Influencer Marketing Platforms Statistics 2024

Influencer Marketing Platforms Statistics 2023: Facts about Influencer Marketing Platforms outlines the context of what’s happening in the tech world.

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Top Influencer Marketing Platforms Statistics 2023
- Influencer Marketing Platforms “Latest” Statistics

Top Influencer Marketing Platforms Statistics 2023

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Influencer Marketing Platforms “Latest” Statistics

According to the State of Influencer Marketing 2020, 66% of marketers want to boost their spending for influencer marketing, which is quickly overtaking organic search, paid search, and email marketing as the fastest growing channel for companies.^[1]
57% of companies in the fashion and beauty industries use influencer marketing industry sectors like fashion and beauty depend significantly on influencer marketing since organic brand development has become increasingly difficult without advertising and amplification.^[1]
Twitter claims that when users saw brand and influencer tweets, their purchase intent increased by 5.2 times, as opposed to only 2.7 times when they saw brand tweets alone.^[1]
78% of women use social media, with Snapchat and Instagram being their preferred platforms.^[1]
57% of businesses now use influencers in their marketing mix, and 21% intend to do so in the next year.^[1]
Influencer marketing costs are increasing significantly, with 19% of businesses expecting to pay an average of and 18% spending between $100,000 to $500,000 on complex programs.^[1]
Only 49% of buyers rely on influencer recommendations as they made an online purchase after viewing it on Twitter, Facebook or Instagram.^[1]
A 2019 report revealed that millennials (57%) and Gen Z (55%) users are more likely to buy the products and services that an influencer recommends if they seem knowledgeable on the product, brand, or industry they are endorsing.^[2]
The top three methods for finding social media influencers, according to marketers, are social search (71%), influencer marketing platforms (43%), and influencer outreach (42%).^[2]
More than 60% of influencers employ unnatural tactics to increase their Instagram following.^[2]
Marketers overwhelmingly cited Instagram as being crucial to their influencer marketing operations (79%), with Facebook coming in second with 46% and YouTube third with 36%.^[2]
Online users between the ages of 13 and 24 claim that endorsements from celebrities they follow and watch are more likely to convince them to make a purchase than advertisements on other social media platforms.^[2]
Influencer marketing has been used by marketers as of 2019 by 27.9% for more than three years and 20.9% for one year or less.^[2]
26% of US internet users claim to follow the advice of young social media celebrities.^[2]
31% of marketers claimed they reuse influencer generated material often, compared to 51% of marketers who said they do it only sometimes.^[2]
68% of firms believe that Instagram is the most significant medium for their influencer marketing this 2021.^[2]
71% of marketers say that compared to other sources, influencer marketing provides them with higher quality traffic and consumers.^[2]
Almost 50% of marketers, the majority of whom are from the US, said that the biggest barrier to influencer marketing is identifying false followers.^[2]
Online users also claim to find new influencers through social media recommendations (53%), suggestions from family and friends (48%), promotions or recommendations of other influencers or celebrities (45), and giveaways or contests (32%).^[2]
83% of businesses continue to deduct their influencer marketing expense from their overall marketing budget, according to Influencer Marketing Hub 2021.^[2]
42% of marketers think influencer marketing offers the highest return on investment when compared to other marketing tactics like paid media commercials, email marketing, and search engine optimization SEO.^[2]
25% of businesses fail to make money, most likely because they don’t properly grasp influencer marketing’s workings and can’t get beyond its obstacles.^[2]
Influencer marketing campaigns outperformed YouTube advertising by 73% in terms of memory encoding and 28% in terms of emotional intensity.^[2]
Micro-influencers often have greater engagement rates on Instagram, with an average of 3.86%.^[2]
89% of marketers claim that Instagram is essential to their influencer marketing approach.^[2]
63% of marketers plan to boost their influencer marketing budgets in 2019, while 17% anticipate maintaining their current levels.^[2]
90% of marketers believe that influencer marketing is a successful method of advertising.^[2]
In 2020, over 10% of marketers want to employ Instagram for influencer marketing efforts.^[2]
89% of marketers claim that influencer marketing produces a ROI that is equivalent to that of other marketing channels.^[2]
