Influencer marketing statistics to know in 2023

The influencer marketing industry is set to be worth $22 billion by 2025. That’s big money.

And for ecommerce, this is a golden opportunity to start working with influencers and creators. They’ll help promote your brand and sell your products. 🛒 

But what type of influencer should you use? And what channel will work best? Check out this round-up of influencer marketing statistics to get you started. 

Influencer marketing stats: key takeaways 

• Over half of brands who work with influencers run ecommerce stores
• Most TikTok users find ‘normal creators’ more interesting than celebrities 
• Brands get $4.12 for every $1 spent on influencer campaigns on IG
• The majority of creators say long-term campaigns are their favourite way to work with brands

Let’s get into the full list of influencer marketing statistics. 👇

The importance of influencer marketing for ecommerce brands 

Wondering if influencer marketing is worth adding to your digital marketing mix? Here are some stats to make you think twice. 

51% of brands who work with influencers run ecommerce stores

The majority of brands working with influencers are ecommerce or have an online store. If 51% of brands working with influencers have ecommerce stores, chances are your competitors are already doing it. Time to jump on that influencer bandwagon! 

Take a look at our handy guide on getting started on your influencer marketing strategy. 

Source: Influencer marketing hub, 2023

71% of consumers are likely to buy products from an influencer they trust 

This is a biggie: 71% of shoppers say they’re more likely to buy a product if it’s recommended to them by a social media influencer they trust. This means you don’t need to fork out for a mega influencer (that’s someone with over a million followers). It’s more important to find influencers with a smaller audience who’re closer to your industry. 

Source: Traackr, 2023

82% of brand’s leads from influencer marketing are better quality than other campaign types

When it comes to getting leads from your marketing campaigns, often quality is better than quantity. Nobody likes tyre-kickers, right? 82% of brands say they see better ‘quality’ leads from influencer marketing campaigns over any other campaign. 

It’s not clear what is considered ‘quality’ in this instance, but some examples could include the original purchase order value or returning customer rate after first finding you via your influencer campaign.

 Source: Influencer Marketing Hub, 2023

Nearly 72% of Gen Z and Millennials follow influencers on social media

Knowing your target audience is super important. If you’re targeting Gen Z and Millennials, influencer marketing should be a top priority. That’s because 72% of this audience who follow influencers say this is where they often learn about new products and services. 

Source: Morning Consult, 2023 

79% of people say UGC impacts their buying decisions

There's an increasingly blurred line between influencer and user-generated content creators. But the fact still remains: shoppers are more likely to buy from brands that have been recommended by people they trust, which includes the people raving about your products. So getting a good mix of authentic UGC alongside your influencer campaigns could be a winning formula. 

Source: Nosto, 2023 

TikTok influencer marketing statistics 

72% of TikTok users find ‘normal creators’ more interesting than celebrities

TikTok has given regular folk the opportunity to go viral. TikTok users want to see non-famous people doing regular things (like perform comedy sketches or bake bread). This is something to bear in mind when searching for your next influencer. The more authentic and relatable a creator is, the more interested your audience will be. 

Source: TikTok, 2023

80% of TikTokers say the platform helps them discover new products

Ever seen the hashtag #TikTokMadeMeBuyIt? Well it’s got 45.8 billion views, so it’s safe to say TikTok is the perfect place for discovering new products. And 80% of TikTokers say they’ve discovered new brands on the platform that they’ve never heard of before. 

If this is the sign you needed, check our TikTok strategy guide to get started. 

Source: TikTok, 2023

72% of Tiktokers took an action off the platform after watching a review by a creator they trust 

Out of all the people who take ‘action’ off of the platform after watching a TikTok video, 72% say it’s because they watched a review from a creator they trusted. It’s not obvious what the action is, but even if someone takes a browse of your website after watching a review of your products, it’ll boost brand awareness and put you at the forefront of their mind. 

Source: TikTok, 2023

Micro-influencers have the highest engagement rate

Out of all the influencer types, micro-influencers get the most engagement according to a survey by Upfluence. TikTok influencers are trumping other social media platforms like Instagram and YouTube. Here’s a breakdown of the engagement percentages for TikTok.

• Micro-influencers (10k-1000K followers) - 17.96%
• Mid (100k-500k followers) - 6.6%
• Macro (500k-1m followers) - 6.2%
• Mega (1m+ followers)  - 4.96%

However, Instagram is still the most popular channel for influencer marketing. 👀 (Keep scrollin’ to find out more).

