20 Valuable Influencer Marketing Statistics to Elevate Your Brand in 2024
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Influencers are a new breed of celebrities — online content creators who have a lot of sway over their social media followers’ choices and decisions. Marketers were quick to notice this trend and soon began partnering up with these creators, giving rise to influencer marketing.
In this influencer marketing statistics overview, you’ll see how brands and marketers are using this advertising technique to promote their products and services. You’ll also find out how much online celebrities typically charge for sponsored posts and what their engagement rates are. Finally, you’ll learn all you need to know about influencer marketing on Instagram and YouTube, two of the most popular social media platforms among marketers worldwide
Top Influencer Marketing Statistics (Editor’s Choice)
- The influencer marketing sector could be worth £12.57 billion globally in 2022.
- Global fashion influencer marketing could reach £12.4 billion by 2027.
38% of brands allocate 10%–20% of their marketing budgets for influencers. - 85% of European marketers cite brand awareness as the primary goal of their influencer marketing efforts.
- 89% of brands deem Instagram vital for their marketing strategy.
- Instagram influencers with 100,000 to 1 million followers charge from £120 to £1,315 per sponsored post.
- In 2020, brands spent £4.8 billion on YouTube influencer marketing.
- YouTubers with 100,000 to 1 million subscribers charge between £948 and £2,949 for an ad.
Essential Influencer Marketing Stats
1. The influencer marketing sector could be worth £12.57 billion globally in 2022.
(Statista, Influencer Marketing Hub)
Influencer marketing has been expanding every year since 2016. By 2018, its value had almost tripled to nearly £3.5 billion. Experts predict that the growth of influencer marketing will continue — they estimate the sector will reach £12.57 billion in 2022.
2. Global fashion influencer marketing could reach £12.4 billion by 2027.
(Grand View Research)
As fashion influencers become more and more popular, brands will start giving them more money to promote their products. At the end of 2019, the fashion influencer sector was worth £1.1 billion globally. Growing at a compound annual rate of 35.7% between 2020 and 2027, influencer marketing in the fashion industry should already double its worth by 2022. By the end of this period, in 2027, experts predict the worldwide market could be worth £12.4 billion.
3. 38% of brands allocate 10%–20% of their marketing budgets for influencers.
(Statista)
Influencer marketing statistics show that most brands still don’t prioritise this promotional method. In fact, as of early 2021, 22% of brands worldwide had invested less than 10% of their budgets into influencer marketing. But some companies have taken note of the power of influencers. Namely, social media marketing facts show that 11% of businesses around the world are allocating more than 40% of their advertising budgets for influencer marketing.
4. Finding the right influencer aligned with a suitable target audience is a challenge for 81% of brands.
(Traackr)
Not all traffic is good traffic, as it might not turn prospective leads into customers. And even though brands always conduct thorough influencer demographics research beforehand, they still cite finding the right influencer as this marketing method’s top challenge. At the same time, 58% of brands struggle to assess the return on investment of their influencer marketing spending, while 22% have had to compete with others to recruit some of the more popular influencers, especially those with millions of followers.
5. 34% of brands find searching for the best platform challenging.
(Traackr)
A recent survey found that deciding on the right social media platform to recruit influencers is one of the top challenges marketers are currently facing. With the social media landscape continually evolving, influencer marketing stats reveal that 27% of brands struggle to choose which content type to focus on. Finally, with so many online celebrities already hired by their competitors, 26% of businesses report difficulty finding new, not yet discovered influencers.
6. 85% of European marketers cite brand awareness as the primary goal of their influencer marketing efforts.
(Statista)
Influencer marketing and brand awareness go hand in hand, so it’s no surprise that 85% of European marketers cite this as the primary goal of their influencer campaigns. Additionally, 66% use this type of marketing to boost sales and 51% to reach new target demographics.
As for marketers across the pond, the majority (35%) use it to discover and reach new target audiences. Other top goals of US influencer marketing campaigns include improving sales (26%), sharing brand values and objectives (22%), and increasing customer loyalty (18%).
7. 52% of brands worldwide have worked with fewer than 10 influencers.
(Statista)
Despite the many benefits of influencer marketing, more than half of the world’s brands have only worked with fewer than 10 influencers so far. What’s more, some of these brands have yet to give influencer marketing a try. On the other hand, 22% of brands have worked with 10–50 influencers, 13% with up to 100, and 8% with up to 1,000. Only 6% have invested heavily in influencer marketing, having teamed up with more than 1,000 content creators.
8. UK marketers would pay up to £75,174 for posts from celebrity influencers.
(eMarketer)
According to the most recent research, the prices UK influencers command have increased across the board. Brands are willing to spend the most on Facebook (£75,174), YouTube (£67,242), and Twitter (£64,798) influencers. Meanwhile, Instagram influencer pricing in the UK sits at £60,476 per post. This applies to online celebs with more than a million followers.
