Influencer Marketing Statistics By Market Size And AI Impact

Introduction

Influencer Marketing Statistics: Influencer marketing is a strategy where different brands work with people who have a lot of followers on social media to promote their products or services. These people, called influencers, use platforms like Instagram, TikTok, YouTube, and Facebook to create content that their followers like.

The effective benefit of influencer marketing is that it helps brands reach a specific audience in a real and engaging way, which builds more trust between the brand and its customers. Social media has made influencer marketing one of the best ways for brands to connect with consumers, making it a strong tool in today’s digital marketing world.

Editor’s Choice

• Influencer Marketing Statistics show that this industry is estimated to reach around USD 24 billion by 2024.
• 93% of marketers include influencer marketing in their brand plans to help promote their products and reach people.
• Similarly, nearly 75% of people say they now create and share more content than
  before.
• Around 63% of brands plan to use AI to help run their influencer campaigns, and 55% of these brands will use AI to find the right influencers.
• On the other hand, 25% of people plan to spend over 40% of their marketing budget on influencer campaigns.
• Meanwhile, almost 60% of people who set aside money for influencer marketing plan to spend more on it in 2024.
• Influencer marketing is an effective form of marketing, as claimed by 85% of survey respondents.
• Influencer Marketing Statistics further state that brands prefer working with small influencers (nano 44%, micro 26%) over expensive macro-influencers (17%) and celebrities (13%).
• TikTok is the top influencer platform, used by 69% of brands, ahead of Instagram (47%), YouTube (33%), and Facebook (28%).
• The main goal of influencer campaigns is to create User-Generated Content (56%) while increasing sales (23%) is second.
• Small businesses will likely spend between USD 5,000 and USD 10,000 on each influencer marketing campaign in 2024.
• The biggest concern in this market is influencer fraud, resulting in around 15% of influencer accounts being fake or involved in cheating.

General Influencer Marketing Statistics

• In 2024, almost 57.5% of marketers used third-party platforms to help with influencer marketing, a drop from 60.3% in 2023.
• Most people (54.3%) say they measure the success of influencer marketing campaigns by examining views, reach, or impressions as the main indicators of performance.
• Moreover, engagement (23.5%) and conversions/sales (22.1%) are the other measures of marketing influencer success rates.
• As of 2024, 41.4% consider finding appropriate influencers, “medium” being the largest category.
• In contrast, 37.7% of influencer marketing brands find it easy, and 21% find it difficult.
• More than half of the brands that work with influencers have online stores where they sell their products, making eCommerce a common business model.

(Source: 99firms.s3.us-west-1.amazonaws.com)

• Even though videos get the most engagement, nearly half of marketers (49.7%) prefer to use a detailed post instead of a photo of the product. This is followed by an explanatory post (20.3%), interactive posts such as polls (19.9%), and product pictures (10.1%).
• Influencer Marketing Statistics mentioned that over 60% of marketers want influencers to create content showing them using the product.
• There is one mega-influencer for every ten micro-influencers.
• Micro-influencer campaigns have 60% more engagement than regular campaigns.

Influencer Marketing Market Size Statistics

(Reference: statista.com)

• According to Influencer Marketing Hub, the influencer marketing sector will reach USD 24 billion by the end of 2024, an increase from USD 21.1 billion in 2023.
• Conversely, influencer marketing grew from USD 1.7 billion in 2016 to around USD 16.4 billion in 2022.

The Most Used Social Media Channels By Influencer Marketing Brands

• 68.8% of marketers use influencer marketing and state TikTok as one of the main channels they focus on in 2024.
• Influencer Marketing Statistics further state that almost half, around 46.7% of brands, choose Instagram when they decide to use influencer marketing for their campaigns.
• Furthermore, other commonly used channels are represented as Facebook (27.5%), YouTube (33.1%), X/Twitter (9.9%), LinkedIn (9.6%), Twitch (7.9%), and others (14.7%).

