Influencer marketing has taken the marketing industry by storm and has shown no signs of slowing down any time soon. With its projected net worth being set at $15 billion by the end of 2022, many brands and marketers are turning to influencer marketing for its ability to produce impressive results, fast.
But just how effective is influencer marketing and what statistics are out there to validate the hype around it? Buckle up as we will be talking influencer statistics in this blog; some of which just might blow you away.
How effective are influencers?
Think about the last time you scrolled through your favourite social media platform, how many of the posts you came across were influencer-created; and more importantly, how many of them were ads? A lot, right?
This alone proves the reach that influencers can stimulate, even when they are not specifically being searched for.
The effectiveness of influencers can also be narrowed down into the following points:
They build trust
They improve brand awareness
They enrich your content strategy
They effectively reach your target audience
You can build potential winning partnerships with them.
Essential Influencer Statistics
Whether you are a brand already well-established in the world of influencer marketing, or a complete novice who still isn’t entirely sure what it is, we have compiled an impressive list of influencer statistics to help you better understand and improve on your influencer marketing journey.
70% of teens trust influencers more than traditional celebrities
According to Google, 4 in 10 millennial subscribers say that their favourite influencer understands them better than their friends. With this fast becoming the consensus among young people, brands will find it increasingly difficult to build the same level of trust with their target audience compared to an influencer. To tackle this, brands use influencers to speak on their behalf and deliver the message they want people to hear.
93% of marketers have used influencer marketing
And this number is only set to increase.
Just 7% of marketers, globally, have yet to implement this strategy as a new way to market their business to potential new customers.
There were 1360 influencer marketing agencies as of 2020
These agencies help identify and connect with suitable influencers for brands and have been quick to capitalise on the rapidly growing demand for influencer-brand partnerships. Between 2019 and 2020, 240 new platforms entered the market.
If you are a brand, take advantage of the extensive choice of influencer marketing agencies on offer and shop around until you find the best fit for you.
Social Media marketing has surpassed print marketing
Where traditional advertising forms, such as magazine spreads, once dominated, they are now giving way to influencer marketing. The return on investment in social media marketing is now far outpacing any traditional medium. A monumental influencer statistic.
42% of customers use ad-blocking technology
Following closely behind the previous point, this influencer statistic is one of the ones we warned would be mind blowing.
Consumers are tired of being hammered with pop ups and banners, with 37% of laptop users and 15% of mobile users in the US enabling some sort of ad-blocking technology. But never fear, influencers are here to fill the gap. Advertising power is now shifting.
It’s a micro-influencer’s world…
It is no secret that micro influencers are taking over social media, and rightfully so. Their high engagement rates and authenticity put them at the forefront as trustworthy recommenders from a consumer’s perspective. Here are the top micro influencer statistics to solidify their positioning in the influencer marketing world.
Brands utilise micro influencers 10x more than mega influencers
In 2019, brands used micro influencers 10 times more often than mega influencers, compared to only 3 times more in 2016.
This highlights the shift in influencer trends within the industry over the years due to brands seeing the greater benefits of spreading their budget across several smaller influencers who are guaranteed to produce results; as opposed to dumping it all on one influencer with uncertainty.
If you want to make the most of your influencer marketing budget, consider partnering with one (or multiple) micro influencers.
Micro influencers are on the rise
Going hand in hand with the aforementioned influencer statistic, micro influencers have grown from 89% in 2020 to 91% in 2021.
Nano influencers have the highest engagement rate
Proudly representing the micro influencer, nano influencers have an impressive engagement rate of 5%, on average. This is considerably higher than their mega influencer counterparts and often places them on a pedestal for driving sales, increasing reach and promoting brand awareness.
The world’s beloved platform: Instagram
Delving into influencer statistics would not be complete without a nod to Instagram influencer statistics. Instagram has fast become one of the most important platforms for influencer marketing and here’s why:
87% of users took action after seeing a product on Instagram
With 8 out of 10 consumers typically purchasing something after seeing it recommended by an influencer, it is no wonder this number is incredibly high. This purchase decision was led up to through the actions taken by the consumer first, such as following the brand’s social page or checking out their website.
Fashion is the focus of 25% of sponsored posts on Instagram
25% of all sponsored posts on Instagram are fashion-related; making this the platform’s leading topic for brand partnerships.
Influencer Statistics Round Up
Not only d these influencer statistics show you why influencer marketing is a powerful and effective strategy to use, but it also highlights which platforms and influencer types to utilise to reach your target audience.
Remember, you don’t need a huge budget to work with influencers. It’s all about creating a campaign that resonates and choosing the right influencers to work with.
What percentage of companies use influencers?
According to Oberlo, 93% of companies utilise some form of influencer marketing.
How effective are influencers?
Influencers are incredibly effective when it comes to increasing brand awareness, driving sales, building trust and reaching your target audience.
What is the success rate of influencer marketing?
The success rate of influencer marketing can only be determined by those running the campaign. Setting goals ahead of launching the campaign and tracking them to see whether you are on target is what will consider it to be successful.
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