33 Relevant Influencer Marketing Statistics & Facts for 2024

The explosion of social media has led to influencer marketing’s popularity, and the following influencer marketing statistics prove that. Digital influencers have a solid online presence and use it to motivate consumers’ opinions and behaviors. Millions of people trust influencers, so a lot of marketers pay them to reach a larger audience.  

This influencer marketing trend won’t be going away any time soon. So if you’re planning to hire an influencer, launch an influencer campaign, or be an influencer yourself, this article is a must-read. But first, let’s take a quick look at the most important stats to know in 2021. 

Fascinating Influencer Marketing Statistics for 2024

  • The influencer marketing industry will be worth $13.8 billion in 2021
  • Businesses earn $5.20 for every dollar spent on influencer marketing campaigns.
  • Influencer marketing is now bigger than print advertising.
  • 56% of the US and UK marketers work with micro-influencers on Instagram because they’re more cost-effective than top-tier talent.
  • Instagram was involved in 96% of all influencer marketing campaigns in 2020.
  • As much as 78% of marketers prefer using Instagram Posts to other content formats. 
  • In 2021, Instagram’s dominance over other platforms reduced to 68% due to TikTok.
  • Influencer marketing’s global spend is expected to rise as the benefits become more and more clear.
  • Brands will spend up to $15 billion on influencer marketing by 2022. 

How Big Is Influencer Marketing?

The advertising industry will always be big because companies and brands will consistently want to find new customers. With businesses spending less on traditional advertising favoring influencer marketing, that money has to be going somewhere, right? The influencer marketing market size has continued to increase, which has led to more research into it. It, in turn, is the basis of some intriguing statistics.

Stats on the Size of Influencer Marketing

1. 86% of women prefer to use social media for purchasing advice.

(Source: Digital Marketing Institute)

Reports show that women prefer to use social media to inform them about what they should and shouldn’t buy. Social media influencer marketing is ideal for companies that largely cater to female consumers. It’s more apparent now that 45% of women claim to have become more active on social media in the past two years, especially on Instagram and Facebook. Moreover, women are 53.7% more likely to use Instagram than men in the US.

2. 6 in 10 teenagers prefer advice from influencers over celebrities.

(Source: Digital Marketing Institute)

This data alone has led to brands putting more into their influencer marketing budget. Gone are the days when celebrities seemed to have the most influence on their fans’ spending habits. 40% of consumers have purchased something after seeing it on social media platforms like Twitter, YouTube, or Instagram. 

3. Influencer marketing is used by 57% of fashion and beauty companies.

(Source: Ion)

Social media platforms like Instagram and Snapchat rely heavily on pictures, so it only makes sense that an industry like fashion and beauty would use influencer marketing to attract customers. In addition to the 57% that already use it for advertising, 21% also plan to add this to their marketing strategy as time goes on.

4.  The influencer advertising industry will be worth $13.8 billion by the end of 2021.

(Source: Influencer Marketing Hub)

Influencer marketing can significantly reduce traditional advertising while also helping companies increase brand awareness and reach new audiences. It’s now an important tool to stay ahead of the competition, as marketers are racing to carve out a niche for themselves. The influencer marketing stats show that as much as 40% plan to increase their budget for influencer marketing throughout 2021. 

5. Brands will spend up to $15 billion on influencer marketing by 2022. 

(Source: Business Insider)

Marketers are now reluctant to spend a lot of money on ad buys in newspapers and magazines. The money spent on traditional advertising mediums is reducing, while the estimated influencer marketing spend in 2020 was $15 billion. 

6. Around 49% of Twitter users have purchased something as a result of a tweet.

(Source: Digital Marketing Institute)

86% of Twitter’s revenue comes from advertising, according to the latest stats about the social network. Twitter marketing campaigns with the right influencer can increase sales and buzz about a particular product, service, or brand. Influencers on the platform even rival consumers’ friends in building trust, with 49% of Twitter users saying they’ve relied on influencers, compared to the 56% that rely on friends. The influencer marketing stats like this one demonstrate the impact influencers have on their followers’ purchase decisions.

7. Businesses earn $5.20 for every dollar spent on influencer marketing campaigns.

(Source: Influencer Marketing Hub)

Influencer marketing is beating paid search that, according to PPC stats, has a 200% ROI. It also beats organic search as the fastest-growing channel for brands. Businesses earn an average of $5.20 for every dollar spent on influencers, with the top 13% earning up to $20 per dollar spent. Blogs and Facebook are cited as the most effective platforms for influencer channels. However, email marketing remains unbeatable, with an ROI of $38 for every dollar spent.

