Influencer marketing campaigns have become an increasingly popular way for ecommerce brands to connect with their target audience and drive sales. In 2023, it is more important than ever for ecommerce brands to understand the latest influencer marketing statistics and trends in order to make informed decisions about their influencer campaigns.

Influencer marketing has grown on all platforms over the last few years, and increasingly with the pandemic, as a way for brands to have influencers post sponsored posts on marketing channels. Brands launch collaborations and brand partnerships with YouTube influencers, Instagram influencers, and more, to try to gain a return on investment by generation conversions to sales.

By knowing the latest influencer marketing statistics, ecommerce brands can better understand the impact of influencer marketing strategy on their business, and make strategic decisions about how to allocate their marketing budget and resources. Additionally, understanding the latest influencer marketing trends can help ecommerce brands stay ahead of the curve and stay competitive in an increasingly crowded market.

In this blog post, we will take a deep dive into the latest influencer marketing statistics and trends for 2023, and explore why it is so important for ecommerce brands to stay informed about them.

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Up-to-date influencer marketing statistics

We searched far and wide for all of the influencer marketing statistics that you need to justify cost, use in reports, look at for benchmarks and more.

Statistics for the state of influencer marketing

• The influencer marketing industry is worth $13.8 billion.
• Experts believe that influencer marketing will become a $15 billion industry by 2022 through influencers, influencer marketing spending, and consumers.
• 82% of consumers trust the opinions they see on social media channels.
• 34% of brands say they have difficulty finding influencers (mega-influencers and micro-influencers).
• 77% of marketers measure the success of their influencer campaigns using average engagement metrics, which is followed by clicks at 65%. One example is average engagement rate. You can use the ratio of someones number of followers (follower count), to see how many engage or click-through. If there is a low engagement rate, it can indicate fake followers. This means branded content won’t get as much engagement as you think.
• 90% of marketers state that they’re most interested in working with micro-influencers, followed by macro-influencers (72%).
• 18% of marketers find following FTC guidelines challenging.
• Couples are emerging as a new wave of successful influencers across social platforms. Using their relationship, many are leveraging their status to build a brand.
• 4 out of 5 brands use instagram for influencer marketing as opposed to other platforms like Linkedin.
• According to statistics published by MediaKix, 71% of companies believe that the traffic they receive from influencer marketing is better quality than traffic from other sources.

Influencer marketing industry statistics

• An approximate spend of $3.69 billion on influencers which is expected to increase to $4.14 billion in 2022.
• Worth just $1.7 billion in 2016, the industry is set to reach $13.8 billion by 2022 as the industry witnesses more growth and becomes a more effective marketplace.
• Almost half of respondents spend 20% or more of their budget on this type of marketing next year.
• 77% of respondents said that they run influencer campaigns with their own employees, instead of using an agency.
• 64% of marketers say they use influencer marketing or plan to do so in 2022. (State of Social Survey, Meltwater).
• Micro-influencers had 91% of the market share in 2021, compared to 89% in 2020.

Influencer marketing effectiveness statistics

• 40% of millennials feel that social media influencers and content creators know them better than their friends. Finding the right influencer for your brand can move the needle if your audience trusts them.
• 70% of teens on YouTube creators on YouTube more than celebrities.
• 80% of people surveyed admit to buying something based off of seeing a recommendation from an influencer.
• 49% of customers depend on influencer recommendations.
• 75% of consumers (potential customers) trust recommendations they see on social media and content algorithms, including both influencers and their social circles.
• 47% said that case studies are the most valuable influencer content.
• 60% of marketers believe influencer-generated content performed better.
• 49% of consumers depend on influencer recommendations, according to Digital Marketing Institute.

Influencer marketing ROI statistics

• Influencer marketing achieved 11x the ROI than banner ads.
• On average, businesses earn $5.20 for every dollar spent on influencer marketing.
• Businesses can generate as much as $18 of earned media value for every dollar invested.
• 89% of marketers say that influencer marketing achieves an ROI at least as good as other methods.
• Twitter found a 5.2% increase in purchase intent on Tweets from influencers over Tweets from brands or companies. 

Benefits of influencer marketing statistics

• 51% of marketers say influencer marketing helps them acquire better customers.
• 42% of marketers consider influencers a top ROI-generating strategy.
• 61% of consumers trust influencer recommendations, compared to 38% who trust brand-produced content.
• Over three-quarters of consumers trust opinions they find on social media, including those from friends, families and influencers, to help them make the right decision about buying a product or service.
• In the US ad-blocking usage is 37% on laptops and 15% on mobile, as consumers are tired of being hammered with pop-ups and banners–Making influencers crucial.