TikTok Marketing Statistics

• In 2024, TikTok is expected to account for 35% of global influencer marketing spending, a rapid growth rate.
• TikTok has over 1.1 billion active users every month, making it a top platform for influencer marketing.
• Influencers on TikTok have an average engagement rate of 6%, which is higher than Instagram (3%) and YouTube (1.5%).
• Brands are predicted to spend USD 10.8 billion on TikTok influencer marketing campaigns in 2024.
• According to Influencer Marketing Statistics, nearly 62% of TikTok users discover new products through content made by influencers on the platform.
• TikTok influencer campaigns have a five times higher conversion rate compared to traditional digital ads.
• In the same year, around 70% of marketers working with influencers plan to increase their TikTok marketing budgets.
• Around 40% of TikTok’s audience is between 18 and 24 years old, making it a great platform for reaching young people, especially Gen Z.
• In the same duration, TikTok influencers with 100,000 to 500,000 followers can charge USD 500 to 5,000 for each sponsored post.
• 58% of TikTok users trust product recommendations from influencers they follow.

Instagram Marketing Statistics

• Instagram continues to dominate the influencer marketing industry, making up 67% of all influencer marketing spending in 2024.
• The platform has more than 2.35 billion monthly active users, giving brands a massive audience for influencer campaigns.
• Influencers on Instagram have an average engagement rate of 3%, which is strong compared to other platforms like YouTube (1.5%) but lower than TikTok (6%).
• Brands are expected to spend USD 15.5 billion on Instagram influencer marketing by 2024.
• 80% of Instagram users say they have purchased a product or service based on something they saw in an influencer’s post.
• Around 75% of marketers rank Instagram as their top platform for influencer marketing campaigns.
• Stories and Reels are the most popular content formats, with Reels showing a 22% higher engagement rate compared to standard posts.
• Instagram influencers with 500,000 to 1 million followers can charge USD 5,000 to 10,000 per sponsored post.
• 60% of Instagram users prefer video content over static images, making video a key part of influencer strategies.
• 70% of Instagram influencer marketing campaigns focus on lifestyle, beauty, and fashion brands.

Facebook Marketing Statistics

• Facebook will account for 22% of global influencer marketing spending in 2024, making it a key platform for marketers.
• With over 2.9 billion monthly active users, Facebook remains one of the largest social platforms for influencer marketing campaigns.
• Facebook influencers have an average engagement rate of 2.5%, which is lower than TikTok but higher than many other social networks.
• To date, brands have invested around USD 8 billion in Facebook influencer marketing campaigns.
• Influencer Marketing Statistics reports that 54% of Facebook users say they learn about new products and services through influencer content.
• 72% of marketers working with influencers use Facebook as part of their strategy in 2024.
• Facebook video content, especially live streams, leads to 3x higher engagement rates compared to static posts.
• Influencers on Facebook with 100,000 to 500,000 followers typically charge between USD 1,000 and 6,000 per sponsored post.
• 40% of Facebook’s audience is aged 25 to 34, making it an important platform for reaching millennials.
• Influencer marketing on Facebook results in a 4x higher conversion rate than traditional display ads.

YouTube Marketing Statistics

• Influencer Marketing Statistics show that around 80% of YouTube influencers believe that the engagement rate is more important than the number of views when working with brands.
• 90% of people say they have found new products and brands through YouTube.
• In the U.S., there are about 385,000 YouTube influencers.
• Most YouTube influencers have between 10,000 and 50,000 subscribers.
• 33% of brands use YouTube for influencer marketing.
• Over 169 billion views on YouTube influencer channels come from beauty-related content.
• The most common content YouTube influencers create is product reviews.
• YouTube influencers with over 1 million subscribers can make nearly USD 60,000 per year from ads.
• 60% of YouTube subscribers say they trust buying advice from their favorite YouTube influencers more than from celebrities.

