Influencer Marketing Statistics - Featured Image

27 Amazing Influencer Marketing Statistics Everyone Is Talking About in 2020

Posted on |

Influencer marketing, which was once just a concept, has developed into a fully functional industry worth billions of dollars. It has risen to the point of competing for increased conversion rates and engagement with the more popular social media advertisements. 

Today,  influencer marketing is both productive and profitable, as revealed by influencer marketing statistics. What’s more, it has allowed ordinary individuals to attain celebrity status online.

With so much competition for consumers’ hearts, influencer marketing provides businesses with the unique opportunity to leverage the influence of specific individuals and their massive following to create brand awareness, increase sales, and win loyal customers. 

Discussed in this article are some of the most sought after influencer marketing data.

Top Influencer Marketing Stats (Editor’s Choice)

  • The influencer marketing industry could be worth $10 billion by the end of 2020.
  • 91% of marketers believe influencer marketing to be effective.
  • The top three objectives of every influencer marketing campaign are increasing brand awareness (85%), reaching new audiences (71%), and boosting sales/conversions (64%).
  • The average ROI of influencer marketing is $5.78 for every $1 spent. 
  • 96% of micro-influencers charge up to $1,000 per sponsored post.
  • 89% of businesses that utilize influencer marketing agree that its ROI is comparable to or better than that of other marketing mediums.
  • The most common budget for influencer marketing is $1,000-$10,000 a year.

Noteworthy Influencer Marketing Statistics

Through its precise targeting, influencer marketing can bring about multiple benefits for a business, such as increased brand awareness, enhanced public image, developed customer trust, fostered audience engagement, etc. 

In this section, you will acquaint yourself with some of the most useful influencer marketing data collected across various industries and social media channels. 

1. The influencer marketing industry could be worth $10 billion by the end of 2020.

(Influencer Marketing Hub)

Back in 2016, the influencer marketing industry was worth around $1.7 billion. By the end of 2019, its value rose to $6.6 billion, maintaining the YoY growth of almost 50% in the process. 

The influencer marketing market size is continuously increasing. The statistics reveal that the industry was valued at $9.7 billion in the first half of the year. As more businesses are beginning to acknowledge the importance of influencer marketing in generating revenue organically, its value could increase significantly by the end of 2020

2. 91% of marketers believe influencer marketing to be effective.

(Influencer Marketing Hub)

Statistics on influencer marketing reveal that there are currently over 3.8 billion social media users worldwide, some of whom are crowned as influencers with a large following. These individuals or brands have successfully earned the trust of their followers, and now position themselves as experts in specific niches. 

Celebrity endorsement statistics inform us that an audience believes the influencers it favors. This earned trust makes influencer marketing a useful marketing option for businesses looking to cut through the noise and stand out to a particular audience.

3. The top three objectives of every influencer marketing campaign are increasing brand awareness (85%), reaching new audiences (71%), and generating sales/conversions (64%).

(Mediakix)

The thing about influencer marketing is that your brand’s objective will dictate what factors should come into play when working alongside an influencer to curate content. Should it be a mention, a shout-out, or instructions to follow a page or click a link to visit a website? 

According to statistics on the power of social media influencers, influencers who understand their audience can curate content that is in line with a brand’s narrative while maintaining its uniqueness. Working alongside an influencer to curate content for an influencer marketing campaign also has the added advantage of retaining an influencer’s unique touch that has brought thousands of followers over the years.

4. Spotting fake followers is the greatest challenge of influencer marketing.

(Mediakix)

It is well-known that many people and brands buy followers to attain celebrity status or influencer status online. Fake followership is terrible for businesses looking to invest in influencer marketing. 

According to influencer marketing research, fake followership can lead to influencer marketing fraud, which over two-thirds of all marketers have experienced in the past. Also, fake followers can lead to reduced engagement, low sales, and wasted funds.

Influencer marketing analytics reveal that other influencer marketing concerns include: adapting to social algorithm changes, building an always-on strategy, adjusting to rising influencer costs, keeping up with social media trends, employing a creative approach, and reducing time spent managing campaigns.