Source: Upfluence, 2023

Instagram influencer marketing stats 

Influencer costs per Instagram post 

Taking a look at your influencer marketing budgets? Here’s a breakdown of the different types of influencers you can hire, along with their cost per Instagram post in 2023: 

• Nano (1k-10k followers) - $20-$200 
• Micro (10k-50k) - $35-$450 
• Mid (50k-500k) - $150-$2500 
• Macro (500k-1M) - $350-$7000 
• Mega (1M+) - Starting at $1200 

Note: These are rough averages and the price of influencer content will vary from person-to-person. 

Source: Hype Audit, 2023

65% of influencers on Instagram are nano-influencers

Nano-influencers are people who have 1k-10k followers and they make up 65% of all influencers on Instagram. They also have the highest engagement rate on IG, so they’re a great choice if you’re looking to work with content creators.  

Source: Hype Audit, 2023

Instagram is the most popular channel for influencer marketing 

60% of brands who use Aspire, a platform that helps you run influencer campaigns, are primarily using IG for their influencer marketing. And 87% of brands say they’re going to invest more in Instagram this year. 

Source: Aspire, 2023

39% of UK consumers say they’re more likely to purchase a product via IG 

If you’ve got a large target audience in the UK, it’s worth focusing on Instagram to help market your products. 39% of UK consumers say they’re much more likely to purchase a product on Instagram over any other social platform. If you’re not sure where to start, take a look at some ecommerce brands using Instagram. 

Source: Traackr, 2023

Facebook influencer marketing stats 

Facebook Ads can reach 2.08 billion people 

Facebook is buzzing with ads. You don’t need a stat to see this, just head to your feed and you won’t be able to get away from them. Facebook ads have the potential to reach 2.08 billion people. 🤯 Combine that with some influencer marketing ads and you’re onto a winner. 🏆

Want some FB ad inspo? Check out our article all about creating Facebook Ads (and how to create some 🔥graphics for your campaigns). 

Source: Hootsuite, 2023

50% of marketers use Facebook for their influencer campaigns 

Facebook isn’t as popular as Instagram. However, 50% isn’t a bad number. If you’re running influencer campaigns on this channel, consider combining with Facebook Ads to do some super-targeting. 💡

Source: Influencer Marketing Hub, 2023

62% of people who use stories across the Meta family

Wondering what content to post on Facebook? Video is definitely going to be your best bet. With 62% of Facebook users watching stories over any other content (like FB Live and FB Watch) you’ll have a good chance of reaching a broad audience.

Source: Dash, 2023 

Millennials make up the majority of Facebook users

If you’re targeting millennials - that’s people born between 1981 and 1995 (which makes them between the ages 27 and 42 in 2023) - it’s worth using Facebook to grab their attention because they make up the majority of users on Facebook. In contrast, Gen Z (people born after 1995) are the least likely to use Facebook - you’re better targeting them on TikTok. 

Source: Traackr, 2023

YouTube influencer marketing stats 

YouTube has the highest engagement rate for influencer video content 

Despite Instagram being the most popular platform for influencer marketing, YouTube influencers receive the highest engagement rate - calculated by the number of likes, comments and shares of a video. 

Source: Aspire, 2023

YouTube creators achieve 50% engagement rate on long-form videos

People who create videos on YouTube get, on average, a whopping 50% engagement on their long-form videos. That means for every ten people who watch, five of them will either like, comment, share - or all of the above! If you’re thinking about working with influencers on YouTube, it’s worth checking out their metrics for an indication on how engaged viewers are with their content.

Source: Aspire, 2023 

70% of viewers have made a purchase after seeing a brand on YouTube 

If people are watching your brand on YouTube - whether it’s product demos or tutorials - there’s a fairly high chance they’re going to make a purchase. It’s worth dipping your toes into this channel if you’ve not already. 

Source: Dash, 2023

The ROI of influencer marketing campaigns

If you’re thinking of launching an influencer marketing campaign, you might have to convince your boss that it’s the right move. Here are some stats to give you an idea on the ROI you can expect. 

Brands get $4.12 for every $1 spent on influencer campaigns on IG

That’s right! According to HypeAudit’s report, you can get - on average - $£4.21 for every $1 you spend with an influencer on Instagram. So for that $500 post with your micro-influencer, you could see a wallet-tingling $2105 in return. 

Source: Hype Audit, 2023

23% of brands say they save money on content creation by repurposing their IGC

IGC stands for influencer-generated content and, if you’ve got permission from your creators, you can repurpose this content across different channels and platforms.  It’s a great way to build up a library of content and can save you money on content creation. 🙌

Source: Aspire, 2023

Nano-influencers on TikTok have the lowest cost-per-engagement

Cost-per-engagement (CPE) is measured differently across different platforms. But in general, it indicates how much a like, share or comment is worth on an influencer’s post. When putting a budget together for your influencer campaigns, it’s worth noting that nano-influencers (people with less than 10k followers) have the lowest CPE on TikTok over any other influencer group and channel. Here’s a rough breakdown of CPE’s across Instagram, TikTok and YouTube.