According to Influencer Marketing Hub (2021), 36% of firms still choose to compensate influencers with free product samples or discounts on more costly goods as opposed to paying them directly in cash.^[2]
38.5% of firms consider sales and conversions to be the most crucial indicators of the success of influencer marketing programs.^[2]
48% claim that the ROI of influencer marketing is higher than that of other marketing methods.^[2]
89% of marketers want to repurpose content created by influencers for use in emails, display advertisements, and social media.^[2]
According to Influencer Marketing Hub (2021), 56% of marketers use the same influencers for several initiatives.^[2]
Globally, 36% of brands used micro-influencers (those with 1,000 to 100,000 followers), while 30% used celebrities or high-tier influencers (those with more than 100,000 followers to millions) in 2019.^[2]
In 2021, 67.9% of US marketers with 100 or more workers anticipate using influencers for brand relationships.^[2]
72% of marketers believe that the time consuming process of setting up influencer marketing campaigns may be automated.^[2]
A 2019 oracle study found that 86% of US internet users dislike bloggers and influencers.^[2]
According to eMarketer (2019), 42% of US and UK marketers citing phony followers as their top worry in relation to influencer marketing.^[2]
Public relations and marketing experts see improved engagement at a rate of 45% and reach at a rate of 44% as important indicators of influencer marketing ROI.^[2]
According to ThinkNow (2019), just 9% of US internet consumers entirely trust recommendations from social media influencers.^[2]
According to Influencer Marketing Hub (2021), the ecommerce industry accounts for 50.7% of firms using influencer marketing.^[2]
According to eMarketers’ projection, the proportion of marketers employing influencers climbed from 55.4% in 2019 to 62.3% in 2020.^[2]
Influencer marketing is most often used by businesses to 85% improve brand recognition; 71% reach new audiences; and 64% produce sales and conversions.^[2]
According to estimates, there are 1,360 influencer marketing companies and platforms, which is nearly three times as many as there were a few years ago.^[2]
According to Statista, 25% of Instagram users in the US said that a creators recommendation led them to make their purchase.^[3]
86% of influencer marketers regularly use social media platforms’ shoppability capabilities.^[3]
According to GRIN Report: Power of Influencer Marketing in Numbers, consumer surveys revealed that Facebook and Instagram were used by 95% of respondents to make purchases.^[3]
Influencer marketing’s power in numbers according to studies by GRIN, males are more likely than women to spend $500 more when an influencer advertises a product.^[3]
When it comes to trusting influencers, 26% of men and 13% of women seem to have greater levels of confidence in them.^[3]
20% of customers are truly prepared to cease following an influencer if they aren’t honest about sponsorships or advertising.^[4]
34.5% of companies currently pay influencers in cash in an equal ratio while 34.5% of influencers are compensated in product samples.^[4]
39% of consumers claim to find products via expert bloggers’ or vloggers’ internet articles with celebrity endorsements.^[4]
42.3% of respondents said they were more concerned with observable outcomes and preferred sales and conversion metrics to engagement or reach.^[4]
60% of marketers agreed that influencer-generated content outperforms sponsored posts in terms of performance and engagement.^[4]
79% of individuals allow their friends and relatives use social media to influence their shopping choices, according to iScoop.^[4]
LinkedIn reports that there have been 9 billion content impressions, 15 times more than job posts.^[4]
93% of millennials believe that internet evaluations are reliable and are just as credible as recommendations from friends and family.^[4]
70% of firms, according to HubSpot, employ content marketing, this statistic seems a little low. However, it’s conceivable that the gap just indicates that some brands don’t divide their marketing budget across other methods of marketing.^[4]
In a 2021 study by Influencer Marketing Hub, it was found that Black influencers make 35% less compared to white content creators.^[4]
25% of businesses offered discounts on items to influencers, while just 5.9% of brands chose freebies as a form of reward.^[4]
Compared to other entertainment and pop culture micro-influencers, just 31% like Instagram as a less visual specialty.^[4]
In the BigCommerce influencer marketing survey, 89% of participants said that influencer marketing offers a greater return on investment than other types of marketing.^[4]
More than 28% say they’ll devote 30-40% of their marketing budget on influencer marketing.^[4]
79% of companies believe that Instagram is the most crucial channel for their influencer marketing initiatives, making it the network of choice.^[4]
