Social Media Management & Marketing

8 Influencer Marketing Statistics Businesses Need to Know

As influencer marketing becomes more popular, businesses need to be aware of the current statistics surrounding this field. By understanding these statistics, businesses can make more informed decisions about their influencer marketing campaigns.

influencer marketing statistics

You can tap into the power of influencers to market your business and increase word-of-mouth marketing. The biggest selling point for influencer marketing is its potential to reach new audiences. So looking into influencer marketing statistics can help you understand how influencers can benefit your business.

If you’re thinking about using influencers to market your business, it’s important to understand the current landscape of influencer marketing. Influencer marketing statistics have a tendency to change rapidly, but these ten influencer marketing statistics will give you a good overview of the industry and help you make informed decisions about your influencer marketing strategy.

Why is influencer marketing important?

Ever heard of the idea that it takes 20 years to build a reputation and five minutes to ruin it? In the age of social media, that time frame has shrunk even further. A single influencer can make or break a brand in the eyes of potential customers.

This is why influencer marketing is so important. Influencer marketing is a form of marketing that focuses on using key opinion leaders to drive your brand’s message to a larger audience. It’s a strategy that can be used to build brand awareness, create buzz around a new product launch, or even increase website traffic and sales.

With influencer marketing, you can reach your target audience in a more authentic and relatable way. And when done correctly, influencer marketing can be an extremely effective tool for growing your business.

8 influencer marketing statistics you should look into

As mentioned earlier, influencer marketing is a tool that can be utilized by businesses in order to boost brand awareness or drive sales. It’s a growing industry, with more and more businesses turning to influencers to promote their products or services. Understanding influencer marketing statistics can be the key to success when planning influencer marketing campaigns.

We’ve rounded up 8 of the most important influencer marketing statistics businesses need to know in order to create successful influencer marketing campaigns.

1. There are expected to be 4.59 billion social media users worldwide.

According to Statista, that number is only going to grow in the coming years. With such a large portion of the world’s population using social media, it’s no wonder that influencer marketing has become such a popular tool for businesses.

Since mobile and internet possibilities for users are continually improving, social media influencers have more opportunities to grow their audiences. This, in turn, creates more opportunities for businesses to reach their target consumers through influencer marketing.

2. Influencer marketing helps brands acquire better customers.

Influencer marketing is not only a great way to reach a wider audience, but it’s also a great way to acquire better customers. In fact, 51% of marketers say influencer marketing helps them acquire better customers.

This is likely due to the fact that influencer marketing allows brands to target a specific audience and reach them in a way that is authentic and relatable. As a result, the customers that are acquired through influencer marketing tend to be more engaged and more loyal than those who are reached through other marketing channels.

3. The influencer marketing industry is worth $13.8 billion.

Data from Statista stated that influencer marketing was worth $13.8 billion in 2020 and is expected to grow to $22.9 billion by the end of 2025. This not only proves that influencer marketing is here to stay but that it is also an industry with a lot of potential for growth.

As influencer marketing becomes more popular, businesses are willing to invest more money into influencer marketing campaigns. This is due to the fact that influencer marketing has been proven to be an effective marketing strategy.

4. Gen Z is most influenced by social media influencers.

It should come as no surprise that social media influencers have a lot of influence over Gen Z, given that this generation is the most active on social media. In fact, according to Business Insider, 43% of Gen Zers say they are influenced by social media influencers when it comes to making purchasing decisions.

This is higher than any other demographic, which just goes to show the power that social media influencers have over this generation. If you’re looking to target Gen Zers with your influencer marketing campaign, then working with social media influencers is a great way to do it.

5. Micro-influencers have the most engaged audiences.

While social media influencers with millions of followers may seem like the best option for your influencer marketing campaign, you may actually get more bang for your buck by working with a micro-influencer.

Micro-influencers are defined as influencers with between 1,000 and 100,000 followers. They typically have very engaged audiences, who are more likely to take action after seeing a post from the influencer. Plus they usually charge less than bigger influencers, which can save you money while still getting great results from your influencer marketing campaign.

6. TikTok has the highest influencer engagement rate.

When it comes to influencer engagement rate, TikTok comes out on top. But of course, there are pros and cons to TikTok marketing despite influencers on TikTok having an average engagement rate of 8.5%, which is significantly higher than influencer engagement rates on other social media platforms.

This just goes to show that if you’re looking to reach a wider audience with your influencer marketing campaign, then TikTok should definitely be one of the platforms you consider.

7. The fashion industry is the most active when it comes to influencer marketing.

Influencer marketing is popular in a variety of industries, but the fashion industry is by far the most active when it comes to influencer marketing. This is likely due to the fact that fashion is an industry that is heavily reliant on visuals. By working with influencers, fashion brands are able to reach a wider audience and show off their products in a way that is visually appealing.

8. Influencer marketing ROI is 11x greater than banner ads.

One of the main reasons businesses are drawn to influencer marketing is because it tends to have a high ROI. In fact, influencer marketing ROI is 11 times higher than banner ads. This just goes to show that influencer marketing is a great way to reach your target audience and see a good return on your investment

These are just a few of the influencer marketing statistics you should look into before launching your next influencer marketing campaign. By understanding the landscape of influencer marketing, you can better tailor your campaign to achieve your desired results.

What does it mean to use influence over word of mouth?

Influencers have always been important in shaping public opinion. But in the age of social media, influencers can have an even greater impact on word-of-mouth marketing.

Word of mouth is one of the most powerful marketing tools available to businesses. It’s estimated that 92% of people trust recommendations from friends and family more than any other form of advertising.

Influencers are like friends and family on steroids. They have the ability to reach a large number of people with their recommendations, which carry a lot of weight. This is why working with influencers can be such a powerful marketing tool.

When done correctly, influencer marketing can help you reach a larger audience, build brand awareness, and even increase sales. But of course, all this comes with time and just the right amount of risk-taking.

Key takeaways

Influencer marketing is not without its challenges. It can be difficult to find influencers who are a good fit for your brand, and even harder to get them to promote your products or services. But nevertheless, looking into influencer marketing statistics is the first step in the right direction for your business.

  • Conduct research on current influencer marketing statistics. Since these do change over time, it’s important that you’re up-to-date on the most recent information. You’ll never know what may help you better tailor your influencer marketing campaigns in the future.
  • Consider influencer marketing as a way to reach a wider audience and acquire better customers. Influencer marketing allows brands to target a specific audience and reach them in a way that is authentic and relatable. This form of marketing can result in more engaged and loyal customers.
  • Don’t give up if you don’t see results right away – keep working at it and refining your strategy. Understand that influencer marketing may have its limits. It’s difficult to track and measure influencer marketing campaigns, so you may not see the immediate results that you’re hoping for.

If you’re thinking about starting an influencer marketing campaign, these statistics can give you a good starting point. Keep these in mind as you plan your campaign and you’ll be on your way to success.

If you have any other questions, send us a message via our Facebook, Twitter, and LinkedIn accounts. Let’s chat!

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