Highest Influencer Marketing Statistics By Engagement Rate

(Source: cdn.shopify.com)

Consumers Purchased Item After Seeing It On Social Media 2023, By Country

(Reference: statista.com)

• In 2023, about 58% of U.S. shoppers said they bought something they saw on social media.
• In Australia, 54% of people purchase after seeing a product on social media, and in the United Kingdom, up to 44%.
• Share of shoppers that purchased a product after seeing it on social media in other countries are stated as Greece (43%), Spain (42%), Portugal (41%), New Zealand (41%), Germany (40%), Italy (39%), Norway (38%), France (37%), Sweden (35%), Poland (34%), Netherlands (32%), Austria (32%), Finland (29%), Czech Republic (28%).

Influencer Marketing Budget Allocation Statistics

(Reference: influencermarketinghub.com)

• Influencer Marketing Statistics show that around 59.4% of people spend money on influencer marketing plans to increase their budget in the next 12 months.
• Besides, 22.1% of marketers plan to keep their influencer marketing budgets the same in 2024.
• An additional 9.3% said they were curious if their influencer marketing budgets would change.
• Similarly, only 9.3% plan to reduce their influencer marketing budgets.

Share Of Marketing Budgets Spent On Influencer Marketing

(Reference: statista.com)

• A Statista survey analysis in February 2024 shows that 22.4% of marketing agencies and brands said they spent 10% to 20% of their marketing budget on influencer marketing.
• Another 26% of businesses spend over 40% of their budget on this kind of digital marketing activity.
• Furthermore, in the same period, the share of marketing budgets spent on influencer marketing worldwide was less than 10% (26.1%), 20 to 30% (15.8%) and 30 to 405 (11.5%).

Influencer Marketing Advertising Statistics

(Reference: statista.com)

• According to Influencer Marketing Statistics, global spending on influencer marketing reached USD 30.81 billion in 2023 and will increase to USD 35.09 billion by the end of 2024.
• The market will grow at a rate of 9.91% each year from 2024 to 2029, reaching a value of USD 56.28 billion by 2029.
• In the financial year, the average amount spent on influencer ads for each internet user will be around USD 6.16.
• China will account for the highest ad spending in the world, reaching USD 19.16 billion in 2024.

Influencer Marketing Expenditure In The U.S

(Reference: statista.com)

• In 2023, around USD 6.16 billion was spent on influencer marketing in the United States of America, an increase from USD 4.99 billion in 2022.
• By the end of 2024, American influencer marketing spending will account for USD 7.14 billion.

Influencer Marketing Brands Spending Statistics

(Reference: influencermarketinghub.com)

• In 2024, around 47.4% of brands spend less than $10,000 yearly on influencer marketing, up from 43% last year.
• Around 20.9% of companies spent between USD 10K and USD 50K on influencer marketing, a decrease from last year’s 22%.
• Influencer Marketing Statistics 2024 also reported that an additional 8.9% of businesses spent between USD 50,000 and 100,000 on influencer marketing, which is lower than in 2023, when 14% of businesses spent this amount.
• In 2024, 8.3% of companies spend around 100K to 500K, down from 10%.
• A larger 14.5% spent over USD 500K, up from 11% last year, nearly four times more than last year.

Firms Value Working with Influencers

(Source: influencermarketinghub.com)

• According to Influencer Marketing Statistics, in 2024, the majority of respondents, around 63.2%, claimed they used the same influencers.
• Similarly, 61% of respondents in 2023 and 57% in 2022 used the same influencers.
• Meanwhile, 36.8% in 2024 (down from 39% last year and 43% in 2022) used other influencers or had only one campaign.

Influencer Marketing Statistics By Top Leading Agencies 2024

Artificial Intelligence (AI) And Machine Language (ML) Usage Statistics In Influencer Campaigns

• Influencer Marketing Statistics in 2024 show that almost 63% of respondents said that using AI and ML has become an effective criterion for identifying influencers and creating effective campaigns.
• In the same duration, along with 27.1% who were unsure, only 9.9% answered clearly no to the question, saying they would not use AI and ML.

