10 Influencer Marketing Statistics for 2020
2020 was an interesting year, to say the least. While many industries were hit hard, influencer marketing flourished among the sudden boost in social media usage. With the industry growing rapidly and more and more brands adopting the use of influencers, 2021 is looking to be another breakthrough year for influencer marketing. Below are 10 interesting statistics regarding influencer marketing in 2020.
1. Businesses made $5.20 for every $1 spent on influencer marketing
A 2020 survey by Influencer Marketing Hub demonstrates how lucrative influencer marketing can be for brands who engage in it.
The top 13% of companies made $20 or more for every $1 spent. With only the bottom 25% failing to generate any revenue. Meaning 75% of brands saw some return on investment from influencer marketing.
2. 63% of marketers will increase their influencer marketing budget for 2021.
Nearly 2 out of 3 brands who work with influencers intend to increase their spending in 2021, with 17% expecting their influencer marketing spend to remain the same.
3. YouTube yields the most influencers making millions in 2020
Wondershare has researched to find the YouTubers who earned the most in 2020. Below is a list of the top 6 highest earning YouTubers:
- Daniel Middleton (DanTDM) - $16.5 million
- Evan Fong (Vanoss Gaming) - $15.5 million
- Dude Perfect - $14 million
- Mark Edward Fischbach (Markplier) - $12.5 million
- Logan Paul - $12.5 million
- Felix Kjellberg (PewDiePie) – 12.5 million
4. 61% of marketers say finding relevant influencers for a campaign is difficult
Mediakix conducted its annual Influencer Marketing Survey in 2020. The survey showed that 61% of marketers struggled in finding relevant influencers for a campaign. Using tools like Collabstr’s Influencer Search Tool can make finding influencers for your campaign simple and quick.
5. Nearly 80% of fashion influencers prefer Instagram over other social media
Fashion is a highly visual niche. So, it makes sense that 77% of fashion influencers prefer Instagram as their go-to social media. In comparison, only 31% of entertainment influencers prefer Instagram as it is a less visual niche.
6. 40% of Twitter users say they’ve made a purchase as a direct result of a Tweet from an influencer
Twitter partnered with Annalect to study user’s receptiveness to influencers on Twitter. The results show that Twitter influencers have created a high level of trust for people to be confident enough to purchase something on behalf of their recommendation.
7. 70% of teenage YouTube subscribers say they relate to YouTube creators more than traditional celebrities
This statistic provided by Google emphasizes the difference between the generations when it comes to influencers and celebrities. Television has had a far smaller impact on Generation Z compared to previous generations. Hence the far less interest in traditional celebrities among teenagers. The pandemic only enhanced this, as youtube and social media usage rose, while TV/Movie production shutdown, leaving a gap in entertainment to be filled.
8. 91% of millennials trust online reviews as much as friends and family
In BrightLocal’s Local Consumer Review Survey for 2020 It was revealed that 91% of millennials trust an online review as much as their own friend or families. This, of course, is another reason why influencers try to be authentic with their followers and in doing so, can provide a massive amount of trust to brands through their following.
9. 210 million people use Snapchat daily, making it a highly viable influencer marketing channel
Snapchat has quickly grown to 210 million daily users. Being particularly popular among teenagers, it can provide brands who target the demographic enormous potential for influencer marketing.
10. 17% of brands budgeting for influencer marketing in 2020 were planning to spend $500,000 or more
Mediakix discovered interesting results when surveying brands on how much they intended to spend on influencer marketing in 2020. 7% intended to spend over $1,000,000 alone on influencer marketing, with 10% between $500,000 and $1,000,000. 15% were simply going to test the waters, with a budget of up to $1,000.