Thinking of boosting the sales of your products with Social media marketing? Well, influencers are the best way to go about it.
But how well does Influencer Marketing work with eCommerce?
In this post, I’ll help you figure that out by sharing some cold, hard numbers. Let’s get started.
Influencer Marketing In eCommerce Statistics: Full Breakdown
Now, let’s go through all the details and analyze the numbers.
- The influencer marketing market skyrocketed to a whopping $21.1 billion in 2023. This means more opportunities for eCommerce businesses to tap into influencer partnerships, boosting sales and visibility.
- In 2021, the US spent about $4 billion on influencer marketing. It’s expected to jump to $5 billion in 2022. For eCommerce, this shows influencers are a big deal, helping businesses sell more and get noticed.
- The global market is predicted to almost double from $13.8 billion in 2021 to 2025. This upward trend means more businesses worldwide turning to influencer marketing for eCommerce growth.
- Influencer marketing rocks an 11x higher ROI than banner ads. For eCommerce, this means spending on influencers is a smart move, giving big returns and cost-effective promotions.
- Online ads lead in ROI, closely followed by Instagram and YouTube, with 18% of marketers finding them highly effective. For brands, this signals these platforms are gold mines for effective influencer campaigns that get real results with a significant number of extra sales.
- 60% of marketers agree that influencer marketing beats traditional ads in ROI. For eCommerce, it means influencers are not just popular; they bring serious value to promoting brands and boosting sales.
- Spending $1 on influencer marketing brings back $5.20. This shows eCommerce businesses can make serious money through influencer partnerships, bringing in substantial revenue.
- Spending $1 on Instagram influencer marketing brings back $4.87 in value. For eCommerce, this means Instagram influencers can seriously boost engagement and sales.
Dropshipping Influencer Marketing Statistics
- 43% of dropshippers reported trying out influencer marketing.
- 67% of dropshippers that did influencer marketing got at least 1 sale or more.
- Dropshippers that implemented influencer marketing saw a 39% increase in their revenue.
- Dropshippers which implemented influencer marketing spent less than 41% of their budget they’d spent otherwise on other traditional advertising channels.
- There was a 24% increase in conversion rate for those who used influencer marketing while dropshipping than their standard advertising.
- Dropshipping businesses that collaborate with influencers on social media platforms experience a 60% increase in social media followers and engagement.
Statistics About Trends
- More than half (50.7%) of brands working with influencers run online stores, showing a strong connection between influencers and online shopping.
- Nano-influencers (under 5,000 followers) have a huge 5% engagement rate – that’s the best engagement rate possible with Influencer Marketing. This means even smaller influencers can really get people engaged in online shopping.
- A big 77% of marketers prefer working with smaller influencers instead of celebrities. This is good news for eCommerce because it means more relatable and trustworthy content.
- Influencer marketing works best for Gen Z (28%) and Millennials (23%). Even though Gen X and Boomers are a bit behind (being 16% and 9% respectively), influencers like 93-year-old Moon Lin show there’s eCommerce potential across ages.
- Most influencers (84%) are women, making them a big force in eCommerce. Plus, one-third of young women in Gen Z follow influencers, making them a prime audience for online shopping.
- A massive 83% of companies know influencer marketing works. For eCommerce, this means it’s a trusted strategy to connect with customers and boost online sales.
- Small TikTok influencers (under 15K followers) have a huge 17.96% engagement rate, way better than Instagram. This makes TikTok a hot spot for eCommerce, especially for smaller influencers.
- 40% of Twitter users buy things based on what influencers recommend. For eCommerce, this means Twitter is a place where influencers can really drive sales.
- Facebook’s reach dropped to 5.2% in 2021, and only 68% of businesses use its influencer marketing now. This shows that eCommerce brands might need to try new things on Facebook or adapt to the changes happening.
Influencer Cost Statistics
- Nano influencers, known for their strong audience connection, charge about $100 for an Instagram post, making them a wallet-friendly choice for eCommerce businesses looking to showcase their products without breaking the bank.
- Micro influencers (5k-30k followers) are in the range of $172 for an Instagram post, offering reasonable rates that make them a practical option for eCommerce brands, especially when it comes to engaging visual content like videos and stories.
- Power influencers (30k-500k followers) ask for approximately $507 for an Instagram post, suggesting a moderate investment for eCommerce brands seeking to tap into a larger audience through influencer marketing.