The Main Purpose Of AI And ML Usage

• In 2024, 55.8% of those using social media data analytics used AI and ML to identify the most effective influencers for a particular brand or campaign.
• The second most common use of AI in influencer marketing is finding and sharing relevant content (18.6%).
• Interestingly, 5.7% of respondents plan to use AI to spot fake influencers and fake engagement, similar to last year.

How Does AI Impact Influencer Marketing?

(Reference: cdn.shopify.com)

• Influencer Marketing Statistics for 2024 show that around 71% of marketers want AI to help them choose the best influencers for their campaigns.
• Other AI impacts of influencer marketing include performance analysis (65.45%), streamlined workflows ( 47.27%), writing creative briefs (47.27%), and repurposing content (41.82%).

Influencer Marketing Industry Statistics

(Reference: 99firms.s3.us-west-1.amazonaws.com)

• Influencer Marketing Statistics in 2024 state that the top three most developed sectors in the influencer marketing space are fashion (81.4%), Beauty (76.6%), and Lifestyle (59.2%).
• However, the three least developed sectors are economy and finance (52.7%), culture (38%), and education (34.9%).
• Others followed by others during the same duration: travel (55.1%), food (41.9%), sports (32.3%), video games (32.3%), technology (31.7%), marketing (30.5%), family (25.1%), home and decor (24.5%), and auto (10.1%).

The Popular Fashion Niches For Influencer Marketing

(Reference: mydmi.imgix.net)

• In 2023, Zara retained its leadership position in influencer marketing with around 505,055 mentions.
• The Chinese brand SheIn, which has been controversial, was mentioned 358,774 times and took second place.
• H&M is still a popular brand with influencers, getting a total of 322,469 mentions.
• Other most popular fashion niches for influencer marketing by mentioned times are NA-KD Fashion (157,498), Pretty LittleThing (139,277), ASOS (132,735), Mango (114,219), Primark (105,974).

Types Of Influencers Preffered By Brands

(Reference: influencermarketinghub.com)

• Influencer Marketing Statistics also show that in 2024, almost 44% of brands are choosing nano-influencers (1K to 10K followers) as partners, up 39% from last year.
• Similarly, at the same time, only 25.7% of brands now choose micro-influencers (10K to 100K followers), which is lower than the previous 30%.
• In 2024, fewer brands now focus on larger influencers, with only 17.4% choosing macro-influencers (100K to 1M), down from 19% in 2023.
• The percentage of mega or celebrity influencers increased slightly to 12.9% in 2024, up from 12% the previous year.

Influencer Marketing Statistics By Ways To Pay Influencers

• Around 40.8% of brands offer money, and 30.8% give free product samples to influencers.
• 18.9% of brands give influencers discounts on their products and services, especially for more expensive items.
• A smaller 9.4% of brands offer influencers entry into giveaways as a way of payment for their collaboration.

The table below illustrates the popular way to share a comparison between 2023 and 2024:

Effective Ways To Attract Sales Statistics

• Influencer Marketing Statistics reports that 29.9% of people used email addresses as their most common method, with referral links being the second most popular method used by 28.4% of people.
• Furthermore, coupon codes (14.7%), product SKUs (4.2%), and others (21%) are other popular ways to attract sales share.

By Influencer Payment System

(Reference: influencermarketinghub.com)

• In the year 2023, the most common way to pay influencers (53%) was a flat rate.
• Around 42% of some brands paid a percentage of sales, similar to affiliate marketing.
• Less common methods were product-based payments (19.6%) and tiered incentives (6.9%).
• As of 2024, payment system statistics in influencer marketing are stated as flat rate (24.1%), sales share (49.6%), product level payments (19%), and tier incentives (7.3%).

The Popular Use Of Influencer Platforms

(Source: influencermarketinghub.com)

• Influencer Marketing Statistics further states that the most popular use of influencer platforms is at 47.9% in 2024, a slight drop from last year’s 54%.
• Furthermore, other common uses of influencer platforms include automating campaigns automation and reporting (35.6%), paying influencers (34.5%), analyzing fake followers and fraud (27.8%), amplifying paid content (24.2%), and tracking conversions (23.2%).