8. The global spend on influencer marketing was expected to reach $8.08 billion in 2020.

(Source: Statista)

The influencer marketing industry has grown exponentially in the past two years, and it doesn’t show any signs of slowing down anytime soon. It was worth just $7 billion in 2019 and is expected to reach a global spend of $8.08 billion in 2020. 

Influencer marketing will soon have broader use in marketing. There will be better strategies for running campaigns, with better analytics to scale campaigns and manage the partnership between brands and influencers.

9. Influencer marketing costs between $1,000 – $1 million per post.

(Source: WebFX)

The marketing spends by industry varies, but influencer marketing, in particular, costs anywhere from $1,000 to $1 million in 2021, depending on the type of campaign you choose. Factors to consider are the influencer’s number of followers, platform, level of engagement, etc.

10. 89% of marketers agree that Instagram is the most impactful social media platform for influencer marketing.

(Source: Get Hyped)

Instagram is very user-friendly, which means anybody can understand it easily. And according to influencer marketing statistics, 89% of marketers use it for their campaigns. The app doesn’t require any special skills to learn how to use it to your advantage effectively. That’s why research shows it to be the leading platform for influencer marketing. The Instagram statistics reveal that 73% of marketers are already leveraging its huge advertising potential.

Instagram Influencers’ Marketing Stats

11. 56% of the US and UK marketers work with micro-influencers on Instagram because they’re more cost-effective than top-tier talent.

(Source: eMarketer)

Some of the other reasons include establishing a stronger audience connection (55%), higher levels of content authenticity (39%), more efficient targeted messaging (38%), increased long-term loyalty (9%), etc. 

12. A whopping 130 million Instagram users click on shopping posts to get more information every month.

(Source: Facebook)

This number equates to about 9% of Instagram’s total user base. This means there are still a lot of potential customers to be reached. A digital influencer can take advantage of the new shopping features Instagram keeps churning out to get new untapped groups.

13. Around 80% of Instagram influencers are female.

(Source: Warc)

Instagram influencer marketing is an industry dominated by women. This means there’s a higher demand for male influencers because there’s less supply. Certain brands may want to increase their target influencer marketing spend for the male influencers who reach a male audience.

14. Instagram has more than 500,000 active influencers.

(Source: Omnicore Agency)

Instagram is the most in-demand platform for influencer marketing, and it’s not hard to see why. The number of influencers on Instagram is high across the platform’s different niches. This number covers 39% of the Instagram accounts that have more than 15,000 followers.

15. Instagram was involved in 96% of all influencer marketing campaigns carried out in 2020.

(Source: Influencer Marketing Hub)

It is the reason why influencer marketing spend skyrocketed last year. Facebook and YouTube were not involved in nearly as many influencer campaigns as Instagram.

16. 84% of people claim they find new products on Instagram.

(Source: Instagram)

People use Instagram to find new products, meaning it’s now widely recognized as a marketing tool. 

17. The modeling and beauty niche has over 20 million followers on Instagram.

(Source: Influencer Marketing Hub)

The marketing spends by industry depends on the size of the niche or target market. Niches such as modeling and beauty have the most popular influencers, reaching the 20 million follower mark.

18. As much as 78% of marketers prefer using posts on Instagram to other content formats. 

(Source: SproutSocial / Fameswap)

Marketing strategies are more successful on Instagram than on any other social networking platform. This is because people prefer interacting with visual content to reading articles. Because the platform is so image-based, Instagram can share a range of information. Influencer marketing statistics show that the most-effective influencer content types besides regular Instagram posts are Instagram Stories (73%) and YouTube videos (56%). 

For this reason, we see more and more online marketplaces where businesses can buy Instagram accounts with a large following and use the marketing potential of the social network.

19. Almost 75% of Instagram influencers are 18–34 years old.

(Source: Emarketer)

This statistic is an excellent reason to increase the influencer marketing market size by targeting millennials because they tend to look to their peers for information. In fact, they value peer endorsement on a product over celebrity, meaning influencers have enough leverage to affect their spending decisions.

20. In 2021, Instagram’s dominance over other platforms reduced to 68% due to TikTok.

(Source: Influencer Marketing Hub)

Instagram has been dominating the influencer marketing world for years. However, we can see a reduction in that dominance. Namely, the social media influencer statistics for 2021 show that TikTok is slowly making its way up, with 45% of marketers now using it for influencer marketing purposes. 

