As influencers give businesses access to an already engaged and loyal audience, the revenues speak for themselves. These latest influencer marketing statistics show the ways that social media influencers are changing the face of marketing and brand awareness.
- Influencer marketing is projected to reach $13.8 billion worth in 2021.
- Brands gain $5.20 for every $1 spent on influencer marketing.
- 63% of marketers will increase their budget in 2021.
- 86% of marketers use influencer marketing campaigns to raise brand awareness.
- 3.2 million online content creators earn six figures annually.
- Around 70% of people decide to be influencers to earn an income.
- TikTok’s micro-influencers have an engagement rate of almost 18%.
1. Influencer marketing is projected to reach $13.8 billion in worth by the end of 2021.
Even though pandemic caused a significant economic distress, influencer marketing grew due to people spending more time online than ever.
The market size was $9.7 billion in 2020, marking a $3.2 billion growth compared to 2019 ($6.5 billion).
2. 93% of companies use influencer marketing.
Nine out of ten marketers collaborate with influencers as a part of their marketing strategy. This approach is still in its early stages, yet influencer marketing growth has been significant in the last few years.
With only a rough 7% of brands reporting never using it, more businesses are turning to the power of social media to boost their brand.
3. Brands gain $5.20 for every $1 spent on influencer marketing.
About 48% of people feel that the influencer marketing ROI is better than any other marketing channel, while 41% believe that returns are identical.
The high ROI suggests that influencer marketing is incredibly rewarding for brands, at a much lower investment than traditional advertising.
4. 63% of marketers will increase their influencer marketing budget in 2021.
Over two-thirds of brands intend to invest more in influencer marketing over the next 12 months.
With most brand representatives reporting that they use their marketing budget to support influencer campaigns, marketing statistics for 2021 suggest that brands will spend up to $15 billion by the end of 2022.
5. Instagram is the most used social media in influencer marketing.
89% of marketers report that Instagram is the most valuable channel for promoting products on social media.
The most effective formats are Instagram posts and stories, as they attract the most views and likes, while Youtube videos came in third place.
6. 86% of marketers use influencer marketing campaigns to raise brand awareness.
The primary purpose of using influencers in marketing is to raise brand awareness.
Brands also use influencer marketing campaigns to reach new or targeted audiences that influencers have a following with already, especially to improve brand promotion and conversion rates.
Other goals may include driving engagement, improving brand reputation, and generating sales.
7. 80% of consumers have bought a product after being recommended by an influencer.
Influencer marketing stats for 2021 demonstrate that trusted influencers can bring in a lot of revenue. Most followers trust the influencer’s they follow and are therefore more likely to purchase something they suggested.
8. 50% of millennials trust influencers to give brand recommendations.
Influencer marketing trends state that millennials not only trust influencers, but would also like to become one. This generation is more than willing to share their knowledge with their online audience and support their favorite brands.
Top millennial influencers are actively participating in many different industries: from finance, food, and fashion, to makeup, climate change, and social justice.
9. 61% of marketers admit that it’s not easy to find the right influencers.
When promoting a campaign, finding the right influencer can be arduous. According to B2B influencer marketing statistics, most brands struggle with spotting fake followers and bots from the real deal. Trying to find influencers that both fit the brand and have a broad reach is essential to a successful campaign.
Additionally, brands need to build an authentic relationship with influencers and not only focus on the benefits of influencer marketing but also be open to the knowledge that influencers possess about their followers and target audience.
10. 3.2 million online content creators earn six figures annually.
With the popularity of online social media platforms and the lucrative deals of their most prominent names, plenty of people are keen to enter the influencer market.
Research shows that a total of 50 million people will soon be considered a part of the content creator economy.
11. Around 70% of people decide to be influencers to earn an income.
An influencer marketing study reported that the majority of people become influencers in order to earn money, and 58% said they do it in order to make an impact and create social change.
Social media is a main platform for many Millennials and Centennials to spread their message and earn an income just for being themselves.
12. 36% of marketers use micro-influencers.
Despite not having the largest following, these influencers can make quite an impact. More than a third of brands use micro-influencers, while 30% of them use celebrities.
The influencer marketing spend between micro-influencers and celebrities is similar.
It does seem, however, that micro-influencers have a more powerful effect on purchasing decisions due to their close relationship with their followers.
13. 54% of influencers will work with brands that respect their work as they would any other promoter.
Influencer marketing stats report that influencers demand respect from the brands that select them.
Most influencers say that they won’t work with a brand if the restrictions of what they can post are too limited. Influence marketing works differently than any other marketing strategy, because without the influencer, it doesn’t work.