42.3% of companies consider sales and conversions to be the most crucial indicators of the success of an influencer marketing campaign.^[4]
70% of respondents who were asked to explain their motivations for engaging in this sort of marketing acknowledged that being paid was their primary driving force.^[4]
Instagram will continue to be a valuable source of leads in 2022 with 79% of marketers believing it to be a crucial component of their efforts.^[4]
According to 36% of respondents, reading influencer postings is the greatest approach to get others to try new items.^[5]
According to Insider Intelligence, 67.9% of U.S. marketers will use influencer marketing for paid or unpaid campaigns in 2022 and that the industry would hit $3.69 billion in spending in 2021.^[5]
According to Insider Intelligence, 68.1% of influencers’ revenue comes from brand relationships.^[5]
Females continue to dominate influencer marketing with 83% of all transaction volume in 2021, but their share of deal flow is the lowest since our reporting began in 2015, according to IZEA.^[5]
89% of marketers for brands and businesses agree that influencer marketing is successful. s^[6]
39% of Gen Z shoppers claim that what they see on TikTok directly influences their shopping choices.^[7]
According to 62% of TikTok users, platform specific branded content is the best method of reaching consumers.^[7]
7 out of 10 pinners claim that Pinterest is their go to source for finding goods or services they can trust, according to the network itself.^[7]
“#DigitalMarketing” (47%) is the most popular marketing hashtag among #ContentMarketing Tweets, followed by “#SEO” (40%) and “#marketing” (37%).^[7]
52% of social media users, privacy and data protection are very essential and have a big influence.^[7]
TikTok saw the largest increase in planned new platform investment for brands in 2022 (84%) versus YouTube (66%) and Instagram (64%).^[7]
In the most recent influencer benchmark report study, 22% of respondents stated they found this activity challenging, and 56% classified it as somewhat challenging.^[8]
According to a poll by Mediakix, 53% agree and 18% strongly agree with the aforementioned assertion.^[8]
60% of millennials prefer YouTube influencers over established media figures when seeking guidance, according to Variety.^[8]
According to a 2019 influencer marketing global survey, 74% would spend between $1-$629 on purchases recommended by influencers.^[8]
In 2019, 17% of businesses spent more than half of their marketing budgets on influencer marketing, according to a report by Mediakix.^[8]
Nearly 90% of influencer marketing initiatives in 2020 will use Instagram in their marketing mix.^[8]
According to a study by MediaKix, 18% of companies will spend between $100,000 and $500,000 per year solely on influencer campaigns.^[8]
A poll of B2C firms in Europe found that 44% of respondents expected to raise their spending for influencer marketing in 2021.^[9]
84% of the influencers who produced sponsored posts on Instagram were women after reviewing more than three million Instagram posts marked as advertisements.^[9]
According to data on influencer marketing, micro-influencers’ market share increased from 89% in 2020 to 91% in 2021.^[9]
51% of marketers believe that influencer marketing has assisted them in finding better consumers is so encouraging.^[9]
69% of marketers anticipate investing the most funds in Instagram influencer marketing.^[10]
17% of marketers, a tiny but substantial portion, want to devote more than half of their overall marketing budget on influencer marketing in 2020.^[10]
Recent figures from Ryan Robinson’s blog show that 35% of content marketers still have room for improvement, even if 65% of them claim to have a defined content marketing plan in place.^[10]
75% of marketers that employ influencer marketing assess performance using engagement, which is by far the most popular metric.^[10]
Over 90% of marketers believe that the ROI from influencer marketing is on par with or even superior to that of other marketing channels.^[10]
Only 39% of marketers intended to raise their influencer marketing budget in 2018, indicating that brands would spend much more in influencer marketing this year.^[10]
78% of marketers said that Instagram posts were the most successful content type for influencer marketing when asked to name other forms.^[10]
39% of businesses said they had issues identifying individuals to collaborate with while 34% of brands said they have trouble discovering influencers.^[11]
In 2021, 36% of respondents to the State of Influencer Marketing survey said they mostly compensated influencers with free samples.^[11]
51% of marketers believe that using influencer marketing results in greater customer acquisition.^[11]
According to Influencer Marketing Hub, 67% of companies utilize Instagram for influencer marketing.^[11]
Engagement is used by 77% of marketers to gauge the performance of their influencer marketing, with Clicks coming in second at 65%.^[11]
