20 Influencer Marketing Statistics for Marketers

Influencer marketing has become a key brand strategy to raise awareness and drive sales. Influencers, as brand advocates, serve as social proof and third-party endorsements that help convince their followers to purchase the promoted products. 

Influencers have established themselves as trusted voices in their respective niches, and brands can leverage their engaged audiences to amplify their message and increase traffic and sales.

Brands must adopt an analytical approach to maximize the impact of influencer marketing campaigns. A data-driven influencer marketing strategy, focusing on metrics like engagement and conversion rates, helps achieve the best possible influencer marketing ROI. 

We’ve compiled 20 of the most essential influencer marketing statistics to help you understand the impact and potential of influencer collaborations. The numbers show audiences’ response to influencers, brands’ influencer spending, and the ROI businesses realized from their investment.

If you want to discover actionable influencer marketing stats that will help you make informed decisions for your marketing campaigns for 2024, read this material!

Influencer Marketing Stats You Need to Know in 2024

Here are some of the critical stats you need to know:

1. Influencer Marketing Spending is Expected to Increase by 20% in 2024

Have you ever wondered how big is the influencer marketing industry? 

From a $21 billion investment projection in 2023, we can expect a 20% increase in 2024’s influencer marketing investment. This significant growth of influencer marketing budgets is a testament to the positive impact influencers have on consumer purchasing decisions. 

2. 56% of Marketers Using Influencer Marketing Work With Micro-influencers

Fifty-six percent of marketers are now collaborating with micro-influencers, and it’s not hard to see why. Influencers with smaller audiences are perceived to be more authentic and able to create more engaging content at lower costs. So you’d be getting the most for the least.

3. Companies Generate $6.5 in Revenue for Every $1 Spent

If you’ve ever asked yourself how effective is influencer marketing? 

Here’s your answer: For every $1 spent on influencer marketing, companies generate $6.5 in revenue. That’s an incredible ROI and why more brands are hopping on the influencer bandwagon.

4. 72% of Gen Z and Millennials Follow Influencers on Social Media

Among Gen Z and Millennials, 72 percent follow influencers on social media for recommendations on what to buy.  This demographic relies heavily on influencer opinions to discover new brands and products that align with their interests. So, consider using effective influencer strategies if your business targets any of these demographics.

5. 93% of Marketers Have Used Influencer Marketing 

Ninety-three percent of marketers have used influencer marketing. This high adoption rate shows how influencer marketing has generated awareness, engagement, and sales for brands effectively. It also shows how proactive today’s marketers are to capitalize on prevailing opportunities. 

6. Micro-influencers Generate Up to 60% More Engagement Than Macro Influencers 

One of the most surprising micro-influencer statistics is that micro-influencers (10k – 100k followers) generate up to 60 percent more engagement than macro or mega influencers. And this is due to their perceived relatability and authenticity with their smaller, niche audiences. Partnering with these influencers is primarily beneficial for niche brands in terms of cost and conversion.

TikTok Influencer Marketing

Here are a few TikTok influencer data to consider:

7. 45% of Marketers Use TikTok for Influencer Marketing Campaigns

As one of the fastest-growing social media platforms, TikTok has captivated the attention of both marketers and consumers alike. With its short-form video format and creative features, TikTok is the real deal for 45 percent of marketers who use the platform for influencer marketing campaigns.

8. 78% of TikTok Users Purchased a Product After Seeing it Featured TikTok Creator Content

TikTok’s short-form video format has proven highly effective, with 78 percent of TikTok users purchasing a product after seeing it in TikTok creator content. Marketers must develop a strong TikTok strategy in 2024, working with top creators and micro-influencers to create impactful campaigns.

9. TikTok Influencer Marketing Spending is Expected to Reach Over $1 Billion in 2024

TikTok influencer marketing will continue to grow rapidly, with spending expected to surpass $1 billion. This growth is driven by TikTok’s large base of a billion users, many of whom are young and highly engaged. Marketers are ready to pour in more money on campaigns in 2024.

