Instagram influencer marketing. According to the findings, in October 2019, Instagram influencer marketing peaked with a total of 493 million USD in spending that month. 

In contrast, the amount spent in the month of February was 378 million USD.

In 2020, the most popular influencer-curated topic on Instagram worldwide was music. Based on the average annual growth of followers on Instagram influencer accounts with music-related content. 

Humor, fun and happiness was the second-most popular topic, with a 579% average annual growth of followers. 

At the same time, the travel-focused accounts grew their follower numbers by 137%.

As of March 2020, the most unpopular influencer-curated topic on Instagram worldwide was vape, based on the average daily decrease of followers on Instagram influencer accounts with vaping-related content. 

Hotels are the second-most unpopular topic, with 74% average daily decrease in followers. 

At the same time, the jewelry and watches-focused accounts saw their follower numbers decline by 36%.

What Are the Goals of Influencer Marketing?

During a December 2020 survey carried out among U.S. advertisers, who used influencer marketing in the 12 months leading up to the survey, 35% stated that reaching or discovering new target customers was one of the goals they were pursuing with their influencer marketing activities. 

Driving sales was a target for 26% of respondents.

During a 2021 survey, 85% of responding business-to-consumer (B2C) brands from Europe said the main target of their influencer marketing activities was to raise brand awareness.

Driving sales was a goal for 66% of marketers, whereas reaching new target audiences was named by 51% of responding brands.

Influencer marketing will surpass 4 billion USD in spending this year, up 12% from last year. 

Companies are doubling down on this segment because the audience’s time spent on social platforms continues to rise, but the effectiveness of paid ads has decreased. 

4 strategies: refocus your energy on the creator; pay for actual results, not for posts or partnerships; give creative control back to the creators; build targeted,audience-first influencer marketing strategy.

Conclusion

Influencer marketing is an effective way to reach a large audience and build a strong brand presence. With the right influencers, businesses can create a powerful and lasting impact on their target market. The statistics show that influencer marketing is growing in popularity, and the results are clear: it works. With the right strategy and influencers, businesses can reach more people, increase their brand awareness, and generate more leads and sales.

FAQs

What is influencer marketing?

Influencer marketing is a type of marketing that involves engaging and collaborating with influencers, or people who have a large following on social media, to promote a product or service.

How does influencer marketing work?

 Influencer marketing works by having influencers promote a product or service to their followers. This can be done through sponsored posts, product reviews, or other types of content.

What are the benefits of influencer marketing?

The benefits of influencer marketing include increased brand awareness, improved engagement, and increased sales.

How do I find influencers to work with?

You can find influencers to work with by searching for people with a large following on social media, using influencer marketing platforms, or reaching out to influencers directly.

How do I measure the success of an influencer marketing campaign?

You can measure the success of an influencer marketing campaign by tracking metrics such as engagement, website traffic, and sales.

References:

Grin: “101 Vitally Important Influencer Marketing Statistics You Need to Know Today”, cited in February 2023 (Source)

The Social Shepherd: “28 Essential Influencer Marketing Statistics You Need to Know in 2022”, cited in February 2023 (Source)

Influencer Marketing Hub: “Key Influencer Marketing Statistics You Need to Know for 2022”, cited in February 2023 (Source)

HubSpot: “Top Marketing Channels in 2022”, cited in February 2023 (Source)

Shopify: “30+ Influencer Marketing Statistics You Need To Know (2022)”, cited in February 2023 (Source)

Digital Marketing Institute: “20 Surprising Influencer Marketing Statistics”, cited in February 2023 (Source)

Startup Bonsai: “29+ Significant Influencer Marketing Statistics (2022)”, cited in February 2023 (Source)

Oberlo: “10 Influencer Marketing Statistics You Need To Know In 2022”, cited in February 2023 (Source)

Forbes: “The Pros And Cons Of Influencer Marketing For Your Brand”, cited in February 2023 (Source)

Shane Barker: “The Pros and Cons of Influencer Marketing: An Honest Look”, cited in February 2023 (Source)

Forbes: “Understanding Influencer Marketing And Why It Is So Effective”, cited in February 2023 (Source)

Big Commerce: “The State of Influencer Marketing: 10 Influencer Marketing Statistics to Inform Where You Invest”, cited in February 2023 (Source)

Statista: “Monthly spending on IG influencer marketing worldwide 2019”, cited in February 2023 (Source)

Statista: “Global influencer marketing spending on IG impacted by COVID-19 Q1 2019 – Q1 2020”, cited in February 2023 (Source)

Statista: “Unpopular Instagram influencer topics worldwide 2020, by daily follower decrease”, cited in February 2023 (Source)

Statista: “Goals of influencer marketing in the U.S. 2021”, cited in February 2023 (Source)

Statista: “Leading goals of B2C influencer marketing in Europe 2021”, cited in February 2023 (Source)

Oberlo: “Influencer Marketing Market Size (2016–2022)”, cited in February 2023 (Source)

Humanz: “Every Brand’s Guide To Influencer Marketing Statistics”, cited in February 2023 (Source)

P2P Marketing: “B2B Influencer Marketing: Statistics and The Future of All Of This [2023 Reflection]”, cited in February 2023 (Source)

Media Update: “Influencer marketing in South Africa: The stats you need to know”, cited in February 2023 (Source)

Statista: “Influencer marketing market size worldwide from 2016 to 2022”, cited in February 2023 (Source)

ZipDo, cited June 2023: Influencer Marketing Statistics

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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