Influencer marketing has exploded in popularity over the last few years. As social media continues to integrate deeper into our lives, influencer collaborations have become a go-to tactic for brands looking to raise awareness and drive sales.
But how effective is influencer marketing really? And what can data and statistics teach us about best practices?
I‘ve compiled 45+ up-to-date influencer marketing statistics to help answer those questions. You‘ll discover insights into budgeting, content strategies, platform preferences, engagement rates, and more.
Let‘s dive in!
Key Influencer Marketing Stats and Trends
Before we get too deep, here are a few of the most notable influencer marketing statistics:
- The industry is expected to grow to $21.1 billion in 2023 (Influencer Marketing Hub)
- 32% of marketers say influencer content is most effective for increasing engagement (Statista)
- The average influencer charges $257 per sponsored post (Collabstr)
- 82% of global influencer marketing spend goes to influencers in the US (Collabstr)
As you can see, budgets are ballooning, and engagement makes it all worthwhile.
Now, let‘s explore the specifics in more detail. I‘ve divided the remaining stats into five sections:
- General Influencer Marketing Stats
- Financial Influencer Marketing Stats
- Social Media Marketing Stats
- Content Marketing Stats
- Video Marketing Stats
General Influencer Marketing Statistics
These stats provide an overview of marketer and influencer preferences, campaign structures, partnership dynamics, and more.
Marketers overwhelmingly believe in influencer marketing
Influencer marketing might still feel "experimental" in some ways, but make no mistake – it‘s here, and it works.
- 83% of marketers believe influencer marketing to be an effective form of marketing (Influencer Marketing Hub)
- 90% of marketers believed influencer marketing was effective in 2022, down slightly to 83% in 2023 (Influencer Marketing Hub)
Clearly, the vast majority of marketers are on board with influencer collaborations as part of their digital marketing strategies.
Marketers prefer working with "micro" and "nano" influencers
Contrary to popular belief, you don‘t need celebrities and mega-influencers with millions of followers to run effective campaigns. The data shows that smaller influencers often provide better returns:
- 39% of marketers prefer partnering with "nano" influencers that have 1,000-10,000 followers (Influencer Marketing Hub)
- 30% prefer "micro" influencers with 10,000-100,000 followers (Influencer Marketing Hub)
- Only 12% use mega influencers and celebrities (Influencer Marketing Hub)
Marketers enjoy greater personalization, higher engagement rates, and more reasonable pricing with nano and micro-influencers.
Most campaigns happen on a monthly basis
In the early days of influencer marketing, brands would often run one-off campaigns sporadically. But now that the strategy has proven itself, longer-term partnerships are more common:
- 48% of marketers run influencer campaigns monthly (Influencer Marketing Hub)
- 18% run campaigns quarterly (Influencer Marketing Hub)
- 19% collaborate with influencers for specific product launches (Influencer Marketing Hub)
Monthly content plans help drive consistent brand awareness rather than short bursts sporadically.
Authenticity is critical in choosing influencer partners
As consumers grow weary of overly-polished and corporate influencer content, authenticity has become a major consideration:
- 67% of influencers are willing to work with brands they trust but don‘t love for the right price (CreatorIQ)
- Just 24% of influencers only work with brands they personally love (CreatorIQ)
This balance of financial motivation and trust/relevance is important for brands to understand.
Most influencers receive brand deals in the United States
For all its international reach and promise, influencer marketing remains largely focused in the United States for now. But major markets like Canada, Australia, and parts of Europe also drive significant spend:
- The majority of influencers receiving brand deals are still based in the United States (Collabstr)
- Other leading regions include Canada, UK, Australia, Germany, and Mexico (Collabstr)
As influencer marketing grows globally, it will be interesting to see if this list evolves. But the US clearly leads the way in early adoption.
Financial Influencer Marketing Statistics
Let‘s talk budgets, returns, and just how much this rapidly-growing industry is worth…
Influencer marketing is now generating over $16 billion per year
From humble beginnings just a few years ago, influencer marketing has ballooned into a $16+ billion industry:
- $16.4 billion was spent on influencer marketing in 2022 (Influencer Marketing Hub)
- Projected to grow to $21.1 billion in 2023 (Influencer Marketing Hub)
What began as an experiment is now a central pillar of digital marketing strategies.
The United States drives the vast majority of global spend
Despite its worldwide reach, influencer marketing remains heavily concentrated in North America (for now, at least):
- A massive 82% of total influencer marketing spend is in the United States (Collabstr)
- Only 8% happens in Canada, 5% in UK, and 5% in Australia
As other countries nurture their own communities of influencers, these figures could certainly change. But the US leads the way for now.
