10 Brand advocates and Influencer marketing stats – 2023
Here are our influencer marketing stats! Influencer Marketing is among the most popular types of marketing with reportedly 93% of brands using it. Over the last five years, it has grown from obscurity to a form of marketing where even the biggest brands understand its value. Now, it’s on track to become a $15 billion dollar industry and it shows no sign of slowing down. With increased popularity, demand, and company spend for influencer marketing, it’s safe to say we can expect new and exciting things coming this year.
There have been numerous studies analyzing influencer marketing’s effects, so here are our 10 influencer marketing stats and facts about the industry:
10 brand advocates and influencer marketing stats
1. 89% of marketers say ROI from influencer marketing is comparable to or better than other marketing channels
According to Mediakix, nearly half (48%) of marketers say that ROI from influencer marketing is better than other marketing channels. 41% say returns are equal to other sources. As more marketers improve their measurement and optimize their tactics, we expect more marketers to improve their returns in the following years.
2. 80% of marketers find influencer marketing as an effective channel to achieve their business goals
In the same study, Mediakix refer that a huge majority (80%) of marketers find influencer marketing effective, and 35% find it very effective. Only 5% of marketers find influencer marketing ineffective. Also, 71% of them said the quality of customers and traffic from influencer marketing is better than other sources – only 5% disagree.
3. Businesses are making $5.20 for every $1 spent on influencer marketing
A 2019 survey by Influencer Marketing Hub emphasizes how influencer marketing can be highly lucrative for those brands who engage in it. The top 13% of businesses make $20 or more. Most companies get positive results from influencer marketing
4. 63% of marketers intend to increase their influencer marketing budget in the next year.
This statistic comes from the same Influencer Marketing Hub survey. Marketers clearly see how lucrative influencer marketing can be to a brand – when it’s done correctly. Nearly 2/3 (63%) of businesses who do budget for influencer marketing intend to increase their spending over the next 12 months.
5. 17% of companies will spend over half their marketing budget on influencer marketing
Most companies are spending a modest percentage of their overall marketing budget on influencer marketing, anywhere up to 20%. However, a small but noteworthy 17% of marketers are spending over half of their entire marketing budget on influencer marketing, and over 25% invest over 40% of their budget on it.
6. 27% of internet users are expected to block advertising on their connected devices
According to Statista in 2020, roughly 26.4% of internet users were blocking advertising on their connected devices. Internet advertising spending is constantly growing, leading to an increasing number of internet ads. This also led to overwhelmed internet users turning to adblockers in an effort to browse webpages without display ads slowing them down. This figure is expected to keep growing which loosely translated means that a quarter of paid advertising messages will never reach their audiences.
7. The average CTR (Click-Through Rate) for banners is 0.06%
Brands blindly buy banner ads in the hope that people will click through to their landing pages. With the budget concentration on digital marketing, this trend will be even more evident. The problem is that click-through rates are awful: 0.06%, according to Google. Yet, banner ad growth is expected to grow by 11.2%, according to Statista. Even more embarrassing, 60% of clicks on banner ads are reportedly accidental, and 90% of ad clicks are by bots.
8. 61% of marketers consider finding relevant influencers for a campaign difficult
Although there are more platforms, databases, and tools, the majority of marketers still struggle to identify the right influencers for their goals. 17% feel strongly that this is a challenge. The most common way that companies find influencers for a campaign is the old-fashioned way: searching directly on social media platforms themselves. This is a struggle that VoxFeed wants to fix by letting advertisers access their database for free. They can find influencers based on their interests, audience profile, costs, and social networks and create campaigns that meet specific goals: increase sales, awareness, acquisition costs, etc.
9. 75% of marketers say verified web traffic of an influencer is the most important criteria when selecting an influencer
A May 2015 study by Schlesinger Associates for Augure showed that verified web traffic is becoming more important for advertisers than engagement. The growing number of bots and fake followers is becoming a concerning factor for advertisers. Running profile analysis on VoxFeed, every advertiser can verify, for free, influencers’ audience and their share of bots and fake followers.
Using HypeAuditor technology, VoxFeed provides information on how authentic a creator’s audience is. HypeAuditor evaluates the authenticity of an audience based on various criteria. These include number and type of followers, account privacy, registration date, and use of geotags. There are 3 types of followers:
- Real users – Active followers that interact naturally with the creator’s content.
- Does not see content – Real followers but are not seeing the content. These are either inactive or non-participatory accounts.
- Suspicious accounts – These are either Instagram robots and people who use purchase likes, comments, and followers.
10. Influencers in the 10k-100k follower range offer the best combination of engagement and broad reach
As a result of their research, Markerly believes that influencers in the 10k-100k follower range are the micro-influencers that brands should focus their influencer marketing on – not celebrities with huge followings but low engagement. Also, micro-influencers have 22.2 times more conversations weekly about recommendations on what to buy when compared to an average consumer.