Influencer marketing continues to grow, and the statistics are becoming increasingly impressive. As the year comes to an end, check out the key figures for the United States, published by Statista, for 2023 and go behind the scenes of influencer marketing.
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Booming market for influencer marketing
In 2016, the influencer marketing sector was estimated to be worth $1.7 billion. Since then, the sector has grown significantly, reaching $21.2 billion 7 years later. This figure is set to continue to rise, with projections putting it at $22.2 billion by 2025.
Statista, 2023, Influencer marketing market size worldwide from 2016 to 2023 (in billion U.S. dollars), https://www.statista.com/statistics/1092819/global-influencer-market-size/
Statista, 2023, Leading platforms for influencer marketing worldwide as of January 2020, https://www.statista.com/statistics/1241723/platforms-influencer-marketing/
Instagram takes the lead ahead of Youtube and Facebook
Instagram is the world’s most powerful social media in terms of influencer marketing. In fact, 89% of marketing professionals put it in first place, closely followed by Youtube (70%) and then Facebook (45%). TikTok was not included in this ranking, but we know that this platform is also widely used for influencer marketing.
Brand budgets for influencer marketing reach new heights
The budget used by advertisers for influencer marketing is spectacular: it will reach more than 30 billion dollars in 2023. This type of marketing is extremely popular with brands, and is expected to reach over 47 billion dollars by 2027. In 2023, no less than 36% of brands will devote 30% or more of their annual marketing budget to influencer marketing. China leads the way in terms of investment in influencer marketing, with a total of 16.6 billion dollars.
Statista, 2023, Share of marketing budgets spent on influencer marketing worldwide as of February 2023, https://www.statista.com/statistics/268641/share-of-marketing-budgets-spent-on-digital-worldwide/
Statista, 2023, Number of influencers brands worked with worldwide as of February 2023, https://www.statista.com/statistics/1257613/number-influencers-brands/
More and more brands are working with influencers
Brand-influencer collaborations are still booming. 12% of brands worldwide have worked with more than 1,000 influencers, 11% have collaborated with between 100 and 1,000 content creators, 21% of advertisers have partnered with between 10 and 50 influencers, and finally a majority of brands – 39% – have teamed up with 10 or fewer influencers.
Influencer pricing scale
Prices can range from $20 to over $7,000 per post. Nano-influencers (less than 10,000 followers) generally charge between $20 and $100 per post, micro-influencers (10-50,000 followers) between $35 and $450, medium influencers (50-500,000 followers) between $150 and $2,500, macro-influencers (500-1 million followers) between $250 and $7,000 and mega-influencers or celebrity influencers (over 1 million followers) from $1,200.
It’s also interesting to note that the influencers with the highest engagement rate are micro-influencers at 2.53%. The average engagement rate for an influencer on Instagram is 1.9%.
Statista, 2023, Average price per post of Instagram influencers worldwide in 2022, by number of followers (in U.S. dollars), https://www.statista.com/statistics/1250908/price-per-post-instagram-influencers-worldwide/
In a nutshell
In 2023, the world of influencer marketing has experienced explosive growth. The figures speak for themselves: brand investment has increased dramatically, offering a multitude of opportunities to collaborate with influencers of various sizes and at appropriate rates. This rapid evolution underlines the crucial importance of influencers in today’s marketing strategy.