5. Content quality ranks as the number one factor in determining which influencers to work with.

(Mediakix)

The role the quality content plays in influencer marketing cannot be overlooked. The recent influencer marketing study reveals that reusing content for conversion purposes will yield poor results. This emphasizes yet again the necessity of creating unique content for influencer marketing campaigns.

Other factors considered by marketers looking to invest in influencer marketing include the target audience, engagement rate, on-brand messaging, budget, referrals, etc.

6. Finding relevant influencers is a problem for 61% of marketers.

(Mediakix)

It is easy to get caught up in the euphoria of how effective influencer marketing can be for businesses. However, statistics on social media influencers’ impact inform us that not all the “so-called” influencers can help you achieve your campaign objective. Marketers looking to invest in influencer marketing need to put in the work to find the right influencers whose content resonates with their target audience to ensure maximum performance.

Influencer Marketing ROI Statistics

Are you still not sure about the effectiveness of influencer marketing campaigns? If that is the case, we have many other arguments up our sleeve.

In this section, we will embark on a financial journey that will show you how much you can expect to make when investing in various influencer marketing campaigns.

7. The average ROI for influencer marketing is $5.78 for every $1 spent. 

(Influencer Marketing Hub)

It is up from $5.20 recorded in 2018. What’s more, the top 13% of businesses are killing it with influencer marketing, as they generate over $20 per $1 spent. 

Influencer marketing works like a charm, and most companies that engage in it see a positive ROI in the long run. According to influencer marketing studies, around 25% of companies that fail in influencer marketing are the ones that jump into it without proper research. 

For influencer marketing to work, you have to select influencers whose followers are the ideal target audience for your business. Also, you have to work closely with an influencer to curate content that preserves their authenticity while also pushing your campaign’s objective.

8. Measuring and improving the ROI of influencer marketing campaigns is problematic for 78% of marketers.

(Mediakix)

During an influencer marketing campaign, marketers would usually work with more than one influencer to reach more audiences, making it difficult to track their return on investment in the long run. 

According to social media marketing facts, once an influencer marketing campaign kicks off, it can be easy for marketers to get carried away by the level of engagement from all the influencers’ channels. 

That said, it is crucial to monitor ROI across all campaigns to help identify the ones that aren’t working so you can cut them off or improve on them. Some other challenges marketers face during an influencer marketing campaign concern finding the right influencers (67%), maintaining communication (43%), following an agreement (30%), and handling payment issues (26%).

9. 74% of consumers trust social networks with their purchase decisions.

(Social Media Week)

People are always on the lookout for suggestions to reach their purchase decisions. As many as 49% of consumers consider influencers’ recommendations. 

The good thing about influencer marketing is that customers don’t necessarily need to be exposed to your content. Their loved ones, who purchased your product or shared your content, can also help you drive new customers’ purchase decisions. As the statistics show, reviews from family and friends significantly impact 71% of consumers’ buying decisions, as the influencer marketing statistics for 2020 reveal.

10. Micro-influencers are 6.7 times more cost-effective than influencers with a much larger following.

(Social Media.Org.NZ)

Micro-influencers are social media users with 1,000-100,000 followers. These influencers are individuals that have successfully established their presence on social media by engaging their audience through unique and consistent content. 

The fact that these micro-influencers have painstakingly built a large following through engaging content of their own makes them appear trustworthy. Their posts generate a lot of quality engagement because they offer some invaluable information to those interested. 

11. 96% of micro-influencers charge up to $1,000 per sponsored post.

(Influencer Marketing Hub)

Statistics tell us that 87% of these micro-influencers charge up to $500 or less, while 84% charge up to $250 per sponsored post. What’s more, 77% of micro-influencers post content daily, and 48% post at least twice a day. 

Such frequent updates and an opportunity to reach an already interested audience make micro-influencers indescribably appealing to businesses of all sizes.

Social Media Influencer Marketing Statistics

Social media has made influencer marketing a force to be reckoned with. However, not all social media platforms yield the same results when it comes to influencer marketing campaigns. 

