What is the average return on investment for influencer marketing?

Influencer marketing, according to a survey published in 2019 by the Influencer Marketing Hub, produced an average of an eleven times higher return than banner ads. The study suggested that on average, marketers earned $6.50 for every $1 invested. Analytics determined that social media influence since then has drastically increased, resulting in another study that revealed Influencer Marketing earned an average of $18 per every dollar spent as of 2020.