8 Influencer Marketing Statistics to Guide Your Strategy in 2019 and Beyond

1. Market Growth: The influencer marketing industry is expected to grow to **$24 billion** by 2024, highlighting its increasing importance in marketing strategies.

2. Platform Preference: **79%** of brands using influencer marketing consider Instagram as a key platform for their campaigns.

3. Ongoing Relationships: **71%** of marketers believe that maintaining ongoing relationships with influencers is crucial for success.

4. Spending Trends: In **2019**, brands spent **$2.42 billion** on influencer marketing, reflecting its growing significance.

5. Engagement Rates: Micro-influencers often achieve higher engagement rates compared to larger influencers, making them valuable partners.

6. Purchase Influence: Influencer recommendations can significantly impact **purchasing decisions**, as followers view them as trusted sources.

7. Terminology Matters: Many content creators prefer to be referred to as **creators** rather than influencers, which can affect partnership dynamics.

8. Fraud Trends: Influencer fraud has been gradually declining since **2019**, leading to improved trust in influencer marketing campaigns.