90% of marketers state that they’re most interested in working with Micro-influencers, followed by Macro influencers (72%).^[11]
42% of marketers consider influencer marketing to be one of the top ROI generating strategies given that businesses have witnessed returns of 5.78 for every $1.00 spent on influencer marketing initiatives.^[11]
According to State of Social Survey, Meltwater, 64% of marketers today, they now employ influencer marketing or intend to in 2022.^[11]
Higher Education influencer posts had an engagement rate of 3.96% on Instagram in 2019 — the highest out of 12 main industries.^[11]
According to the State of Influencer Marketing survey, 66% of marketers anticipate raising their spending for influencer marketing in 2020.^[11]
According to a 2021 analysis by Influencer Marketing Hub, 56% of polled marketers said they have collaborated with the same influencer more than once.^[11]
The 2022 Influencer Marketing Hub poll revealed that 72% of marketers agree that influencer marketing produces higher quality clients and a staggering 90% of marketers feel that influencer marketing is successful.^[11]
Micro Instagram influencers enjoy an engagement rate of 3.86% on average, compared to mega influencers’ 1.21%.^[11]
67% of organizations are worried about influencer fraud, however according to Shopify, real complaints of fraudulent influencer activity have dramatically decreased since 2021, from 68% to 38%.^[11]
According to SocialPubli, 96% of marketers think Instagram is the best network for finding influencers.^[11]
When compared to tweets from brands or corporations, Twitter discovered a 5.2% increase in purchase intent for tweets from influencers.^[11]
Marketers anticipate raising their spending for influencer marketing in 2021, according to 71% of them.^[12]
Instagram is the most widely used social media platform for influencer marketing, with 93% of marketers using it.^[12]
According to Linqia (2021), up to 93% of marketing and agency professionals intend to employ routine Instagram posts as a component of their influencer marketing strategy.^[12]
Less than a third influencer marketing has been used by 27.9% of marketers for more than three years. Just a few seven have never used it, while 20.9% have just been using it for a little over a year.^[12]
11% of marketers, up from 9% in 2020, indicate they want to devote at least 40% of their overall marketing budget to influencer marketing.^[12]
More women (89%) than men (83%) in the United States carry out purchases after getting inspired by influencers.^[12]
According to Influencer Marketing Hub, influencer marketing is considered a successful marketing strategy by 90% of marketers.^[12]
According to a market study report, the influencer marketing platform industry would grow at a CAGR of more than 26% between 2019 and 2025.^[13]
By 2022, it’s estimated that 72.5% of marketers plan to increase their influencer marketing budgets over the coming year. Just 5% intend to decrease it, according to Shopify.^[14]
63% of marketers want to boost their influencer marketing spend in 2023 because of influencer marketing’s indisputable worth, which is also causing retailers to pay closer attention to it.^[14]
Spending on YouTube influencer marketing is predicted to have increased from 5.5 billion to 6.6 billion US dollars globally.^[15]
According to Pew Research, 81% of American social media users use YouTube, while 69% claim they use Facebook.^[16]
40% of customers make a purchase after viewing it on an influencer’s social media profile.^[16]
70% of shoppers in the US, Mexico, and Colombia have made a purchase after seeing a product on YouTube.^[16]
More than 1 in 5 (21%) of global social media users between the ages of 16 and 64 years old name following celebrities and influencers as one of their primary reasons for using social media at all.^[16]
Business Wire mentions that people are 2.4 times more likely to view UGC compared to brand content as authentic.^[16]
26.2% of people ignore the inspiration and spend their time on social media looking for things to purchase.^[16]
90% of poll participants from Influencer Marketing Hub said they thought influencer marketing was a successful marketing strategy.^[16]
Influencer Marketing Hub notes that 75% brands they surveyed use influencer marketing, and 43% plan to increase their budgets.^[16]
According to The Shelf, Instagram both encourages and informs customers with of people using the platform to research prior to purchase and 50% of people visiting a website to purchase after seeing a product or service on the app. [16]^[16]
17% of marketing teams do find it challenging to incorporate developing platforms into their efforts.^[16]
54% of Americans believe brands should participate actively in discussions about social concerns.^[16]
67% of companies, down from 80% in 2020, utilize Instagram in their influencer marketing campaigns.^[16]
Finding the ideal influencers for campaigns, according to 75% of marketing teams that responded to the poll, is a major pain issue.^[16]