Primary Factors For Influencer Evaluation

• In 20254, almost 32.9% of people think views, reach, and impressions are the most important, a drop from 35% last year.

In addition, other factors comparison for influencer evaluation are stated below:

The ROI Of Influencer Marketing Statistics

• Influencer marketing gives an average return of USD 5.78 for every USD 1 spent, making it one of the best digital marketing methods.
• 89% of marketers believe the return on investment (ROI) from influencer marketing will be equal to or better than other marketing methods in 2024.
• Micro-influencers, with 10,000 to 50,000 followers, provide a higher ROI than famous influencers, with an engagement rate of about 3.86%.
• Brands that use influencer marketing see 11x higher ROI compared to regular digital advertising.
• 62% of marketers plan to increase their budgets for influencer marketing because of the high returns they get.
• Influencer campaigns on video platforms like TikTok and YouTube bring in 5x higher ROI compared to platforms that use static content.
• In 2024, 54% of marketers will use ROI as the main measure of the success of their influencer campaign.
• 70% of businesses see positive ROI within six months of starting influencer marketing campaigns.

What Drives Influencer Marketing ROI?

(Source: cdn.shopify.com)

The Most Popular Way To Measure Influencer Success

(Reference: cdn.shopify.com)

• Only 68.85% of marketers think engagement rate is a way to measure success when evaluating their campaigns’ return on investment (ROI).
• Furthermore, other measures of success for influencer marketing programs are reach (53.28%), brand lift/share of voice (43.44%), conversion (34.43%), traffic (32.79%), sales (30.33%), the quality of the influencer (21.31%), increase in followers (14.75%), products added to cart (11.48%), and other (3.28%).

The Top 5 Influencer Marketing Challenges, 2024

• Measuring ROI (Return on Investment):
  78% of marketers have a hard time figuring out the exact return on investment (ROI) from influencer marketing campaigns.
• Finding the Right Influencers:
  67% of marketers find it difficult to choose influencers who match their brand’s values and reach
  the right audience.
• Fake Followers and Influencer Fraud:
  About 15% of influencer accounts are involved in fraud, such as using fake followers or engagement to appear more popular.
• Keeping up with Platform Changes:
  62% of marketers find it hard to stay updated with constant changes in algorithms and features on platforms like Instagram, TikTok, and YouTube.
• Budgeting and Resource Allocation:
  55% of brands find it hard to set enough money aside for influencer marketing, especially because the cost of working with influencers keeps going up.

Statistics On Consumer Behavior Towards Influencer Marketing

• 61% of consumers trust influencer recommendations more than brand advertisements.
• 58% of people say they have made a purchase based on an influencer’s recommendation in 2024.
• Consumers are four times more likely to purchase when an influencer they follow endorses a product than when traditional ads do.
• 43% of Gen Z and millennials follow at least one influencer whose recommendations influence their purchasing decisions.
• 54% of consumers prefer influencers who share authentic, personal stories over polished or scripted content.
• 35% of consumers are more likely to buy from a brand after seeing influencer content multiple times on social media.
• 29% of consumers are wary of influencers who promote too many products, finding them less trustworthy.

Conclusion

In 2024, influencer marketing has become a strong tool for brands, helping them get more engagement, better brand awareness, and higher returns compared to traditional marketing. Platforms like TikTok, Instagram, and Facebook are important for reaching different audiences, especially younger people.

However, marketers still face problems like measuring ROI, finding the right influencers, and handling fake followers. Even with these challenges, the industry is expected to grow as more brands plan to increase their influencer marketing budgets.

Maitrayee Dey

Maitrayee, after completing her graduation in Electrical Engineering, transitioned into the world of writing following a series of technical roles. She specializes in technology and Artificial Intelligence, bringing her experience as an Academic Research Analyst and Freelance Writer, with a focus on education and healthcare under the Australian system. From an early age, writing and painting have been her passions, leading her to pursue a full-time career in writing. In addition to her professional endeavors, Maitrayee also manages a YouTube channel dedicated to cooking.

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