12 Influencer Marketing Statistics You Need To Know

Influencer marketing represents one of the most impactful and versatile tools for building your brand and acquiring new customers. And that isn’t just a lofty opinion; the stats don’t lie. Below, we’ve compiled a list of 12 influencer marketing statistics that showcase the extensive capabilities of the strategy:

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1. Influencer Marketing Industry Size Exceeds $21 Billion

The influencer marketing industry reached a value of over $21 billion in 2023, effectively doubling in value since 2019. That growth has created many new opportunities for aspiring and emerging influencers to establish a following and generate revenue. In response, businesses across a wide range of sectors are turning to social media personalities to drive up brand awareness and engagement.

2. Businesses Earn an ROI of 578% on Average

Why have influencer partnerships become so popular in such a short time? To put it simply: because they work. The average return on investment (ROI) for influencer campaigns is $5.78 for every $1 spent, giving them an average return of 578%. 

Top businesses can achieve even better ROIs from their social media personality partnerships, with leading brands experiencing a return of $20 or more, an ROI of 2,000%. If you aren’t engaging in influencer marketing yet, it’s time to start. 

3. Consumers Trust Influencers

Today’s consumers are savvy — they can spot an ad from a mile away, no matter how well you dress it up. While some consumers may be similarly apprehensive about listening to influencers, a growing majority (69%) trust the recommendations of the social media personalities they follow. As such, teaming up with someone whose audience mirrors your own will allow you to borrow their credibility and encourage their followers to buy your products. 

4. Traditional Social Ads Are Becoming Less Effective

Though general social media marketing still works, the kind of reach you’ll achieve with them might be a bit more limited than in years past. Roughly one-third of internet users run an ad blocker “at least sometimes” while online, and some of these apps may limit the visibility of your social media ads. 

Of course, we aren’t suggesting you ditch paid social ads altogether, but you should mix up your marketing strategy to incorporate other types of content alongside them. Influencer collaborations are one of the best additions at your disposal since they’re posted organically and can help your brand navigate around ad blockers. 

5. Video Content Is King

Influencer marketing taps into the most powerful and engaging advertising medium: video marketing. A sizable 87% of marketers say video content directly influences sales, and it’s easy to understand why. Great videos are more engaging and easier to interact with than conventional written content, and they are also influencers’ preferred content medium.

6. Micro-Influencers Have Higher Engagement Rates

If you want your next influencer campaign to succeed, you might think you’ll need to team up with the biggest social media personalities you can find. But that’s not always the right decision. 

While mega-influencers can reach millions of followers, micro-influencers (social media personalities with anywhere between 10,000 and 100,000 followers) have plenty of clout, too. In fact, micro-influencers usually have an engagement rate of about 6% on Instagram, whereas mega-influencers typically see engagement rates of about 1.97%. In other words, working with a micro-influencer can be more cost-effective while also helping you connect with highly engaged audiences. 

7. Around Half of Mega-Influencers Have Been Involved in Fraud

Beyond lower engagement rates, working with mega-influencers can also be dangerous if you aren’t careful. According to Statista, most mega-influencers engaged in fraudulent activities to inflate their engagement data in 2023. While social media personalities with smaller followings may also engage in fraud, the trend is less prevalent among them. 

Regardless of who you team up with, carefully monitor your engagement data and be wary of any unusual activity. 

8. Instagram Is the Leader in Influencer Marketing

Instagram is the most popular social media platform among influencers. As of 2024, 80.8% of influencers use the app to interact with their followers. Facebook remains the second-most popular influencer platform, but TikTok is rapidly gaining ground.

Many influencers are active on multiple social media channels. If you’re searching for new partners, prioritize individuals who use the platforms that align with the interests of your target audience. 

• Read our guide on Instagram influencer marketing.

9. TikTok Is on the Rise 

As mentioned, TikTok is quickly catching up to the likes of Instagram and Facebook in the influencer marketing sphere. Campaigns on the platform surged by 325% in just the last year, making it one of the most popular channels among digital marketers. 

The transition to TikTok illustrates how important video-first platforms are to influencer marketing. While Facebook supports a variety of video formats, Instagram and TikTok prioritize video over static images and written content. 

• Read our guide on TikTok influencer marketing.

10. 75% of B2B Marketers Use Influencers

You may think influencer marketing is reserved for building business-to-consumer (B2C) brands, but that’s not the case. Business-to-business (B2B) organizations reap tremendous benefits through influencer partnerships, too. In fact, three out of four B2B companies were already working with influencers last year, and researchers reported that 93% of those businesses planned to increase their reliance on influencers in 2024.

11. Most Marketers Are Upping Their Influencer Budgets

Savvy marketers are always looking for ways to improve their ROI and get more bang for their advertising buck. Given that influencer marketing appears to be one of the best ways of achieving those goals, it should come as no surprise that many marketers are allocating increasingly large chunks of their budgets to influencer partnerships. 

A 2024 global survey revealed that 22.4% of businesses spend 10 to 20% of their budget on influencer campaigns. And 26% of respondents were found to be spending more than 40% of their budgets on influencers. 

12. Long-Term Partnerships Are Preferred

While many influencer collaborations are one-off campaigns, most individuals and businesses in the space prefer long-term relationships. Approximately 79% of influencers are looking for long-term partnerships with brands. 

As you step into the world of influencer marketing, strive to forge meaningful, mutually beneficial relationships with the people you team up with. The longer someone works with your brand, the more effective they can become at capturing its mission, vision, and values in their messaging. 

Creating High-Quality Videos at Scale

By now, our list of influencer marketing stats should make it clear just how impactful the strategy can be. But if you want your next campaign to exceed expectations, you’ll need lots of great video content. The success of your next influencer marketing campaign hinges on the capabilities of your partners and the quality of your video content. 

QuickFrame can provide captivating video content at scale, setting the stage for impactful campaigns. Whether you need to extend the life of existing content or craft fresh content, QuickFrame has you covered. Our team can assist with everything from initial concepts to video production and editing. 

Contact QuickFrame today to learn more about our video production platform.

Influencer Marketing Statistics: Final Thoughts

The latest influencer marketing stats clearly demonstrate how collaborating with the right people can be one of the most powerful ways to build and extend your brand. By leveraging influencers’ trust, authenticity, and reach, you can enhance your marketing efforts and achieve significant ROI.