14. In December 2019, a post from fashion influencer Chiara Ferragni generated around $105,000.
When it comes to celebrity endorsements, statistics show that brands can gain 20% to 40% in revenue through using celebrity endorsements. By creating trust and familiarity with consumers, employing big-name influencers can be a lucrative strategy for marketers.
In the last few years, Chiara Ferragni has been one of the top social influencers with 22.4 million followers on Instagram, while Mariano di Vaio ranked second, generating around $36,000 per post.
15. Kylie Cosmetics is the most popular cosmetic brand, with 25 million followers on Instagram.
Influencer marketing by industry greatly depends on the market size of the niche. For example, the modeling and beauty sector has the most popular influencers, reaching up a maximum of 25 million per brand.
Anastasia Beverly Hills comes right after with 20 million Instagram followers and Benefit Cosmetics US completes the top three with 10 million followers on the platform.
Social influencers have built a relationship based on authenticity and loyalty with their supporters. Thanks to their content creation, they have an enormous number of followers engaging with their content on a daily basis.
16. 82% of marketers promote their company on Facebook.
Facebook influencer marketing is one of the most used platforms by companies on the web, especially among millennials’ parents and older generations.
However, companies state that Facebook Ads are getting more expensive and harder to improve, leaving space for the competition from newer platforms.
17. About 40% of users say they purchased a product from a Twitter influencer.
Twitter users follow most influencers primarily for entertainment, and yet Twitter influencer marketing can reach a broad range of audiences.
Although Twitter has more traditional influencers like actors and musicians, twitter users still seem to trust the recommendations of those they follow.
18. Micro-influencers on TikTok have an engagement rate of 17.96%.
TikTok has experienced an unprecedented growth rate over the last few years—it currently attracts 689 monthly active users.
The platform is one of the best places to market to a large, young audience, and micro-influencers seem to be the best bet.
19. Marketers will be spending $110,628 million in 2021 on influencer strategies.
According to research on social media ads, statistics show that platforms such as Facebook, Twitter, Instagram, and Linkedin generate vast amounts of revenue for many businesses.
Over the years, social media has indeed established itself as a potent market for most advertisers and shows no sign of decline in the near future.
20. Instagram has more than 558,000 active influencers on the platform.
Instagram has the most social media influencer impact out of all networks.
The amount of influencers on Instagram are high across the platform’s different niches, and this number covers 39% of the Instagram accounts that have more than 15,000 followers.
21. As influencer followers increase, the engagement rates on Instagram decrease.
While it may seem sensible for brands to go for big-time influencers with millions of followers, research suggests this may not be so wise. Ultimately, the pull of influencers is that they have not only access to users but that the users are actively engaged with their profile.
A recent influencer marketing report showed that influencers with less than 1,000 followers generated engagement 8% of the time, while users with more than ten million followers only created engagement 1.6% of the time.
22. Around 30% of the most viewed stories come from businesses.
With the introduction of Instagram stories, people have become more interested in following specific brands or products.
Sharing content, swiping up, and using stickers made images and videos more interactive. Importantly, social media reach statistics demonstrate that Instagram stories drive brand awareness, transactions, and engagement.
Nine out of ten marketers have partnered with an influencer on social media, gaining remarkable results for brand awareness and product sales. Marketers face the challenge of choosing the right influencer, however.
Being able to identify fake accounts and bot followers from real consumers is essential to the success of influencer marketing strategies and limiting unnecessary costs.
Most brands believe that attracting celebrity endorsements is more beneficial than partnering with smaller influencers, but recent statistics challenge this belief.
Micro-influencers have a greater impact on consumers due to their loyal and engaged user-base. As the influencer market grows over the decade, many brands may start to realize the benefits of the common trope, ‘less is more.’
Today, 93% of marketers use influencer marketing as part of their business strategy. Notably, investing in influencers is becoming the norm—thanks to their loyal followers and engagement, they can ensure considerable earnings for many brands.
Nearly 92% of marketers believe that influencer marketing is a highly effective form of marketing. Influencers create higher user engagement than brands themselves. Notably, the average engagement rate is at 5.7%. For this reason, 90% of marketers will maintain or increase their budget for influence marketing over the next few years.
The influencer marketing industry will be worth around $15 billion by 2022. According to Insider Intelligence and MediaKix, the industry was worth $8 billion in 2019. Data suggests that the overall value will increase over the years. Currently, Instagram is the top social platform that attracts the majority of influencers.
About 93% of businesses use influencers. One of the most relevant industries in influencer marketing is fashion, with 57% of beauty companies using influencers for promoting their products, and 21% who are planning to in the future.
Close to half a million influencers are currently on Instagram, the most preferred social network. When promoting a product, brands have a long list of influencers they can choose from, but that’s not always easy. Influencer marketing statistics report that detecting fake followers is an integral skill for brands seeking the right influencer and audience for their strategy.