Influencer marketing is a powerful way to tap into the power of word-of-mouth and scale it through social media. It has quickly become a go-to marketing strategy for many businesses in 2023. If you still need to include it in your strategy, it’s time to take a second look. Here, we have compiled 31 statistics to better understand the influencer landscape and the platforms that get the most traction in this space. Let’s dive in.
The Influencer Marketing Landscape
- The U.S. influencer market was worth an estimated $16.4 billion in 2022, and is expected to continue growing in 2023.
- 1 out of 4 marketers utilize influencer marketing.
- 72% of Gen Z and Millennials are followers of influencers on social media.
- 89% of marketers engaging with influencer marketing will increase or sustain their investment in 2023.
- In 2023, 17% of marketers will be investing in influencer marketing for the first time.
- 38% of marketers in 2022 reported that their primary goal for influencer marketing was to generate sales.
Influencer Marketing Effectiveness
- 50% of Millennials have faith in product recommendations from influencers, compared to only 38% from celebrities.
- 92% of marketers believe that influencer marketing is effective.
- 33% of Gen Zers have purchased at least one product recommended by an influencer in the last three months.
Micro-Influencer Stats
- Micro-influencers can generate up to 60% more engagement than macro-influencers.
- 44% of marketers state cost-effectiveness is one of the main benefits of working with micro-influencers.
- 56% of marketers engaging with influencer marketing collaborate with micro-influencers.
Influencer Marketing on Instagram
- In 2022, Instagram was the most commonly used influencer marketing platform in the United States.
- 14. 72% of marketers used Instagram to run influencer campaigns in 2022. This number is expected to increase by 4.1% in 2023.
- In 2021, there were 3.8 million posts tagged with #ad on Instagram.
- In 2021, lifestyle and beauty were the most popular categories among global Instagram influencers.
- In 2021, 86% of marketers in the United States enabled shop functions in their influencer marketing campaigns on Instagram.
Influencer Marketing on TikTok
- 45% of marketers utilized TikTok for influencer marketing campaigns in 2022. This number is expected to increase by 4% in 2023.
- On average, a TikTok influencer (100,000 to 1 million followers) receives 38,517 views.
Influencer Marketing on YouTube
- 20. 28% of consumers from the United States have reported that they follow at least one virtual influencer on YouTube.
- Popular categories for YouTube influencers in 2021 were dance, music, and gaming.
- YouTube influencers (100,000 to 1 million followers) have the highest engagement rates on the platform.
- In 2021, YouTube was the most popular platform used by users in the United States and Great Britain to watch gaming influencers.
Influencer Marketing on Facebook
- 52% of marketers utilized Facebook for influencer marketing campaigns in 2022.
- In 2022, influencer videos accounted for 60% of video views on Facebook in the United States.
Influencer Marketing Budgets
- In 2022, 39% of marketers allocated 10% to 20% of their marketing budget to influencer marketing.
- On average, businesses make $6.50 in revenue for every $1 invested in influencer marketing.
- In 2022, influencer marketing spending climbed from 3.69 billion to 4.14 billion in the U.S.
- In 2021, the average price per post from a TikTok mega-influencer (1+ million followers) was approximately $1,034.
- In 2021, the minimum cost per post from an Instagram mega-influencer (1+ million followers) was $1,200.
- In 2021, the minimum price for a sponsored video from a YouTube mega-influencer (1+ million followers) was at least $2,500.
Wrapping Up – Conclusion
We hope this collection of data gives you a better understanding of the influencer marketing landscape in 2023 and an insight into the platforms that can help your influencer campaigns reach new heights.