67% of marketers are increasing budgets in 2023
Clearly, positive returns on investment and enthusiasm for influencer content have convinced marketers to keep budgets growing:
- 67% of marketers will spend more on influencer marketing in 2023 (Influencer Marketing Hub)
- 23% allocate over 40% of total marketing budgets to influencers (Influencer Marketing Hub)
In an increasingly crowded digital landscape, influencer partnerships are proving to be a cost-effective way for brands to cut through noise and authentically connect with their target audiences.
Social Media Marketing Statistics
Influencer marketing and social media are deeply intertwined. So what platforms are marketers and influencers focusing their efforts on?
Instagram and TikTok lead, YouTube has high untapped potential
The data shows Instagram and TikTok neck-and-neck in popularity, with YouTube a bit further behind – but boasting impressive engagement:
- 55.5% of brands use TikTok influencer marketing (Influencer Marketing Hub)
- 50.8% use Instagram (Influencer Marketing Hub)
- Despite being #3 in adoption, YouTube delivers high engagement with 4.14% average rates (Statista)
YouTube definitely deserves more influencer marketing attention than it‘s currently receiving based on the engagement numbers alone.
Facebook maintains an influencer marketing presence
Despite waning organic visibility, Facebook remains a factor in influencer marketing budgets thanks to its massive scale:
- 42.1% of brands use it for influencer campaigns (Influencer Marketing Hub)
Its billion-plus user base is hard to ignore. But rising scandals and controversies have dented its reputation, allowing Instagram, TikTok and YouTube to surge ahead in perception and effectiveness.
Twitter sees very little influencer investment
Bringing up the rear of the major social platforms, Twitter lags significantly in current influencer marketing adoption:
- 73% of brands plan to use Twitter the least in 2023 (Aspire)
However, Twitter plays a crucial role in news, politics, business, and cultural commentary. For the right brands, partnering with Twitter-famous influencers can provide great dividends. But most marketers are focusing their budgets elsewhere.
Content Marketing Statistics
Beyond platforms, what kinds of content do brands leverage influencers for? Visual content – especially video – leads the way…
63% of marketers have a dedicated content marketing budget
Influencer content makes up a sizeable portion of content budgets and strategies these days:
- 63% of marketers have an allocated budget for content marketing activities (Influencer Marketing Hub)
That number has risen steadily in recent years, from just 55% in 2020.
94% will invest most in video
It‘s clear where marketers are directing their content dollars in 2023 – video reigns supreme:
- 94% of brands plan to invest most content marketing dollars into video (Aspire)
Between IGTV, Reels, TikTok, YouTube Shorts, and more – it‘s never been easier to access and repurpose vertical video content at scale.
82% repurpose influencer content
In a content marketing win-win for everyone, most brands actively repurpose content originally created by influencers:
- 82% of brands repurpose influencer content (Aspire)
- 63% share it on branded social channels (Aspire)
- 56% use it in ads (Aspire)
- 50% add it to websites and product pages (Aspire)
Smart marketers are doubling down on their content investments by reusing compelling influencer videos across multiple channels both on and off social media.
Additional Influencer Video Marketing Statistics
Speaking of video, creative influencer collaborations consistently deliver stellar video engagement rates across every major platform:
- YouTube boasts 4.14% average engagement rates (Statista)
- On TikTok, nano influencers with just 1,000-5,000 followers generate $0.06 cost per engagement on average (Aspire)
- Multi-platform influencers driving 78,519 views/engagements from YouTube videos on average…compared to 6,289 on TikTok, their #2 video source (Aspire)
Platform choice can make a dramatic difference in overall video performance. But broadly speaking, well-structured influencer video campaigns substantially out-engage branded video efforts.
Final Thoughts
After reviewing all the latest data and survey results across dozens of influencer marketing statistics reports, the story is clear…
Influencer marketing delivers impressive returns across awareness, engagement, conversions, and more. Budgets are growing rapidly as brands double down on what‘s working.
Marketers who aren‘t yet using influencer content strategies may soon be left far behind their competition.
But for those embracing influencers, the future looks very bright indeed. Their ability to blend entertainment value with authentic storytelling gives them truly unique marketing abilities.
Hopefully these up-to-date stats provide tactical insights you can implement right away as you maximize your own influencer collaborations.
The growth we‘ve seen so far is likely only the very beginning. Savvy brands should continue forming long-term partnerships with relevant influencers from their niche – and prepare for this strategy to drive marketing success for years to come.
