Influencer marketing statistics to know in 2024

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. 

Top influencer marketing statistics to know in 2024

Influencer marketing stats: key takeaways 

• Over half of brands who work with influencers run ecommerce stores
• Micro-influencers have the highest engagement rate
• Brands get $4.12 for every $1 spent on influencer campaigns on IG
• Brands see an in increase in affiliate sales when using influencers

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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 are ecommerce 

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

63% of consumers are likely to buy products from an influencer they trust 

This is a biggie: 63% 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, 2024

82% of brands say they get better quality leads from influencer marketing campaigns

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, 2024

‍63% of Gen Z and millennials say they trust influencers

The majority of millennials and Gen Z social media users in Morning Consult’s survey said they trust influencers on social media. This is up from 51% in 2019. 

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 

63% of marketers say influencer-generated content performs better than other brand-directed content

Consumers want to see authentic content from real people. And this is evident in the numbers. A majority of marketers say influencer-generated content performs better than other forms of brand content. 

Source: Aspire, 2024

TikTok influencer marketing statistics 

78% of users purchased a product after seeing it featured in TikTok creator content

A whopping 78% of TikTok users said they bought a product after seeing it featured in creator content. That’s a big number, and shows just how influential TikTok creators and influencers can be. 

Source: TikTok, 2024

TikTok is the best platform for social commerce 

Social commerce is a way for brands to sell products directly through social media. You can set up shops through channel features such as TikTok Shop and shoppable video ads. This is definitely worth investigating as 36% of UK consumers say TikTok is the best social media platform to buy products on. 

💡 TikTok expert, Ashley Wright, says TikTok Shop is the channel you should be looking out for 2024. 

Source: Traackr, 2024

26% increase in TikTok influencer campaigns 

In 2023, there was a 26% increase in the number of influencer campaigns on TikTok. And thanks to TikTok Shop and hashtags like #TikTokMadeMeBuyit, there’s also been an increase in the number of consumers buying products via the social platform. 

Source: Aspire, 2024

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

💡 Ready to launch your brand’s TikTok channel in 2024? Check out our TikTok strategy guide to get started. 

Instagram influencer marketing stats 

Instagram is the most popular platform for watching IGC

In a survey by Traackr, Instagram ranked, on average, number 1 for being the go-to platform for consumers to watch Instagram-generated content (IGC) on. This was from a pool of participants classed as millennials (between the ages 27-42) and Gen-Z (12 - 27). This is followed by YouTube and TikTok. 

Source: Traackr, 2024

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: 

• 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 

90% 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, 2024

Facebook influencer marketing stats 

Facebook ads can reach 1.98 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 1.98  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: Statistica, 2023

Facebook was voted second-best for influencer marketing ROI

Facebook ties with YouTube when it comes to the best ROI for your influencer marketing campaigns. Marketers also voted Instagram as the best channel for influencer ROI, so a combination of these platforms could be a safe bet for 2024.  

Source: HubSpot, 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, 2024

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, 2024

YouTube has the highest cost-per-mile (CPM) 

The CPM measurement is the cost an advertiser pays per 1000 views on a video. Out of all social channels, YouTube has the highest CPM. So for every 1000 views on a YouTube video, advertisers pay $20. Next is Instagram Stories and TikTok at $15. And Instagram reels at $10.

What can you take away from this? Advertisers think YouTube is a great option for getting in front of potential customers. So if you can work with an influencer on some content for YouTube, you’re in for some good results.  

Source: Aspire: 2024

‍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, 2024

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 HypeAuditor’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: HypeAuditor, 2023

21% of marketers repurpose IGC on their website and product pages

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 seems the most popular way to repurpose IGC is by adding it to your product pages.  

Ecommerce brands like Starface actually use images by creators instead of product images on some of their pages. 

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  

57% of influencers are keeping their rates the same 

We saw influencers raise their costs in 2023. But a report by Aspire indicates that creators are keeping their rates the same this year. This is good news for brands already seeing success with their influencer marketing campaigns. 🙌

Source: Aspire, 2024

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
• 69% of brands plan to increase their influencer marketing budgets in 2024
• 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, 2024 

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

Advertising and affiliate marketing statistics 

Many brands use influencers to boost organic engagement and brand awareness on social media. But you can also use them to directly drive sales, too. 

Increase in affiliate sales when using influencers

You can team up with influencers for your paid marketing through affiliate programs. They’ll promote your products on their channels. This could be on YouTube, Instagram, their podcast or blog—wherever their audience hangs out. They’ll also share special discount codes for their followers. For every sale made using the code, the influencer earns a commission. It's a great way for you to boost sales and get your brand out there while offering your influencers an incentive, too. 

And it’s a worthwhile tactic because, according to Aspire, you could see a staggering +2,200% increase in affiliate sales if you use influencers in your campaigns. 🤯

Source: Aspire, 2024

30% decrease in CPA when IGC is used instead of brand-produced content 

You could see up to a 30% decrease in cost per acquisition (CPA) when using influencer-generated content compared to standard brand-produced content. This underscores the effectiveness of influencer-driven campaigns in acquiring customers at a lower cost.

Source: Aspire, 2024

The use of AI in influencer marketing

Thanks to the rise of tools like ChatGPT, there seems to be no getting away from AI. But no matter your feelings about it, you can certainly use it to your advantage. Whether you’re using it to help automate your influencer campaigns, or working with AI influencers to help promote your products—here are some interesting statistics to get you thinking. 🤖 

• 48% of people use AI in their influencer marketing campaigns 
• 50% of marketers who worked with AI influencers say they had a positive experience 
• For 50% of survey participants, they said that ‘natural language’ processing was the most used tool in AI influencer technology 

Source: Influencer Marketing Hub, 2023

If you’re wondering what an AI influencer might look like, take a look at Nobody Sausage. This AI character regularly works with big name brands on campaigns designed to stop the scroll on social media. 

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: 

• 93% 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.
• 49% of creators say long-term campaigns are their favourite way to work with brands.
• 89% of creators are prioritising spending time on TikTok over any other channel 
• 70% of consumers say they’d stop following an influencer if they said something that contradicts their personal values 

Source: Aspire and Traackr, 2024

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How to be successful with influencer marketing in 2024

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. ✨👇