- Celebrities (500k+ followers) come with a hefty price tag, such as $2,085 for an Instagram post. While it’s a significant cost, the massive reach they bring can make a substantial impact on eCommerce sales, especially for luxury or high-end products.
- High-profile celebrities like Dwayne “The Rock” Johnson’s might ask as much as $1 million per post, due to the extraordinary reach and influence they can offer, making them an ideal choice for eCommerce brands with substantial budgets.
- Kim Kardashian’s reported asking fee of $858,000 emphasizes the considerable expenses linked to celebrity influencers but also underscores their capacity to generate significant eCommerce sales and enhance brand visibility.
Statistics About Key Challenges in eCommerce Influencer Marketing
- 50% of marketers struggle to figure out if influencers have fake followers or fake likes, causing trust issues and maybe picking the wrong influencers. Using better tools to check if influencers really influence people could help brands.
- 49% of marketers have trouble because social media changes how much people see their posts. The best way to likely take care of this is to focus on making really good posts, putting them up when people are online, and talking with followers more to make sure people see their stuff.
- For 41% of marketers, it’s tough to go from doing occasional campaigns to always having a strategy with influencer marketing. Doing this makes sure a brand is always there, but it needs planning, calendars, and making sure there are enough resources.
- 38% of marketers are worried that it costs more to work with influencers now. To fix this, brands can try talking more with influencers, working with smaller influencers, and being careful about who they pick to work with to make sure they get good results for their eCommerce sales.
- Making a really good plan for how to be creative is hard for 33% of marketers. Brands need to try new things with the products they make, tell stories that people like, and make ads that are more like fun things to watch to get more people to buy things on their eCommerce sites.
- 33% of marketers find it hard to stay updated with what’s happening on social media. The only way to stay relevant is to quickly catch on to new things people like and work with influencers who get what’s popular to get more people to see their products.
- 30% of marketers want to spend less time doing campaigns. Tools that do things automatically, talking better with influencers, and using systems that help manage influencers can help brands use their time better to get more out of their efforts.
- 28% of marketers are worried about their brand being safe. Brands need to make really strict rules, check on influencers more, and keep an eye on what’s happening in real time to make sure the brand is protected and shown the right way in eCommerce.
- Following the rules from the FTC is tricky for 18% of marketers. Being more aware and talking clearly with influencers about the rules can help, making sure everything is trustworthy and fits with what the brand wants in eCommerce partnerships.
- Trying new places like Twitch is hard for 17% of marketers. Testing things out, learning more about new places, and working with influencers who know them well can open up new chances for growth in the eCommerce space.
- 12% of marketers want to do more influencer marketing themselves. Building a team inside needs a plan, training, and good tools to have more control over how influencers help with the brand in eCommerce.
- 48% of consumers are starting to not trust influencers. This is a big problem. Brands need to pick influencers that match what they believe in to make sure people trust them and believe they’re saying good things about eCommerce products.
- 4 in 10 people feel like there are too many products from brands on social media because there are so many influencers. Making things simpler, being real, and working with influencers who fit the brand can help people not get tired of seeing stuff from brands on eCommerce sites.
To sum it up, teaming up with influencers for your online shop is a smart move. The proof is in the pudding—your sales and brand visibility get a serious boost.
When you’re planning your marketing game, think about the big advantages that come with hitching your wagon to influencers.
Sources: Global Influencer Marketing Value (2016-2023) – Statista, U.S. Influencer Marketing Expenditure (2019-2024) – Statista, Instagram Influencer Market Size (2021-2025) – Statista, Nielsen And TapFluence Combined Study, Global Perception of Influencer Marketing ROI 2020 – Statista, Top Platforms for Global Influencer Marketing ROI 2020 – Statista, Influencer Marketing 2020 Report – Influencer Marketing Hub, HypeAuditor, Mediakix, Marketing Charts, ChannelX, Insider Intelligence, IWMBuzz, Business Standard, Influencer Marketing 2021 Report – Influencer Marketing Hub, State of Influencer Marketing 2020 – Linqia, HypeAuditor, Marketing Charts/GWI, Moon Lin – Instagram, Statista, Influencer Marketing 2023 Report – Influencer Marketing Hub, X (Twitter) Blog, State of Influencer Marketing 2021 – Linqia
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