Source: Aspire, 2023  

70% of influencers have increased their rates in the past year

Costs are going up everywhere and influencer partnerships are no exception. Understandably, 70% of influencers have put their prices up to match their growing audience, as well as keep up with the cost-of-living. 

Source: Aspire, 2023

53% of brands pay influencers based on a percentage of campaign sales 

Paying influencers a flat rate used to be the norm but budget cuts and rising costs means many brands need to prove the effectiveness of their campaigns first. This isn’t ideal - influencers should be paid for the time and effort they spend creating content for you. But, this may be a good starting point if you need a way to win over your boss. 

Source: Influencer Marketing Hub, 2023

If you need more ways to convince your boss, take a look at these influencer marketing benefits that’re sure to win them over. 🙌

Running your influencer marketing campaign 

So what about actually launching that influencer campaign you’ve been thinking about? Check out these stats to see what other brands are up to. 

• 80% of companies are dedicating budget towards influencer marketing
• 68% of brands plan to increase their influencer marketing budgets in 2023
• 60% of brands use 3rd-party tools to assist with influencer marketing. Out of those  tools, discovery and communication tools are the most popular. 

Source: Aspire and Influencer Marketing Hub, 2023 

We’ve got a list of influencer marketing tools that’ll help you plan, manage and report on your campaigns. 

Beware of fake followers 

When reporting on your influencer marketing campaigns, it’s important to take into consideration the number of fake follower engagements your influencer may receive. The bigger the influencer you work with (like mega-influencers), the bigger the fake follower count. It’s something to think about when you’re estimating engagement. 

What’s more, a report by Sortlist found that out of 40 brands analysed, they had an average of 25% suspicious accounts following them. 👀 This is likely to increase when running influencer campaigns - so be on the lookout! 

Source: Sortlist, 2022

Tips on working with influencers

The relationships between you and your influencers are super important. Particularly as both influencers and brands prefer long-term partnerships. Check out these stats to see how other brands work with influencers: 

• 52% of brands are building long-term relationships with creators and turning them into brand ambassadors.
  
  
• 83% of influencers are willing to work with a brand for free products, as long as they love the brand or the product value is high.
  
  
• 70% of creators say long-term campaigns are their favourite way to work with brands.
  
  
• Brands are using different types of influencers including brand ambassadors, industry professionals, customers and employees.

Source: Aspire, 2023

Resource

Influencer brief template

Kick start your own influencer campaign with this free template. Set expectations, outline your campaign and away you go!

How to be successful with influencer marketing in 2023

Now you’re equipped with a bunch of influencer marketing stats, what does this mean for your campaigns this year? Here are some key themes to consider: 

• Pick the right tools for your campaigns: You can’t do everything in spreadsheets and shared drives, so make sure you pick tools that’ll help achieve your campaign goals. For instance, Dash (that’s us) is a really handy tool for ecommerce brands who need to manage and share their visual content. Influencers can upload their content to Dash without the need for endless email chains and large file transfers. You can also set expiry dates and usage rights so your teams know what content they can repurpose for future campaigns.
   
  🤓Take a read of our post to discover more influencer marketing tools.
  
  
• Spend time finding influencers that your audience trusts: Your audience is way more likely to engage with your campaigns if they already trust the influencers you work with. Plus, more and more people prefer to watch ‘regular’ people, rather than celebrities. Check out tools like Shopify Collabs and Klear to help you find niche influencer recommendations. 
  
  
• If you’re on a tight budget, work with nano-influencers on TikTok: If they fit with your brand’s audience and goals, start by working with TikTok nano-influencers - they’ve got the lowest cost-per-engagement across all social channels. Once you can start proving the ROI of your campaigns, you could begin scaling on different platforms. 
  
  
• Focus on video content: Whether you’re creating stories on Instagram or long-form videos on YouTube, most stats point to video content being the best type of content for engagement and conversions. 
  
  
• Repurpose your influencer content: If your influencer’s give you permission to, you can repurpose their content across different platforms. You could use them in ads, on your website - anywhere that feels appropriate. This is a great money-saver and will save you time planning new content in a hurry. 

Organising your influencer content 

Planning and collaborating on influencer campaigns is no quick task. You’ll need a place to store and manage your content, and keep track of how well your campaigns are doing. 

Well, you can do all that with Dash - that’s us! 😇

Our digital asset management tool (DAM) is the home for visual content. Influencers and creators can upload content to Dash, you can give them feedback and deploy images and videos to your social channels - particularly useful if you’re repurposing content in the future. You can also tag content by how well they’ve performed in your campaigns. 

Interested? 

You can try Dash for free for 14 days. ✨👇