Following this, we have gathered some of the best influencer marketing reports on social media to guide your decision-making process and show you what works best.

12. 62% of marketers turn to Snapchat for influencer marketing.

(Mediakix)

While it might sound like a lot, this figure places Snapchat among the least used social media channels. Lack of access to the audience’s data and poor user functionality are the reasons why the popularity of Snapchat as an influencer marketing platform continues to decline. There are now twice as many Instagram story daily users than Snapchat’s daily active users, further indicating how much the value of Snapchat has plummeted.

13. Twitch Livestream is the least used influencer marketing content format (5%).

(Big Commerce)

Although the Twitch platform can boast about 15 million daily active users (mostly gamers), its Livestream has been identified as the least used channel for influencer marketing. This is mainly because the Livestream format has not yet been fully developed.

14. Nearly 40% of Twitter users have made a purchase as a direct result of a tweet from an influencer.

(Twitter)

Statistics show that purchase intent on Twitter increases by 5.2 times when consumers are exposed to content from their favorite influencers and brands. 

Twitter has undoubtedly become a reliable option for consumers seeking guidance in making purchase decisions. The platform’s reliability makes it easier for influencers to sway buyers’ opinions towards a specific brand. 

15. 70% of teenage YouTube subscribers say they are more likely to be influenced by a YouTube creator than traditional celebrities.

(Google)

Unlike Millennials, the younger generations (Gen Z and Gen Alpha) seem to be glued to their screens since the day they are born. The Internet has most certainly impacted today’s youngsters, their needs, wants, and preferences in influential figures.

According to statistics about influencer marketing, Millennials who grew up watching TV are more likely to look up to traditional celebrities. In contrast, Gen Zers find their idols across various social platforms.

16. Six in ten YouTube subscribers say a YouTube creator is likely to have more impact on their purchase decisions than any traditional celebrity.

(Influencer Marketing Hub)

Multiple YouTube influencer marketing statistics point to the importance of YouTube creators. The crucial role of these creators has been cemented, given that YouTube is the second largest search engine in the world after Google and the second most visited social media platform after Facebook. 

The traffic on YouTube is massive, as statistics have shown that 2 billion people use the platform monthly. What’s more, with over 500 hours of videos uploaded on the YouTube platform every minute, the possible reach is not something to take lightly. 

17. YouTubers with 1 to 3 million subscribers make an average of $125,000 per post.

(Neil Patel)

Influencers with over 7 million subscribers on YouTube make up to $150,000 per post on average. Whether through branded ads, AdSense, merchandise, affiliate links, or Patreon — YouTubers make money in different ways, some of which are currently more effective than others.

Influencer Marketing Statistics - Instagram Login

Instagram Influencer Marketing Statistics

Nowadays, it is impossible to talk about influencer marketing without mentioning Instagram. 

This section will shed light on some of the most influential and up-to-date Instagram influencer marketing figures to prove to you why Instagram is regarded as the best platform for influencer marketing worldwide.

18. Instagram is the most used and the most impactful influencer marketing channel worldwide.

(Big Commerce)

Instagram has over 1 billion monthly active users and over 500,000 influencers worldwide. This has crowned Instagram the most critical influencer marketing channel for businesses, placing it ahead of other social media channels.

The ease of creating content and sharing quality photos is one of the essential features of the platform that has helped influencers stand out. Instagram also gave way for a new wave of influencers with small followings between 1,000-50,000. All of this has made the platform more accessible to businesses, as revealed by influencer marketing statistics for 2019.

19. Instagram posts are the most popular format used by businesses for influencer marketing.

(Big Commerce)

78% of marketers have reportedly identified Instagram posts as their most effective influencer marketing format compared to other formats such as videos and long-form content. This is due to its ease of production and affordability. 

Instagram stories are not far behind, with 73% of marketers already using the feature. Over 500 million Instagram users today use Instagram stories, so it is no surprise that it has a large following of both marketers and influencers. 

Some other popular formats on Instagram identified by marketers are YouTube and Instagram videos.