10. 81% of TikTokok Users Who Made a Back to School Purchase Said the Platform Played a Role in Their Purchases

Statistics reveal that 81 percent of TikTok users who made a Back to School purchase acknowledged that the platform played a significant role in their buying decisions. This data proves that TikTok is the best platform to run back-to-school marketing campaigns.

Instagram Influencer Marketing Statistics

Here are some of the latest Instagram influencer stats:

11. Instagram is the Most-used Influencer Marketing Platform in the United States 

Instagram remains the most-used influencer marketing platform in the United States. Instagram relies heavily on visual appeal. To thrive on this platform, you must enrich your marketing with stunning photos or videos of your product and services. 

12. Lifestyle and Beauty are The Most Popular Categories Among Global Instagram Influencers

Lifestyle and beauty categories attract a vast following of dedicated people seeking inspiration and recommendations. Hence, a majority of Instagram influencers focus on these niches. They are a perfect fit for cosmetics, skincare, fashion, travel, and wellness companies looking to promote their offerings

13. There are over 500,000 influencers on Instagram

With over 500,000 active influencers on the platform, there is a vast pool of talent that provides brands with a diverse range of options when selecting influencers to collaborate with.

14. 84% of Instagram Influencers Worldwide are Women

Interestingly, the world of Instagram influencers is predominantly female, with 84 percent of Instagram influencers worldwide being women. Working with these influencers can be especially beneficial in offerings related to women’s issues, body positivity, and empowerment.

Facebook Influencer Marketing Statistics

Here are some of the latest stats on Facebook influencer marketing:

15. 84% of Facebook Users Will Purchase or Recommend a Product Based on Influencer Content

Eighty-four percent of Facebook users are willing to purchase or recommend a product based on influencer content. It is once again evident that influencers have a significant impact on consumer behavior. 

16. Pairing Branded Content Ads With Influencer Marketing Campaigns Increases Conversions by 80 Percent 

Brands are finding innovative ways to maximize their reach and conversions. One such strategy is the combination of branded content ads with Facebook influencer marketing campaigns. Recent data reveals that this pairing can lead to an impressive 80 percent increase in conversion. 

17. More Than 3 Million Brands Actively Advertise on Facebook 

More than 3 million brands actively advertise on Facebook alone. It continues to be a platform of choice for brands to capture the attention of their desired audience.

YouTube Influencer Marketing Statistics

Here are some of the latest statistics showing just how important YouTube creators have become for brands:

18. Over 70% of Teenage YouTube Subscribers Trust Influencer Opinions Over Traditional Celebrities.

Seventy percent of teens on YouTube trust influencers more than traditional celebrities, mainly due to the relatability and authenticity that influencers bring to the table. 

Unlike traditional celebrities, who often seem distant, influencers are seen as ordinary people who become famous through their expertise or unique perspectives. This relatability makes teens feel like they can connect with influencers on a more personal level, leading to a higher level of trust.

19. 28% Of Consumers From the United States Report Following at Least One Virtual Influencer on YouTube

In the United States, approximately 28 percent of consumers report following at least one virtual influencer on YouTube. This data indicates a growing acceptance and interest in virtual personalities who offer unique perspectives and engaging content. Brands should consider exploring collaborations with virtual influencers.

20. 93% of Influencers Find YouTube as the Most Effective Platform for Increasing Video Viewership

YouTube continues to dominate the online video landscape, as evidenced by the fact that 93 percent of influencers consider it the most effective platform for driving online video viewership. This statistic reiterates the significance of video content in marketing strategies. Brands should prioritize YouTube as a critical channel for delivering engaging and informative video content about their products or services.

Plan Right With Insights

Whether you’re already running influencer campaigns or still on the fence, these numbers show the incredible power of influencers. People trust recommendations from their peers over traditional ads, and influencers have that peer effect in spades.

If you want to boost brand awareness, increase engagement, or drive sales, influencer marketing needs to be part of your marketing strategy. What’s more, you must also monitor your influencer marketing.

Mandala AI is a powerful social media tool that helps you win with influencer marketing, from finding the right influencers for your brand to managing and monitoring your influencer marketing campaigns.

Contact us to help you get started with your influencer marketing goals today!