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According to Influencer Marketing Statistics, Influencer marketing is a relationship or collaboration between a brand and an influencer. They promote the brand’s products and services via various social media platforms such as Instagram, Facebook, YouTube, etc.
However, influencer marketing is not celebrity endorsements. It does more than connect a celebrity to a brand. Influencers need to have a trusted following to be trusted within a community. It is also necessary that they should have knowledge and experience in the field they are advertising.
Editor’s Choice
- Influencer marketing is expected to become a $16.4 billion industry by 2022.
- 92% of consumers trust recommendations from influencers more than traditional advertisements or celebrity endorsements.
- Instagram is the most popular platform for influencer marketing, with 89% of marketers using it for their campaigns.
- The average return on investment (ROI) for influencer marketing is $5.78 for every $1 spent.
- Micro-influencers, who have between 1,000 and 100,000 followers, have the highest engagement rates, with an average engagement rate of 7.2% compared to 2.4% for macro-influencers.
- 57% of marketers plan to increase their influencer marketing budgets in the next year.
- Authenticity is a crucial factor for successful influencer marketing campaigns, with 92% of consumers saying they would consider following a brand that the influencer they follow recommends.
Top 10 Instagram Influencers as of July 2023
- Cristiano Ronaldo (@cristiano) – With 595 million followers, Cristiano Ronaldo is a footballer from Portugal.
- Lionel Messi (@leomessi) – Lionel Messi, an Argentine footballer, has 477 million followers.
- Selena Gomez (@selenagomez) – Selena Gomez, a singer, and actress from the United States, has 425 million followers.
- Kylie Jenner (@kyliejenner) – Kylie Jenner, a reality TV star and businesswoman from the United States, has 397 million followers.
- Dwayne “The Rock” Johnson (@therock) – Dwayne Johnson, also known as “The Rock,” is an actor, producer, and retired wrestler from the United States. He has 386 million followers.
- Ariana Grande (@arianagrande) – Ariana Grande, a singer, and actress from the United States, has 376 million followers.
- Kim Kardashian West (@kimkardashian) – Kim Kardashian West, a reality TV star and businesswoman from the United States, has 362 million followers.
- Beyoncé (@beyonce) – Beyoncé, a singer, actress, and businesswoman from the United States, has 314 million followers.
- Khloé Kardashian (@khloekardashian) – Khloé Kardashian, a reality TV star and businesswoman from the United States, has 310 million followers.
- Justin Bieber (@justinbieber) – Justin Bieber, a singer, and songwriter, has 293 million followers.
Growth and Size of the Influencer Marketing Industry
- Digital Marketing Market sales are anticipated to surge to USD 1,118.9 billion by 2032.
- The global influencer marketing market value stood at 16.4 billion U.S. dollars as of 2022, having more than doubled since 2019.
- In 2020, 74% of marketers reported using influencer marketing as a key part of their overall marketing strategy.
- Instagram is the most popular platform for marketing, with 89% of marketers considering it the most important platform for their campaigns.
- Influencer marketing budgets are on the rise, with 63% of marketers planning to increase their marketing budgets in the next year.
- The average return on investment (ROI) for influencer marketing is $5.78 for every $1 spent.
- Micro-influencers, who have between 10,000 and 100,000 followers, deliver higher engagement rates than macro-influencers with larger followings.
- 57% of consumers have made a purchase based on an influencer’s recommendation.
- The influencer marketing industry is expected to grow at a compound annual growth rate (CAGR) of 32.4% from 2021 to 2026.
Global Influencer Industry Market Size 2016-2022
Influencer Marketing Trends
- 86% of consumers believe that authenticity is an important factor when deciding which influencers to follow.
- 71% of consumers are more likely to make a purchase based on a social media recommendation from an authentic influencer.
- 69% of marketers consider long-term influencer relationships to be the most effective strategy.
- 46% of marketers plan to increase their long-term influencer partnerships in the future.
- 63% of marketers increased their influencer marketing budgets in 2021.
- The average ROI of influencer marketing is $5.78 for every $1 spent.
- Fake followers account for an average of 15% of an influencer’s total following.
- The influencer fraud industry is estimated to cost businesses $1.3 billion in 2023.
Social Media Platforms and Influencers
- Instagram has over 1 billion monthly active users.
- 71% of Instagram users are under the age of 35.
- Influencer marketing on Instagram is a $2 billion industry.
- 130 million Instagram users tap on shopping posts every month.
- Instagram influencer marketing generates a higher engagement rate compared to other platforms.
- 68% of Instagram users come to the platform to interact with creators.
- 83% of Instagram users discover new products or services on the platform.
- Instagram Stories have over 500 million daily active users.
YouTube
- YouTube has over 2 billion monthly active users.
- 81% of 15–to 25-year-olds in the United States use YouTube.
- Over 1 billion hours of video are watched on YouTube every day.
- YouTube is the second most-visited site after Google.
- 62% of businesses use YouTube for influencer marketing.
- 70% of YouTube viewers say they bought a product based on a creator’s recommendation.
- The number of YouTube channels earning six figures per year has increased by 40% year over year.
- 90% of YouTube users say they discover new brands and products on the platform.
TikTok
- TikTok has over 1 billion monthly active users.
- The average TikTok user spends about 52 minutes per day on the app.
- TikTok was the most downloaded app globally in 2020.
- 89% of TikTok users say they discover new content on the platform.
- TikTok’s engagement rate is higher compared to other social media platforms.
- 68% of TikTok users have made a purchase based on a creator’s recommendation.
- The TikTok app has been downloaded over 3 billion times globally.
- TikTok has an average engagement rate of 17.63%, outperforming other platforms.
Influencer Marketing in Fashion and Beauty
- 71% of marketers believe that the quality of customers acquired through marketing in the fashion and beauty industry is higher compared to other marketing channels.
- 89% of fashion and beauty marketers believe that influencer marketing generates higher ROI compared to traditional marketing strategies.
- Instagram is the most popular platform for fashion and beauty influencer collaborations, with 89% of marketers preferring it over other social media platforms.
- The top fashion and beauty influencers on Instagram charge an average of $2,000 to $25,000 per sponsored post.
- 71% of consumers are more likely to make a purchase based on a social media reference from an influencer.
- Beauty and personal care brands see a 3.6x increase in ROI for every $1 spent on influencer marketing.
- 78% of fashion and beauty marketers consider engagement rate as the most important metric to measure the success of an influencer campaign.
- 62% of fashion and beauty brands plan to increase their marketing budget in the next year.
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