20. 89% of marketers have identified Instagram as the most important social media platform for their influencer marketing strategies.

(Mediakix)

There is no one-size-fits-all when it comes to influencer marketing –– it all depends on your campaign’s objective and your target audience. 

That said, the main feature that makes Instagram a reliable go-to source for marketers looking to invest in influencer marketing is that it is home to over half a million influencers scattered across various niches. In addition to this, the influencer marketing statistics reveal that the usage of Instagram is instrumental in meeting campaign’s objectives. 

21. 81% of Instagram influencers fall into the micro-influencers category.

(Grin)

The importance of micro-influencers is constantly increasing. This is due to the high level of engagement between them and their followers, coupled with their affordability.

Furthermore, their charges may not be as high as those of celebrity influencers with millions of followers or macro-influencers with hundreds of thousands of followers. The increasing importance of micro-influencers is tied to the high ROI they help generate.

22. Influencer marketing on Instagram is set to be worth $2.3 billion by the end of 2020.

(Statista)

In 2017, this figure was at $0.8billion. The influencer marketing budget for Instagram reveals that by 2018, the platform’s value rose to $1.3 billion. Fast-forward to the end of 2019, it was already at $1.7 billion, and it is expected to continue rising in 2020. 

With more than 80% of marketers planning to increase their budget allocated to influencer marketing for the year, it is almost inevitable that spending on Instagram influencer marketing will rise. Statistics suggest that it is the platform preferred by 89% of marketers involved in influencer marketing.

23. Dwayne Johnson is the highest-paid Instagram influencer worldwide.

(Hopper HQ)

Dwayne “The Rock” Johnson is a wrestler and an actor who has starred in popular movies. He is the top marketing influencer on Instagram with an advertising charge of $1,015,000 per post.

Other top celebrity influencers that earn the most from advertising on Instagram include:

  • Kylie Jenner — $986,000 per post
  • Cristiano Ronaldo — $889,000 per post
  • Kim Kardashian —  $858,000 per post
  • Ariana Grande — $853,000 per post

B2B Influencer Marketing Statistics

As influencer marketing begins to gain momentum, we see more businesses setting aside finances for the sole purpose of influencer marketing. In this section, you will be introduced to some of the essential B2B influencer marketing data.

24. 66% of marketers who invest in influencer marketing plan to increase their budget over the next 12 months.

(Influencer Marketing Hub)

This is up from 39% recorded in 2018, further indicating the growing importance of influencer marketing. However, 17% of businesses investing in influencer marketing say they plan to keep their budget the same as 12 months ago, with only 4% agreeing to decrease their budget for 2020.

25. The most common influencer budget is $1,000-$10,000/year.

(Big Commerce)

It is followed closely by a budget of $100,000-$500,000 per year. According to the influencer marketing statistics, 19% of businesses have plans to invest $1,000-$10,000 in influencer marketing, while 18% of companies have a budget of $100,000-$500,000 for influencer marketing in 2020. 

Reports go further to inform us that only 7% of companies worldwide are planning to spend over $1 million on influencer marketing in 2020. What’s more, 17% of companies worldwide are planning to spend more than half of their marketing budget on influencer marketing.

26. 89% of businesses that utilize influencer marketing agree that its ROI is comparable to or better than that of other marketing mediums.

(Mediakix)

Influencer marketing stats reveal that 71% of marketers agree that the quality of traffic coming from influencer marketing is better than the one from other forms of marketing. Overall, 80% of marketers find influencer marketing useful. 

Like it or not, influencers have a say in people’s decision making, especially purchase decisions. What’s more, it is targeted marketing as it ensures that you only work with an influencer whose content correlates with your brand’s message. That way, it is easier to get your message across to your audience.

27. 75% of marketers identify engagement rates as the most critical metric for measuring influencer marketing success.

(Big Commerce)

We mentioned earlier how measuring ROI was a problem for most marketers. As it turns out, according to influencer marketing research, many other metrics can be used to measure influencer marketing success, such as website visits, number of redeemed promo codes, number of sales, etc. 

