Credit: Influencer Marketing Hub
There’s no denying that influencer marketing is lucrative. The market grew from $1.7 billion in 2016 to $9.7 billion in 2020. In 2021, it soared to $13.8 billion, indicating a steady growth. This year, the market is projected to expand to a whopping $16.4 billion industry.
Influencer marketing, which involves a collaboration between brands and influencers, is a powerful approach that can help companies grow. It’s a marketing strategy that has been successfully used by thousands of businesses and brands and has experienced continued growth over the past decade.
Influencers are individuals with specific niches and have a significant online following. As they are viewed by their followers as trustworthy experts in their field, they can effectively impact their audience’s purchasing decisions. Their recommendations or endorsements can help brands expand their reach and generate leads.
This year, despite the impact of Covid 19 upon the world, the influencer marketing industry is still as popular as ever with brands and marketers, and it’s expected to grow even more. It has become an integral part of marketing plans, and there have been numerous studies on its effectiveness.
Here are 100 interesting facts, quotes, and statistics related to influencer marketing.
Credit: Jacinda Santora, 03/29/2022