As for macro-influencers with a loyal following of no more than 10,000 subscribers, the prices are considerably lower. There, YouTube commands the highest cost of £1,595 per post, with Facebook (£1,538), Twitter (£1,351), and Instagram (£1,203) all following closely.
9. 60% of UK millennial consumers have bought something recommended by an influencer they follow.
(Cure Media)
Influencer marketing statistics from the UK show that 48% of millennial consumers find this marketing model more authentic than other advertising techniques. What’s more, 44% of these consumers think more highly of brands that use influencers in their marketing efforts.
UK millennials trust an influencer recommendation more than a celebrity endorsement, statistics reveal. In fact, 63% say they find nano-influencers and micro-influencers — who have between 500 and 25,000 followers — more trustworthy than online celebrities with larger audiences.
On that note, 61% say they’re more likely to follow these influencers with small but loyal followings, as they target smaller niches these consumers are interested in.
10. TikTok influencers with over 1 million followers charge at least £1,874 per post.
(Influencer Marketing Hub)
Although marketing on the platform is on the rise, popular TikTokers still charge considerably less than famous influencers on other social media platforms. A recent influencer marketing report revealed that those with a million or more followers charge at least £1,874 per post, while TikTokers with tens of millions of followers earn upwards of £7,495. On the other end of the spectrum, TikTok influencers with up to 10,000 followers charge £3.75–£18.74 per post.
TikTok influencers focused on fashion don’t just earn money through posts—but also through collaborations with fashion companies, attending events or straight-up becoming models.
Instagram Influencer Statistics
11. 89% of brands deem Instagram vital for their influencer marketing strategy.
(Statista, DataReportal)
With nearly 1.4 billion active users, Instagram provides plenty of opportunities for business promotion. This, combined with the platform’s ever-growing affluent young user base, makes it the preferred channel for marketers in search of influencers.
According to social media marketing statistics, YouTube is second with 70% and Facebook third with 45%. Somewhat surprisingly, 44% of marketers say they also recruit bloggers for their influencer campaigns.
12. Influencers with over 1 million followers have an engagement rate of 1.21%.
(Statista)
Looking at influencer engagement rates data, it’s interesting to note that those with smaller followings have the best numbers. For example, Instagram content creators with fewer than 15,000 followers yield an engagement rate of 3.86%. Similarly, those with between 15,000 and 50,000 followers also have a higher engagement rate than mega-influencers — 2.39%.
13. Instagram influencers with 100,000 to 1 million followers charge from £120 to £1,315 per sponsored post.
(Statista)
The Instagram influencer marketing cost typically depends on the number of followers a user has. As such, those with up to 5,000 followers may earn up to £29 per post. If they approach the 100,000 mark, they can begin asking for more money — up to £216. Those with a million or more followers earn the most, with their rates starting at £815 for a single sponsored post.
14. 85% of brands use Instagram stories as part of their influencer marketing strategies.
(Traackr)
Statistics on influencer marketing show that Instagram stories are the most commonly used content format among marketers worldwide. Looking solely at Instagram, stories are more popular than posts, which 78% of brands use to promote their products and services. At 49%, influencer marketing data puts Instagram Reels in third place in terms of popularity.
With more than 500 million active users, stories are among the platform’s most popular content formats. For marketers, stories are also the most affordable. Since they disappear after 24 hours, their reach is limited compared to more permanent posts. And due to their short lifespan, stories require less polishing and editing. As such, influencers need less time to make a story than other content types, which factors into their comparatively low price.
15. 31% of brands advertise via IGTV.
(Traackr, Influencer Marketing Hub)
Promotion via IGTV is among the latest influencer marketing trends, with nearly a third of brands incorporating it into their influencer campaigns. Introduced in 2018, the feature allows users to post long-form video content on their profiles. And while there’s very little research on its effectiveness, some marketers actually prefer IGTV to YouTube. The reason is simple: unlike YouTube, it’s not oversaturated with content, so reaching the right audiences is easier.
YouTube Influencer Marketing Statistics
16. In 2020, brands spent £4.8 billion on YouTube influencer marketing.
(Statista)
The spending in 2020 marked a record-high, having increased by 20% from just over £4 billion the year before. Although there’s no data for UK companies, influencer marketing research shows that Zara was the most mentioned brand among British YouTubers in 2020. It garnered 630 mentions, followed by the women’s fashion brand PrettyLittleThing (462), pharmacy store chain Boots (411), and luxury cosmetics retailer LOOKFANTASTIC (288).