How Useful is Influencer Marketing Platforms

There is no denying that influencer marketing can be an effective way for companies to reach their target audience in a more authentic and engaging manner than traditional advertising methods. By working with influencers who have a loyal following in specific niches, brands can tap into a ready-made audience that is already interested in the types of products and services they offer. This can go a long way in building brand awareness and driving sales.

One of the key advantages of using influencer marketing platforms is the ease with which brands can find and connect with influencers who align with their values and target audience. These platforms provide a centralized hub where brands can search for influencers based on factors such as follower count, engagement rates, and previous collaborations. This simplifies the process of finding the right influencers to work with and allows brands to quickly scale their influencer marketing efforts.

Additionally, influencer marketing platforms often provide tools and resources to help brands track the success of their campaigns and measure key performance metrics. This data can be invaluable in determining the return on investment of influencer partnerships and optimizing future campaigns for even better results.

However, while influencer marketing platforms offer numerous benefits, they also come with challenges. One of the main drawbacks is the potential for fraud and inauthentic engagement. With influencers frequently caught buying followers or engaging in dishonest practices to boost their popularity, brands run the risk of wasting their marketing budget on partnerships that do not deliver real results.

Furthermore, as more and more brands turn to influencers to promote their products, the market has become oversaturated, making it increasingly difficult for companies to stand out and make a lasting impact. With so many influencers vying for endorsement deals, the value of each individual partnership can be diluted, leading to diminishing returns for brands.

In conclusion, while influencer marketing platforms can be a valuable tool for brands looking to connect with their target audience in a more authentic and engaging way, they are not without their challenges. Brands must carefully consider their goals and audience demographics before diving into influencer marketing, and they must vet influencers thoroughly to ensure they are the right fit for their brand. Ultimately, success in influencer marketing depends on a strategic approach, a deep understanding of the target audience, and a willingness to adapt and iterate based on performance data.

Reference

digitalmarketinginstitute – https://digitalmarketinginstitute.com/blog/20-influencer-marketing-statistics-that-will-surprise-you
financesonline – https://financesonline.com/influencer-marketing-statistics/
grin – https://grin.co/blog/influencer-marketing-statistics/
influencermarketinghub – https://influencermarketinghub.com/influencer-marketing-statistics/
izea – https://izea.com/influencer-marketing-statistics/
nealschaffer – https://nealschaffer.com/influencer-marketing-statistics/
sproutsocial – https://sproutsocial.com/insights/social-media-statistics/
startupbonsai – https://startupbonsai.com/influencer-marketing-statistics/
thesocialshepherd – https://thesocialshepherd.com/blog/influencer-marketing-statistics
bigcommerce – https://www.bigcommerce.com/blog/influencer-marketing-statistics/
meltwater – https://www.meltwater.com/en/blog/influencer-marketing-statistics
oberlo – https://www.oberlo.com/blog/influencer-marketing-statistics
scalefluence – https://www.scalefluence.com/the-future-of-influencer-marketing-platforms-data-is-key-to-success/
shopify – https://www.shopify.com/blog/influencer-marketing-statistics
statista – https://www.statista.com/topics/2496/influence-marketing/
theshelf – https://www.theshelf.com/the-blog/influencer-marketing-stats/

Top Influencer Marketing Platforms Statistics 2023

Influencer Marketing Platforms “Latest” Statistics

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How Useful is Influencer Marketing Platforms

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