Influencer Marketing Statistics and Facts You Need to Know in 2023

There are a lot of reasons influencer marketing is taking off. It’s relatively affordable compared to traditional advertising, such as TV and print. It provides a means to reach audiences who might not see your brand’s marketing pieces. It’s a growing industry, with new influencers popping up daily, giving brands countless opportunities to find partners for social media campaigns. But perhaps most of all, influencer marketing has largely become a tool associated with consumer trust.

Just consider for a moment that a 2022 year-end study looking into the effectiveness of influencer marketing found that 62% of social media users trust influencers over A-list celebrities. It’s not surprising, considering these lesser-known content creators tend to be perceived as authentic in their promotions for particular brands, products, and services.

For brand marketers who might still need a bit of a nudge before leaping to work with influencers on their next campaign, we’ve gathered some additional statistics to help you better understand how the tool can be a great investment of your time and budget.

50.2% of respondents say they’ve purchased a product after seeing it used by a social media influencer.

Source: Trust in Influencer Marketing

The big takeaway here isn’t just that influencer marketing works but that consumers respond to videos showing products being used. Whether you sell coffee makers, lipstick, or photo editing software, put tutorials, unboxing videos, and before-and-after testimonials to work for your brand.

42% of 18- to 29-year-olds turn to TikTok to research a product or service before making a big purchase. 

Source: Trust in Influencer Marketing

The youngest of adult social media influencers turns to the short-form video hosting service before coughing up their hard-earned money for big-ticket items. If they’re your target audience, turn your attention to TikTok influencers who share honest reviews of everything from appliances and cars to computers and gaming systems.

63% of respondents say they’ve engaged with a sponsored influencer post.

Source: Trust in Influencer Marketing

Engagement, measured through likes and comments for this study, is an important factor when choosing influencers with whom your brand wants to sponsor. Knowing that disclosure of sponsorship doesn’t “turn off” followers can help ensure that your brand and the influencer won’t be negatively affected by total transparency.

Nano influencers have the highest engagement rates across Instagram, Facebook, TikTok, and YouTube

Source: Marketing Charts

Reach is just one way to categorize influencers, and brands that focus solely on follower counts may not necessarily see a good ROI. Instead, it makes sense to focus on the influencer’s niche to leverage exposure to intentionally targeted audiences.

Nano-influencers — those with fewer than 10K followers — typically have a more engaged and loyal audience. These content creators are often enthusiasts in a specific niche, have earned the trust of their followers, and charge less per post or campaign than celebrities or other mega influencers.

YouTube offers the lowest Cost Per Engagement ($.04) for paid partnerships. 

Source: Marketing Charts

Except for nano influencers on TikTok ($.06 CPE), YouTube showed the lowest cost per engagement across the board. Nano-influencers ($0.25), micro-influencers ($0.15), mid-tier influencers ($0.11), and macro influencers ($0.11) all produced some of the best “deals” for paid partnerships between brands and influencers.

Regardless of the size of the audience influencers boast on YouTube, it’s among the most cost-effective platforms for marketers.

58% of creators produce 2-4 types of content.

Source: Linktree

If you want content tailored to your target audience’s favorite channel, turn to influencers who develop more than one type of content. 

Beyond just imagery and text, search for potential partners among creators who have developed videos, live streams, giveaways, contests, or blog posts to ensure your long-term, cross-channel campaigns can be supported as you expand your content.

86% of all respondents believe that AI-generated content should be disclosed.

Source: Influencing AI 2023

Artificial intelligence has found its way into influencer marketing, but not everyone embraces it simultaneously. 

Consumers who use artificial intelligence tend to trust AI the most, with 77% of all AI users saying it creates better images than average humans. Likewise, the tech-savvy cohorts of younger adults — including Gen Z and younger millennials—are at the forefront of its adoption in influencer marketing, with 42% of 18- to 29-year-olds saying they have embraced AI technology. 

But the one thing 86% of respondents of all ages agreed on? That AI-generated content should be disclosed. As with sponsored influencer posts, your brand should follow best practices in transparency.

Turn these statistics and insights into an actionable plan to help your brand explore potential partnerships with content creators, choose the best channels, and connect with your target audience through influencer marketing. Stay current on the latest regulations for the industry, including disclosures around AI usage and paid sponsorships, and you’ll position your brand to be successful regardless of what you sell.

31% of 18 to 29-year-olds say TikTok is the best platform for influencers to promote a product. 

Source: Trust in Influencer Marketing

The youngest of adult social media influencers turns to the short-form video hosting service to learn about influencer-endorsed products. While this generation also uses YouTube and Instagram for product discovery, their preference for TikTok has grown by 63% in the last year.