Influencer marketing growth statistics

• 66% of brands are expected to increase their influencer marketing budgets.
• 64% of marketers say they use influencer marketing or plan to do so in 2022. (State of Social Survey, Meltwater).
• Nearly 40% of B2B marketers plan to use influencer marketing more in the future. Social media influencer statistics.
• TikTok will soon become the 3rd most popular social media channel for influencer marketing.
• 45% of marketers said they already use TikTok for influencer marketing. (Influencer Marketing Hub)
• TikTok influencers have the highest engagement rates of social media influencers. (Influencer Marketing Hub)
• 79% of brands use Instagram for influencer marketing.
• The most important social media platform for influencer marketing for 97% of marketers is Instagram.
• Facebook is rated as an important channel for influencer marketing by 45% of marketers and Twitter by 33%.
• Snapchat is the least popular social media platform for influencer marketing.
• 38% of influencers use tactics that artificially inflate their followings.
• 56% of surveyed marketers responded that they had worked with the same influencer multiple times.

Influencer marketing statistics by demographic

Gen Alpha influencer marketing statistics

• 25% of Gen Alphas use influencers as their main source of shopping inspiration (Wunderman Thompson)
• 31% of young internet users state that an email marketing campaign doesn’t affect their purchasing decisions.

Gen-Z influencer marketing statistics

• Social commerce affects 59% of zoomers. This means that they are more likely to purchase a product if a blogger recommends it.
• 52% of the target audience value authentic snaps more than professionally-edited product photos.

Millennials influencer marketing statistics

• Only 64% of teens expect shops to provide a personalized experience, while 74% of older millennials share the same view.
• A little over 50% of millennials research local businesses online (WebsiteBuilderExpert).

Boomer influencer marketing statistics

• Within people aged 55 to 64, 94% use a cell phone and 58% have at least one social media profile
• Within people 65 and over, 92% use a cell phone and 34% have a social media profile.
• boomers spend on average 27 hours a week online – two hours more than 16 to 34 year olds

Conclusion

In conclusion, influencer marketing has become a crucial part of many brands’ marketing strategies. Understanding the latest influencer marketing statistics can help brands make informed decisions about their campaigns and measure their success.

Staying up-to-date on influencer marketing statistics can help brands stay ahead of the curve and adapt to any changes in the industry. Overall, knowing and understanding influencer marketing statistics is essential for any brand looking to succeed in this increasingly competitive space.

Frequently asked questions–Answered with statistics

What is influencer marketing?

Influencer marketing is a form of marketing that focuses on utilizing key individuals (or “influencers”) to drive brand awareness and sales. These influencers are typically individuals who have a large following on social media or other online platforms, and are able to persuade their followers to take specific actions, such as purchasing a product or service.

Influencer marketing has become increasingly popular in recent years, as more and more companies are recognizing the power of social media influencers to reach and engage with their target audience. Influencer marketing statistics are a way to visualize just how the industry is growing and changing.

What is the value of influencer marketing?

One of the key reasons why influencer marketing is so effective (as shown in these influencer marketing statistics) is because it allows companies to tap into the power of word-of-mouth marketing. When an influencer promotes a product or service to their followers, it carries a level of credibility and trust that traditional advertising simply cannot match. This is because people are more likely to trust recommendations from people they know and follow, rather than advertisements from companies.

Another advantage of influencer marketing is that it allows companies to reach their target audience in a more authentic and personal way. Influencers are able to share their own experiences and opinions about a product or service, which can be more relatable and engaging to their followers. This can help build trust and credibility with the audience, and ultimately lead to increased sales and revenue for the company.

Overall, influencer marketing is an effective way for companies to connect with their target audience and drive sales. By partnering with influential individuals who have a large following, companies can leverage the power of word-of-mouth marketing and create authentic and engaging content that resonates with their audience.

How big is the influencer marketing industry?

It is difficult to say exactly how big the influencer marketing industry is, as it is a relatively new and rapidly evolving field. However, it is clear that influencer marketing has become an increasingly important part of the broader digital marketing landscape, and the industry is growing at a rapid pace.

According to a recent study, the influencer marketing industry is estimated to be worth over $10 billion dollars, and is expected to continue to grow in the coming years. This growth is driven by the increasing popularity of social media platforms, and the rise of mobile devices, which have made it easier than ever for influencers to reach and engage with their audience.

Additionally, the growing popularity of influencer marketing has attracted the attention of major brands and advertisers, who are increasingly incorporating influencer marketing into their marketing strategies. In fact, over 80% of marketers have used influencer marketing in their campaigns, and nearly 60% of them believe it to be an effective way to reach their target audience.

Overall, it is clear that the influencer marketing industry is a significant and rapidly growing part of the digital marketing landscape. As the industry continues to evolve and grow, it will be interesting to see how companies and advertisers continue to leverage influencer marketing to connect with their target audience and drive sales.

Is influencer marketing increasing?

Yes, influencer marketing is increasing in popularity and usage. Influencer marketing has become an increasingly important part of the broader digital marketing landscape, and the industry is growing at a rapid pace.

According to a recent study, the influencer marketing industry is estimated to be worth over $10 billion dollars, and is expected to continue to grow in the coming years. This growth is driven by the increasing popularity of social media platforms, and the rise of mobile devices, which have made it easier than ever for influencers to reach and engage with their audience.

