Top 20 Influencer Marketing Statistics you need to know!
Influencer marketing has become an incredibly powerful channel for brands to reach their audiences beyond standard digital marketing channels such as Meta and TikTok. Influencer marketing means brands can find influencers who have a specific audience who are likely to be interested in their brand. Good influencers possess highly engaged and trusted audiences, making conversions more likely. The key to success lies in choosing an influencer who is specific to your brand and whose audience is engaged and likely to be interested in your brand.
Brands can collaborate with influencers in various ways. The most common method involves influencers posting content about the brand's products to their audiences. Influencers typically charge for creating and posting a set number of pieces of content, which can include videos, posts, links within bios, and more.
Brands may also use an influencer's account to run paid content to reach customers outside of their influencer audience, potentially improving engagement compared to running ads from the brand's own account. Additionally, influencers and celebrities have been known to release their own named collections, creating more formal and permanent collaborations between brands and influencers.
There are four primary types of influencers based on their audience size, Nano Influencers: 1-10k followers, Micro-Influencers: 10-100k followers, Macro Influencers: 100k-1 Million followers and Mega Influencers: 1 Million+ followers.
The smaller the audience, the cheaper the fees are likely to be. Brands may leverage a larger number of smaller influencers to achieve a large but highly targeted reach. Larger influencers typically have very high fees for a small number of posts.
Top Influencer Marketing Statistics
Influencer marketing is becoming incredibly popular as a key marketing channel for marketers to leverage within their strategies. In 2023, Hubspot found that 25% of marketers work with influencers to promote products and services, making it more popular than virtual events, webinars, and social commerce.
Consumers are becoming more savvy when it comes to marketing that brands publish. However, consumers often build a large amount of trust in the influencers that they follow—especially if they've followed that individual for a long time. 69% of consumers say they trust the recommendations that influencers make to them, making it a great way for brands to get in front of consumers and be taken seriously.
The global influencer marketing market size has more than doubled since 2019 and in 2023, the market was estimated at a record $21.1 billion. Social media trends are one of the top challenges of influencer marketing. Trends can change daily, and following a trend within a marketing strategy can be very challenging as it means that you need to create content as quickly as possible, otherwise, you risk missing the trend altogether.
Influencer-generated posts consistently outperform branded posts, according to 60% of marketers.
It makes sense considering customers tend to trust influencers' recommendations when an influencer has built a community of followers and curated the content to be relevant and appropriate to the audience. This creates a great opportunity to leverage a direct path to engaged customers. Customers become immune to overly branded content, which is why influencer content outperforms branded content.
Instagram Statistics
The brand value of Instagram amounted to $47.4 billion in 2023. A year earlier, the value stood at $33.48 billion. Instagram was the sixth most valuable media brand worldwide in 2023. This platform is a great platform to consider when looking for influencers with a large and engaged following.
India has the most Instagram users in the world. As of January 2023, India had a total of 229 million Instagram users, the largest Instagram audience in the world. The United States had 143 million users, and Brazil had 113 million. Indonesia, Turkey, and Japan ranked in fourth, fifth, and sixth position, respectively. Brunei is the leading country for Instagram audience reach, with 92 percent of the population using the social media service.
On average, Instagram had 4.6 weekly branded posts in 2023. Sports teams added an average of 15.6 posts weekly to the social network, while media brands generated an average of ten posts. Retail brands posted on average 6.8 times per week, and fashion brands posted 6.4 times per week.
The most popular type of influencer focuses on lifestyle on Instagram. According to the findings of a study examining the state of influencer marketing on Instagram, 7.63 percent of influencers on the platform were focused on beauty topics, making it the third most popular category among global Instagram influencers in 2022. Lifestyle was the most popular category covered by Instagram influencers that year, at a 14.32 percent share.
72% of marketers used Instagram for influencer campaigns in 2023. Experts forecast the average time spent on TikTok to rise by 7.3%, to 55.8 minutes, as more people use their devices more and more. This is expected to continue increasing in 2024, growing by 4.7%, to hit 58.4 minutes per day.
There were 3.8 million posts tagged with #ad on Instagram in 2021. This constitutes an increase of roughly 27 percent from the value of three million reported a year earlier.
TikTok Statistics
The value of TikTok to brands was $66 billion in 2023. TikTok/Douyin is one of the most successful Chinese brands that have made its name beyond borders. The short video brand enjoyed immense popularity around the world, surpassing Instagram and WhatsApp to be the most downloaded mobile app in 2022. In 2023, the brand value of TikTok/Douyin amounted to $66 billion U.S. dollars. It was the most valuable unicorn worldwide in 2022 with a market cap of $200 billion U.S. dollars.
Macro-influencer posts receive over 38K views on average. The post of a TikTok mega-influencer with more than one million followers received an average of 329,382 views worldwide in 2022. The post of a macro-influencer with 100,000 to one million followers received an average of 38,517 views.
The average maximum price for a TikTok post was $3,500. The average minimum price per post of TikTok mega-influencers with more than one million followers worldwide was $1,200 in 2022. The average minimum price per post of macro-influencers with 500,000 to one million followers was $150, while the average maximum price was $3,500.
Micro-influencers on TikTok have an engagement rate of 12.4%. TikTok nano-influencers with one to ten thousand followers had the highest engagement rate (ER) compared to other TikTok profiles worldwide in 2022. Nano-influencers had an ER of 15.2 percent, while micro-influencers with 10,000 to 50,000 followers came second with 12.4 percent.
Shein was the most talked-about brand on TikTok in 2022, with 37.5 thousand influencers mentioning it. Target and Sephora followed with 24.1 thousand and 19.3 thousand influencers, respectively.
YouTube Statistics
YouTube is worth more than $29 billion to brands in 2023. In 2023, the brand value of YouTube stood at $29.71 billion U.S. dollars. A year earlier, the value was estimated at $23.89 billion dollars. YouTube is the eighth most valuable media brand worldwide. Brands leverage both paid advertising to play during and before video plays, but also sponsor creators themselves to create and promote products during videos.
People and blogs were the most popular category for YouTube influencers in 2022, with 20.6 percent of them posting videos related to this topic. Entertainment and music followed with respective influencer shares of 16.8 and 13.7 percent.
Engagement rates for YouTube influencers range between 1.9 and 3.4 percent. In 2022, YouTube influencers with between 1,000 and 5,000 followers had an engagement rate amounting to 1.9 percent. The rate for influencers with more than 1,000,000 followers was higher—3.4 percent.
YouTube sponsored influencers cost between $1-16K USD. The average minimum price of a sponsored YouTube video with more than one million views was $2,500 U.S. dollars in 2022. The average minimum price of a sponsored video with 500 thousand to one million views was $1,105 U.S. dollars, while the average maximum price was $16,234 U.S. dollars.
In conclusion, influencer marketing offers a powerful way for brands to reach their audiences effectively. By understanding the various types of influencers and leveraging platforms like Instagram, TikTok, and YouTube, brands can create targeted and engaging campaigns that resonate with their audience.
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