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What Percentage Of Companies Use Influencer Marketing?
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According to Statista, “69.7 percent of U.S. marketers in companies larger than 100 employees are expected to use influencers for marketing purposes.”
With its growing popularity and effectiveness, influencer marketing is a hot topic in the marketing industry. As social media became more popular, these platforms created new avenues that brands could use to market products and services to customers. Influencer marketing is, arguably, the most noteworthy of all of them.
Let’s break down some of the key figures about influencer marketing growth and the impact of influencer marketing on consumer behavior.
How Many Influencers Are There In The World?
It’s difficult to give an exact answer to questions like “how many influencers are there?” and “how many influencers are there on TikTok or Instagram?” For one thing, the definitions of what an influencer is can vary, changing the estimates of how many there are. Some people think you need hundreds of thousands or even millions of social media followers to be an influencer, but that isn’t the case. One of the fun facts about influencers is that almost half of all influencers have between 5,000 and 20,000 followers.
There are also new influencers every day, so the number can fluctuate. Forbes reports that more than 50 million people worldwide consider themselves influencers. The exact number of influencers may be higher or lower than this figure. As for the number of influencers by country, some of the countries with the most influencers include the United States, Brazil, Italy, the United Kingdom, and France.
Do A Lot Of Companies Use Social Media Influencers?
When social media influencer marketing first became an option, some companies were hesitant to pursue it. In the last decade, though, there has been tremendous growth in the influencer marketing industry as more people choose to become influencers and more companies recognize the power of partnering with them for marketing campaigns. Today, many industry leaders and other successful companies turn to social media influencer marketing to help market their products and services.
As of 2024, nearly 80 percent of U.S. marketers at companies with 100 or more employees were expected to work with social media influencers in their marketing campaigns. But what companies use social media influencers? Some of the top companies that work with influencers include:
- Levi’s
- Chipotle
- Audible
- Adidas
- Dunkin’ Donuts
- Magnum
- Häagen-Dazs
- Bigelow Tea
- Sprint
- Old Navy
Many more companies will likely launch their own influencer marketing campaigns this year and in the years to come. It’s no surprise that spending on influencer marketing is expected to reach $6.16 billion in 2024 in the U.S. alone, up from $4.6 billion in 2023.
How Have Influencers Helped Companies?
The reason why all these companies choose influencer marketing is simple — it’s effective. Influencers have helped companies by increasing their conversions and sales, but also by boosting their visibility and credibility. Some of the other benefits of working with influencers for companies include:
- Raising brand awareness.
- Increasing engagement with potential customers.
- Building a larger social media following.
- Entering into new markets.
- Boosting authority in the industry.
- Connecting directly with target audiences.
Emerging Trends in Influencer Marketing
Influencer marketing continues to evolve, adapting to new technologies and shifting consumer preferences. Here are some of the most notable trends shaping the future of influencer marketing:
1. Rise of Micro and Nano-Influencers
While mega-influencers and celebrities have long dominated the space, there’s a growing shift towards micro (10,000-100,000 followers) and nano-influencers (1,000-10,000 followers). These smaller influencers often have highly engaged, niche audiences, making them valuable partners for brands looking to target specific demographics. Their perceived authenticity and closer relationships with followers can result in higher engagement rates and more genuine endorsements.
2. Authenticity and Transparency
Consumers are increasingly skeptical of overly polished, salesy content. Authenticity and transparency are becoming critical. Influencers who are genuine, share personal stories, and openly communicate about their partnerships resonate more with audiences. This trend has led to a rise in long-term brand partnerships, where influencers become true ambassadors, integrating products seamlessly into their content.
3. The Impact of TikTok and Emerging Platforms
TikTok has revolutionized the influencer marketing landscape with its unique format and highly engaged user base. Brands are leveraging TikTok influencers to create viral content and reach younger audiences. Additionally, emerging platforms like Clubhouse and Twitch are gaining traction, offering new opportunities for influencer collaborations and innovative marketing strategies.
4. Emphasis on Video Content
Video content remains a dominant force in influencer marketing. With the popularity of Instagram Stories, Reels, and IGTV, along with TikTok and YouTube, influencers are focusing more on creating engaging video content. Videos allow influencers to showcase products in action, provide tutorials, and connect with their audience on a deeper level.
5. Use of AI and Data Analytics
Artificial intelligence and data analytics are playing an increasingly significant role in influencer marketing. Brands are using AI-driven tools to identify the best influencers for their campaigns, predict engagement, and measure the impact of their efforts more accurately. These technologies enable more efficient and effective influencer marketing strategies.
6. Social Commerce Integration
The integration of e-commerce features on social media platforms, such as Instagram Shopping and TikTok’s partnership with Shopify, is transforming how consumers shop. Influencers can now tag products directly in their posts, making it easier for followers to purchase items without leaving the app. This seamless shopping experience is driving higher conversion rates and boosting the ROI of influencer marketing campaigns.
What Are The Top Influencer Marketing Statistics In 2024?
Influencer marketing statistics in 2024 show how powerful this modern marketing method can be. Consider these stats:
- Companies earn an average of $5.20 for every dollar spent on their influencer marketing campaigns. Though unusual, some top companies can earn a return on investment (ROI) of up to $10 per $1 spent.
- One study shows that the average ROI for influencer marketing campaigns is 11 times higher than the ROI of the average display ad campaign.
- The influencer marketing industry report shows that the industry is projected to be worth $24 billion by the end of 2024.
- 49% of consumers depend on influencer recommendations from social media influencers they follow online.
- 62% of social media users place more trust in influencers than in traditional celebrities.
- 63% plan to use AI in executing their influencer campaigns, 55% of these brands will use AI for influencer identification
How Lionize Can Help With Your Influencer Marketing Strategy
If these social media influencer marketing statistics pique your interest in pursuing an influencer marketing strategy at your company, Lionize can help. As a top influencer marketing platform, Lionize simplifies influencer marketing for brands by managing every step of the process for you.
Our platform will help you define your influencer marketing strategy, find qualified influencers that meet your needs, manage your influencer partners, and track the results of your campaign — all in one user-friendly command center. Take advantage of the power of AI and machine learning within the platform, so you don’t have to do any of the heavy lifting.
Want to see how it works? Book a Discovery Call today to get in touch with our expert team and see Lionize in action.
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