Additionally, the growing popularity of influencer marketing has attracted the attention of major brands and advertisers, who are increasingly incorporating influencer marketing into their marketing strategies. In fact, over 80% of marketers have used influencer marketing in their campaigns, and nearly 60% of them believe it to be an effective way to reach their target audience.

Overall, it is clear that influencer marketing is increasing in popularity and usage, and will likely continue to do so in the coming years. As the industry continues to evolve and grow, it will be interesting to see how companies and advertisers continue to leverage influencer marketing to connect with their target audience and drive sales.

What is the projected growth rate of influencer marketing in 2023?

The influencer marketing industry is expected to reach $22.2 billion by 2025.

What are the benefits to influencer marketing?

Influencer marketing can provide numerous benefits to brands. By partnering with influencers who have a dedicated and engaged following, brands can reach a wider audience and increase their visibility. Influencer marketing can also help to build trust and credibility for a brand, as consumers are more likely to trust and purchase from a brand that is endorsed by someone they follow and trust. Additionally, influencer marketing can drive more targeted traffic and leads to a brand’s website or social media accounts. Overall, influencer marketing can be a valuable tool for increasing brand awareness, driving sales, and building trust and credibility.

However, it also has some challenges. According to MediaKix, the challenges are:

What will the future of influencer marketing look like and in 2023?

It is difficult to predict exactly what the future of influencer marketing will look like, as it will likely continue to evolve and change over time. However, some potential trends and developments in the industry include the following:

1. The rise of micro-influencers: Micro-influencers are individuals with smaller, but highly engaged, followings. They often have niche audiences and specialized expertise in a particular area. As a result, they can be highly effective in influencing the purchasing decisions of their followers. In the future, we may see more brands turn to micro-influencers or nano-influencers as a cost-effective and targeted way to reach their audience.
2. The use of AI and automation: Artificial intelligence and automation technologies are becoming increasingly sophisticated and may be used more extensively in influencer marketing in the future. AI may be used in algorithms or can help you identify segments that are likely to become new customers when advertising with the content an influencer creates or when boosting their post.
3. The growth of visual content: Visual content, such as videos and photos, is becoming increasingly important in influencer marketing. In the future, we may see even more emphasis on visual content, as it can be highly effective in capturing the attention of audiences and driving engagement.
4. The rise of regulatory oversight: As influencer marketing continues to grow, it is likely that we will see increased regulatory oversight to ensure transparency and protect consumers. This could include the introduction of new laws and regulations, as well as greater enforcement of existing rules.

Overall, the future of influencer marketing is likely to be characterized by continued growth and innovation across all platforms and content formats, as well as a focus on authenticity, engagement, and transparency.

How effective is influencer marketing?

There are several benefits to influencer marketing for both companies and influencers. Some of the key benefits include:

1. Increased brand awareness: Influencer marketing can help increase brand awareness and reach a wider audience. When an influencer promotes a product or service to their followers, it can help introduce the brand to a new audience, and increase visibility and exposure for the company.
2. Improved credibility and trust: Influencer marketing allows companies to tap into the power of word-of-mouth marketing, which is often considered to be more credible and trustworthy than traditional advertising. When an influencer recommends a product or service to their followers, it carries a level of credibility and trust that advertisements cannot match.
3. Increased engagement and sales: Influencer marketing can help drive engagement and sales for a company. By partnering with influential individuals who have a large and engaged following, companies can create authentic and engaging content that resonates with their target audience, and ultimately leads to increased sales and revenue.
4. Cost-effective: Influencer marketing can be a cost-effective way for companies to connect with their target audience. By partnering with influencers who already have a large following, companies can reach a large audience without having to invest in expensive advertising campaigns.

What are the most popular influencer marketing platforms?

There are many different platforms that brands can use for influencer marketing. Some of the most popular platforms include Instagram posts, YouTube videos, TikTok, and blogs or websites. These platforms allow influencers to share sponsored influencer posts with their followers, and they also provide tools for brands to track the effectiveness of their campaigns.

How many people have social media?

It’s difficult to say exactly how many people have social media, as the number is constantly changing. It may even be different than next year’s influencer marketing statistics blog post. However, according to the most recent data from Statista, there were approximately 3.96 billion social media users worldwide in 2020. This number is expected to continue to grow in the coming years.

Is it worth it to be an influencer?

Whether or not being an influencer is worth it depends on a number of factors, including the amount of time and effort you are willing to put into building and maintaining your online presence, your ability to engage with your audience, and the opportunities for monetization that are available in your niche. For some people, being an influencer can be a great way to earn money, build a personal brand, and connect with others who share their interests. For others, it may not be as rewarding. Ultimately, the decision to become an influencer is up to you and should be based on your individual goals and priorities.

Does influencer marketing last?

Endorsements from an influencer last as long as the post is still available and can be found by those searching. However, influencer marketing is most effective right when someone posts the content to their TikTok, Instagram stories, or other platforms.