6 Influencer Marketing Statistics You Need to Know in 2024

New year, new strategies?

So often I’ve seen brands have a tough time with influencer marketing within the first month, so they write it off completely in the following month.

But like most things worth having, influencer marketing isn’t always* instant. And if you let the right systems kick in, you’ll see the reward of this one strategy alone build both direct sales and heavy brand credibility.

For those of you hoping to refine or try influencer marketing for 2024, here are some noteworthy statistics to consider before starting:

1. 92% of brands plan to increase their influencer marketing budget or the role of influencers in their marketing plan in 2024

Most brands who have engaged in influencer marketing in 2023 only plan to increase their spend on influencers + the role that influencers play in their current strategy for 2024.

2. On average, brands can earn $5.78 for every dollar spent on influencer marketing

No, influencer marketing isn't just brand awareness and it does provide a direct ROI. But allow a campaign at least 90 days to be refined and targeted for scaling.

3. TikTok influencers with 1,000 to 5,000 followers have a huge 15.04% engagement rate.?

Micro-influencers are bigger superpowers than most brands assume. Because they have a very concentrated following that's often very particular to a specific niche, they also have a very high engagement rate with their audience. More engagement means more trust. So never write off micro-influencers in your strategy.

4.? 68% of brands and 80% of creators plan to increase their presence on TikTok.

As TikTok continues to play a key role in driving sales for brands, the platform remains extremely popular among marketers — and even more so among influencers. Plus, with the rise of TikTok Shop, the purchase experience has become seamless for buyers on this platform.

5. 94% of brands are planning to invest more in video content.

The high engagement rates that YouTube and TikTok garner validate that videos present a bigger opportunity in the future. Some of the best video content is "behind-the-scenes" video content. Consumers want to know the 'back-end' of the products they consume more than ever before.

6. 52% of brands are already running brand ambassador programs to build deeper, more genuine relationships with creators.

In addition to their influencer partners, more than half of brands worked with brand ambassadors in the past year, indicating a growing shift to evergreen campaigns and long-term brand partnerships.

One-time influencer campaigns often create huge peaks, followed by sudden drops in engagement and sales. Using an evergreen all-in method with your influencer program will yield larger, more stable long-term results.

Wrapping up

Whether it’s tapping into Instagram’s high reach or leveraging the viral power of TikTok, the right influencer can propel your brand into the digital spotlight and build credibility. It’s not just about impressive numbers; it’s about a strategic alignment that can provide deeply impressive ROI. If your objective is to be a brand that not only exists but excels in this competitive market, then it’s probably time to turn these statistics into strategies for your brand.

Need assistance with your influencer marketing strategy?

InfluencerNexus is here to walk you through this complex yet rewarding world with insights that are backed by irrefutable data-driven results.

Whether you are a fledgling business wanting to make an impactful entry or an established brand aspiring for deeper consumer relationships, we offer novel solutions that fit into your larger marketing ecosystem in 2024.

Become a Trendsetter – get in touch with us today!