As an influencer, you work hard to position yourself as an expert in your niche to gain the trust and loyalty of your audience. That’s on top of creating engaging content that resonates with your followers. Because of the connection you have, people turn to you for advice and recommendations on products and services.
Being an influencer allows you to be creative and show a unique point of view. While most of the job is about channeling your creative side, there are influencer marketing statistics you should know so that you can analyze what works for you and what doesn’t.
Key Metric Statistics
Influencer marketing isn’t just about developing strategic campaigns that benefit both parties. It’s just as crucial to measure the performance of your efforts to know if you’re going in the right direction. Each marketer will have different measures of success depending on their goals, but statistics show that some key performance indicators (KPIs) are more significant than others.
Some of the most frequently used KPIs include:
- Audience growth – Measures the increase in a brand’s social media following after collaborating with an influencer on a campaign.
- Brand awareness – Refers to consumers’ familiarity level with a brand, including its name, logo, products or services, and other assets.
- Conversion – When a consumer responds to a call to action, whether signing up for a newsletter, purchasing a product, or completing a lead generation form.
- Click – How many times a post generates a click.
- Sale – When a product or service is purchased from an affiliate link provided by the influencer.
- Engagement rate – Measures the average number of interactions the social media posts get per follower.
- Reach – Counts the number of social media users that see your content.
- Share of voice – Refers to how many people are talking about your brand on social media, usually expressed as a percentage of total mentions within your industry.
Earned Media Value Influencer Marketing Statistics
Earned media value (EMV) is an essential performance metric in influencer marketing. It measures the generated value of your influencer marketing campaigns, considering factors like interactions, reviews, ratings, and brand recommendations. EMV tells you what you’re doing right and what you should improve to boost audience engagement and brand awareness.
In the last few years, businesses have started recognizing EMV as a good indicator of their campaigns’ ROI. In Influencer Marketing Hub’s benchmark report, 80.7% of respondents favor the metric.
Influencer Reach Rate Statistics
Reach tells you how many unique people have seen your social media post, while reach rate measures the percentage of your followers that saw your post. If you have 20,000 followers and 5,000 saw your post, your reach rate is 25%.
Reach rate is an essential metric in influencer marketing, including affiliate marketing, because it helps you analyze the effectiveness of your campaigns.
So, what are average reach rates for influencers?
According to The Cirqle’s benchmarks, nano-influencers with 1,000 to 9,999 followers have an average reach rate of 13.2% per post. As for micro-influencers with 10,000 to 49,999 followers, they hit an average of 15.7%. Meanwhile, macro-influencers with 500,000 to 999,999 followers deliver an average of 3.2%.
Influencer Marketing Trends in 2024 According to Statistics
Influencer marketing has been around for decades. But as with all marketing strategies, it continues to evolve along with the social media landscape.
So, what are the influencer marketing trends in 2024? These statistics give insight into how brands and influencers are collaborating.
Leveraging AI
It’s no secret that many businesses leverage AI to boost efficiency and help with automation. Influencers are no different. According to Forbes, 52% of influencers and 76% of marketing agencies use AI tools and platforms to find partners, analyze performance, and enhance content creation.
Niching Down
As the competition on social media intensifies, influencers are niching down to set themselves apart and capture brands’ attention. Gone are the days when influencers could get away with sharing general lifestyle tips. For example, if you’re part of the beauty niche, you have to focus on specific topics like anti-aging tips or how to care for curly hair.
When you’re able to attract your target audience, you can measure your success through KPIs. Generally, you’ll see increased link clicks and sales, boosted visibility, higher engagement, and more feedback from your followers.
Expanding to TikTok
TikTok isn’t just for the Gen Z audience anymore. The platform is expanding its reach and tapping older generations to join the fun. But even as more Gen X users engage in TikTok content, brands only allocate an average of 5% of their marketing budget to this demographic. That’s a chance for marketers to widen their reach and tap Gen X’s high purchasing power.
“Granfluencers,” or web-savvy retiree influencers, are also gaining traction on the platform. They’re breaking the stereotype of what influencers should be and shifting their audience’s attention to more authentic, less staged content.
Growing on LinkedIn
The engagement rate on LinkedIn is at an all-time high as people continue to seek new opportunities and grow their careers. LinkedIn’s report states a 22% increase in the main feed’s update views and a 25% jump in public conversations on the platform.
Focusing on Social Commerce
Social media is no longer about just raising awareness. Facebook, Instagram, and TikTok have all expanded to social commerce, facilitating purchases between businesses and customers.
Live shopping takes social commerce to the next level, giving consumers an immersive and interactive experience. With the growth of social commerce, brands have more incentive to collaborate with influencers on strategic marketing campaigns.
Increasing Popularity of Nano and Micro Influencers
Aspiring influencers might be worried about not having enough followers. So, how many followers do you need for influencer marketing? The good news is a small follower count won’t hinder you from landing brand deals in 2024.
Businesses are more keen on collaborating with nano and micro influencers because of their impressive reach and engagement rates. Not to mention, they’re more cost-effective than macro-influencers.
Even though nano influencers have less than 10,000 followers, they have a 33.8% feed post reach rate and a 4% feed post engagement rate, according to AgencyAnalytics. That’s a significant difference from macro-influencers’ 10.1% reach rate and 1.3% engagement rate.
Grow Your Career and Earn As an Influencer With Mavely
If you want to pursue a career as an influencer, now is the perfect time to do so. Brands are more aware than ever of the value of influencers and how they can contribute to reaching target KPIs. Nano and micro influencers are especially popular because they deliver impressive reach and engagement rates.
Whether you’re a family, beauty, fitness, or sales influencer, Mavely can help you grow your career and earn through affiliate marketing. Having a small following is not an issue! We also have real-time analytics that can help you track the performance of your affiliate marketing campaigns. In addition, you can easily watch your earnings grow with every click and sale you make. Sign up for your free account today!