However, most marketers cite the engagement rate as their preferred method to measure the success of influencer marketing campaigns. Engagement rate involves all likes, comments, shares, favorites, etc., gathered throughout a campaign.

Wrap Up

Influencer marketing as an advertising channel, when done right, has a vast audience reach, high ROI, is cost-effective, and affordable to most businesses. Small and medium-sized companies (SMBs) can increase their brand awareness through influencer marketing. Likewise, big companies can use it to gain more loyal customers and ultimately increase their revenue.

FAQ

Q: How many Influencers are there?

There are no specific means to determine the total amount of influencers across all social media platforms. However, in 2018, Vivien Garnès, CEO and co-founder of the search engine “Upfluence,” indicated that there were more than 1.1 million influencers scattered across all platforms, according to the search engine’s records. 

Q: How many Instagram influencers are there?

There are currently more than 500,000 influencers on Instagram. These influencers range from models to photographers, engineers, sales experts, marketing specialists, music stars, movie stars, footballers, software developers, etc. 

Q: How effective are Instagram Influencers?

Instagram marketing is very effective, according to 80% of marketers who use the platform for influencer marketing campaigns. 

Marketers admit that the leads coming from Instagram influencer marketing campaigns are targeted and highly valuable. With over 1 billion monthly active users and over 500,000 Instagram influencers, there is no limit to the effectiveness of influencer marketing on Instagram.

Q: Who are the top 10 Influencers?
  1. Cristiano Ronaldo.Christiano Ronaldo is a football player with multiple sports deals to his name from big brands like Nike, EA Sports, etc. The star currently has over 230 million followers on Instagram alone.
  2. Ariana Grande.Ariana Grande is a multi-talented pop star with various musical awards to her name. The star has close to 200 million followers on Instagram.
  3. Dwayne “The Rock” Johnson.Dwayne “The Rock” Johnson is a wrestler who has found fame in the movie industry. He is currently the highest-paid actor in the world and has the following of over 190 million people on Instagram. His influencer marketing growth is truly one of a kind. 
  4. Kylie Jenner. Kylie Jenner is a part of the Kardashian/Jenner family. She became the world’s youngest billionaire at the tender age of 21 and currently has around 190 million people following her on Instagram. 
  5. Selena Gomez.Selena Gomez, the Billboard “Woman of the Year” in 2017, is a multi-talented artist and movie star with over 185 million followers on Instagram.
  6. Kim Kardashian West. She is yet another member of the Kardashian/Jenner family. Kim Kardashian is a media personality, model, businesswoman, socialite, and activist with over 180 million followers on Instagram.
  7. Justin Bieber:Justin Bieber started his music career at the age of 13, and he is still one of the most influential personalities in the American music industry. The superstar currently has over 143 million followers on Instagram.
  8. Neymar da Silva Santos Júnior.Neymar is a Brazilian professional footballer who plays for Paris Saint-Germain. The multi-talented star has an eye for fashion and is followed by 140 million people on Instagram.
  9. Taylor Swift:Taylor Swift is a Grammy award-winning American artist with almost 140 million followers to her name on Instagram.
  10. Kendall Jenner:Kendall Jenner is a supermodel and another member of the Kardashian/Jenner family, with over 135 million followers.
Q: What is influencer marketing, and how does it work?

Influencer marketing is a form of advertising with marketers leveraging the influence of specific individuals, brands, or agencies that have successfully accumulated a reasonable amount of following within a particular niche through content creation and engagement. 

These individuals are not necessarily referred to as celebrities. They are rather ordinary people with expertise in specific areas who have successfully fostered a loyal fanbase that looks up to them and values their content and opinions. 

According to influencer marketing statistics, businesses that wish to utilize influencer marketing have to pay a certain amount to gain access to influencers’ followers through their content. It could be a shoutout, an Instagram post, a video skit, or a freebie to help drive traffic to your business.

Either way, you still have to pay these influencers a certain amount and work with them to come up with original content that maintains the voice of an influencer while conveying your brand’s message without sounding pushy.

Resources: