Influencer marketing has grown in popularity due to the expansion of social media. It is a multi-billion dollar industry now. Influencers have a strong online presence and utilize it to sway the attitudes and actions of their followers. Because millions of people trust influencers, many companies pay them to reach a wider audience.
You may ask yourself, does influencer marketing really work?
Well, to answer that, we are writing this post today. It will help you understand the facts and figures of Influencer Marketing.
If you’re a business that is looking to launch an influencer campaign or become an influencer yourself, this post is for you. Let us take you through the world of influencer marketing through up-to-date and unique stats.
Before we start, here is how the classification of Influencers is done based on their follower count:
|Influencer Type||Follower Count|
|Nano influencers||1k – 5k|
|Micro-influencers||5k – 20k|
|Power or mid-tier||20k – 100k|
|Mega influencers||100k – 1M|
Influencer Marketing Statistics 2023 (Top Picks)
- Currently, the Influencer Marketing industry is worth $13.8 Billion.
- For each $1 invested on influencer marketing efforts, businesses gain $6.50.
- Influencer marketing has surpassed print advertising in effectiveness.
- As Small influencers like Micro-Influencers are less expensive than celebrities, Around 56% of US & UK marketers utilize Instagram to collaborate with them.
- Micro-influencers are used 10 times more by brands than mega-influencers.
- Instagram is the most preferred social media for Influencer marketing campaigns.
- Instagram Posts are preferred by 89% of marketers over other content forms.
- The global spend on influencer marketing is projected to climb in 2023 as the ROI becomes higher.
- By 2024, brands will have spent up to $15 billion on influencer marketing.
Influencer Marketing Statistics 2023
Here we have listed all the Influencer marketing Statistics.
1. Influencer Marketing Industry is worth $13.8 Billion.
As of 2023, the influencer marketing industry is valued at 13.8 Billion US Dollars.
The numbers have grown significantly since 2016, when the industry was worth $1.7 Billion.
The boom in social media usage and the power of smartphones has led to this growth in Influencer Marketing rise.
2. Influencer Marketing will hit $16.2 Billion in 2023.
The Influencer marketing Industry is reaching new heights every year. Many experts project that the Industry will reach 16.2 Billion US Dollars in 2023.
3. Influencer Marketing is Used by 93% of Marketers.
Over half of them use influencer marketing on a daily basis, 25% use it often, and a 1/3 have a long-term influencer marketing plan.
4. 89% of Marketers think Instagram is the Best Platform for Influencer Marketing.
It is no wonder as the facts speak for themselves.
Instagram recently crossed the 2 billion Monthly Active User mark and is the second most popular social media globally just behind Facebook with 2.5 Billion monthly active users.
- In 2020 alone Instagram was used in 96% of all influencer marketing efforts.
- Instagram Posts are preferred by 78% of marketers over other content forms.
5. 86% of Women Turn to Social Media for Buying Advice.
- 45% of women say they’ve gotten more active on social media in the last two years, particularly on Instagram and Facebook.
- Furthermore, in the United States, women are 53.7% more likely than males to use Instagram.
- One study also shows that more than 50% of women have made purchases as a result of what they saw on social media.
- This Stat shows that businesses that lack catering to female audiences should start doing it.
6. 7 in 10 Teens Trust Influencers More than Celebrities.
- Because of this fact, businesses have increased their influencer marketing budgets.
- four out of ten Millennial followers believe their favorite influencer knows them better than their peers.
7. 57% of Fashion and Beauty Brands Employ Influencer Marketing.
- Aside from those 57 percent. 21% want to include influencer marketing into their marketing strategy in the future.
8. TikTok has Established a $1 Billion Creator Fund to help Influencers Flourish.
The TikTok Creator Fund debuted last year in spring with a massive $200 million initial investment and a goal of $1 billion in the following three years.
9. A whopping 49% of Twitteratis have Made a Purchase as a Consequence of a Tweet.
One more interesting figure is that Advertising accounts for 86 percent of Twitter’s revenue.
10. For each $1 spent on an Influencer Marketing Campaign, Marketers Earn $6.50.
Some marketers even see as much as $18 earning for each $1 spent.
66% of marketers expect to boost their influencer marketing expenses, as this sector of marketing is quickly overtaking organic search, sponsored search, and email marketing as the fastest-growing channel for businesses.
Statistics like this one show how influencers affect their followers’ purchasing decisions.
11. According to 51% of Marketers, Influencer Marketing helps Them Get more Clients.
Influencer content has an 11X better return on investment than standard digital marketing approaches.
12. Influencer Marketing is the Quickest Method of Acquiring new Customers Online.
Influencer marketing is the fastest-growing online client acquisition method, according to 28% of businesses.
Affiliate marketing was identified as the fastest-growing channel by only 3% of the organizations polled.
13. The Term ‘Influencer Marketing’ has a Global Search Volume of 72 Thousand.
As of December 2022, The global search volume for the term ‘Influencer Marketing’ is 72 thousand. The United States and India have the largest share of searches, with 11 and 14k, respectively.
Google trends gave the term a score of 99 in December 2022 on a scale of 100.
14. 46% of Users Globally use Adblockers. This is Where Influencer Marketing Come In To Play.
Now you may say how this stat is relevant to influencer marketing. Let us explain.
As more people are blocking traditional ads from their online experiences, Influencers are filling that gap with their promotions. Netizens are not blocking content from their favourite influencer.
The power of advertising is moving from corporations to individuals and influencers.
15. Influencer Marketing Campaigns Can Cost Anywhere Between $1k to $500k.
The report by bigcommerce shows that 19% of marketers anticipate to spend $1k to $10k on an average, followed by 18% who expect to spend $100k to $500k.
16. 75% of Influencers want to Collaborate with Businesses that Share their Values.
75% of influencers want to collaborate with businesses who share their beliefs.
This makes sense, because any creator who starts promoting off-brand items risks losing their following.
17. E-commerce Stores are Managed by 51% of Companies that work with Influencers.
Half of the brands that promote their products through influencer marketing also have online presence in the form of E Commerce stores.
18. 76% of Marketers are More Interested in Collaborating with Micro-Influencers than Celebrities.
Smaller influencers have a greater rate of engagement and are plentiful.
As a result, it’s no wonder that companies prefer to collaborate with micro-influencers over traditional superstars.
micro-influencers came next with 64% of marketers’ choice.
19. 49% of Marketers are Worried About the Ever-Changing Social Media Algorithms.
Social media networks are increasingly becoming a pay-to-play business.
Not only for marketers but also for influencers, organic reach is dwindling.
Almost 50% of influencer advertisers find it difficult to keep up with constant algorithm updates.
20. 50% of Marketers are unable to Determine Whether or not an Influencer has fake followers.
According to statistics, only 55% of Instagram users are actual humans.
Bots or inactive users account for the remaining 45%. Many influencers use dubious tactics to gain followers by purchasing them.
21. How Much do Influencers Charge in 2023
Below are various tables showing the fees of different types of influencers.
- Nano Influencers
- Micro Influencers
- Power Influencers
22. Most Popular Social Media for Influencer Marketing In 2023
A Hubspot survey revealed some key statistics about social media and influencer marketing. Here are the findings.
- 25% of responders chose Facebook, 20% chose YouTube, 16% chose Twitter, and 15% chose Instagram. When asked about their favorite social media as of 2023.
- 52% of marketers want to invest more in is TikTok in 2023.
- 26% of marketers are pushing short video platforms such as tik tok and Instagram reels the most in 2023.
- 46% of marketers claimed they had the best return on investment (ROI) through TikTok when compared to other channels like Twitter and YouTube in 2022, and they hope to see the same growth in 2023.
- 83% Marketers intend to raise their spending on YouTube shorts in 2023.
- More than 60% of marketers said Short-form videos are the most efficient & deliver the best ROI.
- 44% of marketers want to use audio-based social media features such as twitter spaces, reddit chat rooms, etc. in 2023.
The essential point is that in 2023, audio and short-form video features will play a far larger part in marketers’ strategy than they have previously. If you are a marketer and want to get the most exposure for your product, target these features and generate the highest ROI in 2023.
23. Which Social Media is Losing its Charm for Influencer Marketing
Clubhouse debuted a couple of years ago and soon gained traction thanks to its unique live audio idea and the pandemic. The platform now appears to have lost its competitive advantage as other social networks develop their own live audio offerings.
- Moving into 2023, 15% of marketers want to reduce their clubhouse spending.
Snapchat is another channel that advertisers are abandoning
- 20% of advertisers want to cut back on their Snapchat marketing spending in 2023.
- According to the report, Snapchat has one of the lowest Return On Investments, trailing only Pinterest & Twitch.
24. 63% of Marketers Plan to Boost their Influencer Marketing Spending in 2023
72.5% of marketers aim to boost their influencer marketing expenses in 2023. Only 5% of people want to lower it.
25. Marketers will Spend $4.62 Billion Every Year on Influencer Marketing In 2023
Marketers will spend an average $4.62 billion every year on influencer marketing between 2021 and 2024, this represents a 25% rise.
Conclusion: Influencer Marketing Stats (2023)
Influencer marketing as a prominent digital marketing tactic in 2023 has a lot of potential. It is more crucial than ever for organizations to develop innovative methods to engage with their customers as traditional marketing strategies lose their impact. Our up-to-date Influencer marketing statistics will help you make an informed decision and a well-thought strategy for your upcoming venture.
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a person who has a good following on social platforms is an influencer. It can be anyone like a movie star, singer, artist, spiritual guru, podcaster. The basic is that the person is able to influence people by his actions and talks.
In influencer marketing, brands pay influencers to promote their products to the audience. The influencers may earn through sales or just by talking about the product to the audience.
Well, influencer marketing is totally worth it if influencers maintain a good follower base. It need not be huge, it needs to be loyal!
It is better in the sense that people follow a certain influencer to get influenced by them, so if they are recommending anything, the followers are going to give that thing a try most of the times, in paid advertisements, people skip the paid ads section most of the times. Moreover, People can use ad blockers for paid ads, it is not possible to do that with influencers.