17. Most UK YouTube influencers specialise in entertainment and video games.
(Statista)
With 8.18% of all YouTube influencers producing content categorised as entertainment, it is the UK’s most popular social media influencer marketing niche. Another 8.01% of YouTubers focus on video games, while 7.94% run vlogs where they cover various topics. Music is the fourth most popular category, with 7.81% of UK YouTube influencers posting related content. Other popular categories include style (4.21%), film and TV (3.66%), and education (3.58%).
18. YouTubers with 100,000 to 1 million subscribers charge between £948 and £2,949 for an ad.
(Statista)
Social media influencer statistics show that it’s more expensive to partner up with celebrities on YouTube than on Instagram. These platforms engage audiences in different ways, but it’s still a fair comparison, seeing as they’re the two social sites that have contributed the most to influencer marketing growth. On that note, YouTubers with over a million subscribers charge a minimum of £5,325 per ad — 5.5 times what Instagram’s mega-influencers tend to charge.
19. The engagement rate of a YouTuber with over 1 million subs is 0.37%.
(Statista)
Same as Instagram, YouTube influencer marketing facts show that accounts with a smaller number of followers have higher engagement rates. For example, the average engagement rate for YouTubers that have between 500,000 and a million subs is 0.44%.
Unsurprisingly, the impact of influencer marketing on consumer behaviour is highest for micro-influencers with fewer than 15,000 subscribers. They have the highest rate at 1.63% — more than three times that of channels with 15,000 to 50,000 subs, which rank second at 0.51%.
20. YouTube influencer conversion rates sit at around 2.7%.
(Unbox Social, Influencer Marketing Hub)
Influencer endorsements on YouTube yield higher conversion rates than regular ads on the platform. According to research, the latter method only converts prospective leads 0.5% of the time. Yet despite these results, brands still face the influencer marketing vs social media advertising dilemma. That’s because their online ad budgets are typically very limited, and partnering up with an influencer costs considerably more than posting an ad on social media.
Still, online marketing is all about conversion. In a recent survey, the majority of marketers (38.5%) cited conversion and sales rates as their go-to way of measuring the success of an influencer campaign. Meanwhile, 32.5% focus primarily on the engagement rates and clicks a promo post generates, and 29% are concerned with the post’s reach and number of views.
Influencer Marketing Statistics for 2022: In Conclusion
Although influencer marketing has been a growing trend for nearly half a decade, it is still nowhere near plateauing. More and more brands are investing in this type of marketing, driving the sector’s value from £1.2 billion in 2016 to an estimated £12.57 billion in 2022.
With the rising demand, influencers have also begun charging more. This is especially true of YouTube content creators, who may pocket thousands of pounds for a single mention of the brand. And while YouTube and Instagram are still the go-to sites for influencer marketing, the increasingly popular TikTok may take over very soon. After all, TikTok influencers are already commanding prices comparable to those of their Instagram and YouTube peers.
FAQ
What is influencer marketing?
Influencer marketing involves paying a content creator to promote or align themselves with a brand or product. This technique differs from posting an ad on social media platforms in the way the brand messaging is presented. Sometimes, the brand in question is introduced as a sponsor. But often, the endorsements are incorporated seamlessly into the content so as not to stand out from what the influencer’s followers are already used to seeing on their feeds.
How effective is influencer marketing?
Influencer marketing effectiveness is hard to measure, but according to statistics for 38.5% of marketers, the best way to do so is to look at a post’s conversion rate. In that regard, influencer videos on YouTube fare better than ads on the platform, with the rates of 2.7% and 0.5%, respectively. Another 32.5% of marketers look at engagement rates, which go up to a respectable 3.86% and are typically higher for influencers with smaller followings.
What percentage of brands use influencer marketing?
As of early 2021, more than half (52%) of the world’s brands had either worked with fewer than 10 influencers or had yet to work with one. The remaining 48% had used influencer marketing considerably more. Namely, 22% had worked with 10–50 influencers, 13% with up to 100, and another 8% with up to 1,000. Only 6% of brands worldwide had worked with more than 1,000 influencers, indicating a significant investment in influencer marketing.
Is influencer marketing increasing?
Yes, influencer marketing is still a growing sector. Since 2016, when its value stood at just £1.3 billion, brands around the world have invested billions in this type of advertising. Five years later, in 2022, experts estimate the sector’s value will reach £12.57 billion — a 866% increase. A recent Traackr report also found that most brands had increased their influencer spending in 2021, leading to a 28% year-over-year rise in the number of sponsored posts.
How much do influencers charge in the UK?
The cost of hiring an influencer depends on their number of followers, the social platform they use, and the type of partnership they form with a brand. Influencer marketing statistics reveal that those with 100,000 to 1 million followers charge £120–£1,315 per Instagram post and £948–£2,949 per YouTube video. Those with more than a million followers charge the most — their rates start at £815 on Instagram, £1,874 on TikTok, and £5,325 on YouTube.
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