The Costs and Metrics Associated with Influencer Marketing

21. An influencer can receive $1,000 or more per post.

(Source: Izea)

Influencer marketing fees can be based on cost per click (CPC), cost per engagement (CPE), or cost per acquisition. Depending on the model agreed upon between the influencer and the company, an influencer with over 100,000 followers on Instagram can earn $1,000 or more per post. 

22. Social media influencer marketing earnings can be as high as $5,000 per post based on their web traffic.

(Source: Izea)

Bloggers are paid based on their popularity and the traffic on their sites. If they have around 10,000–50,000 visitors per month, they can charge about $175 to $250 per post. For visitors of 50,000 to 100,000 per month, they charge $250 to $500 per post. In addition to these influencer marketing facts, blogs with visitors of more than 500,000 visitors earn from $1,000 to $5,000 per post.

23. Twitch’s live stream is the least-used channel for influencer marketing, even with 15 million daily active users.

(Source: BigCommerce)

Twitch is a platform used mainly by gamers for live streaming. This platform has over 15 million daily active gamers. The influencer marketing market size in this niche is very small and can be taken advantage of with so few influencers on the platform. It can be useful for companies with young male gamers as their target audience.

24. 49% of brands spend less than $10,000 on influencer marketing annually.

(Source: Influencer Marketing Hub)

The majority spend less than $10,000 annually on their influencer marketing campaigns. Moreover, the influencer marketing stats for 2020 show that 23% spend up to $50,000, 12% spend up to $100,000, 7.5% spend up to $500,000 and 8.6$ spend more than $500,000 on influencer marketing. 

25. 90% of marketers determine the success of their marketing campaigns based on the engagement rates.

(Source: Influencer Marketing Hub)

The influencer marketing statistics show that its global spending continues to increase. However, it’s getting more and more challenging to use return on investment (ROI) to measure campaign performance. So engagement rates are the preferred metric.

26. Instagram’s most lucrative industry for influencer marketing is travel, with an average of $220 per post.

(Source: Digital Marketing)

According to research, travel influencers get paid more than any other industry for their sponsored posts. With an advertising industry worth millions of dollars on only travel, this can be a very lucrative aspect to move into.

27. Facebook is 44% less popular than Instagram when it comes to influencer marketing.

(Source: HubSpot)

Facebook isn’t as suitable for influencer marketing or sharing sponsored ads as Instagram is, but it’s valuable for other purposes. After all, 97% of social advertisers choose Facebook as their most helpful platform. 

28. Influencers accept less than a quarter of the proposals they 

(Source: CPC strategy)

44% of influencers say that they accept less than 25% of the total proposals they receive. It is because they also care about the product’s value and how connected they feel to it. They must ensure consistency to build trust between themselves and their followers.

29. It’s predicted that advertisers will spend $2.4 billion on Instagram influencer marketing.

(Source: Wishpond)

Since Instagram has proven to be very effective at producing results, marketers are encouraged to invest in it more. This has led to an increase in the global spend on influencer marketing, and it’s expected to hit $2.4 billion on Instagram alone.

30. 9% of US small businesses use YouTube.

(Source: Brandwatch / Influencer Marketing Hub)

This number is poised to rise. People now realize it’s an effective, low-cost way to contact consumers and potential customers. The latest YouTube stats confirm this, revealing that 80% of shoppers use it to help them with their purchasing decisions. However, the social media influencer statistics for 2021 show that only 36% of marketers use YouTube for influencer marketing.  

Fun Facts About Influencer Marketing

31. Influencer marketing is the fastest growing online customer acquisition method.

(Digital Marketing Institute)

That’s why so many companies are jumping on the influencer marketing bandwagon. It’s now necessary for brands to collaborate with influencers that align with their message.

32. 60% of consumers have been influenced by social media or a blog while shopping at a store.

(Source: Digital Marketing Institute)

According to the influencer marketing stats, spending patterns have changed. This only goes to show the direct power influencer marketing has over product sales. 

33. The number of platforms and agencies that support influencer marketing doubled in two years.

(Source: Influencer Marketing Hub)

Influencer marketing has become so normalized that companies are being set up for influencer search and selection. This makes the system more transparent for companies and influencers alike.


Based on the influencer marketing statistics outlined above, it is clear that influencer marketing is the most effective way to create brand awareness and boost sales. If you’re a business owner, consider upping your company’s budget for influencer marketing, with a focus on Instagram. After all, the platform is the fastest-growing channel for influencer marketing.

If done well, it can be a great addition to your marketing campaign and the most effective way to reach millennials and Gen Zers.

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