Influencer marketing is gradually becoming an essential component of mainstream marketing strategies across organizations.
It is so successful as it combines both traditional celebrity/public figure endorsements with content-driven marketing techniques.
In 2021, the global influencer marketing platform market was estimated to be worth USD 10.39 billion.
However, in a recent report by ReportLinker, it is expected to grow by $27.39 billion between 2022 and 2026, fuelling rapidly at a CAGR of 31%.
The report segments the influencer market into these categories:
By Application
• Fashion and lifestyle
• Food and entertainment
• Travel and holiday
• Sports and fitness
• Others
By Geographical Landscape
• North America
• Europe
• APAC
• Middle East and Africa
• South America
According to the platform:
“This study identifies the influencer marketing platform gaining customer trust and creating brand image as one of the prime reasons driving the influencer marketing platform market growth during the next few years.
Also, increasing interest in video-based content among the potential target audience and increase in adoption of ad-blocking software will lead to sizable demand in the market.”
2022 predictions for an influencer
The pandemic demonstrated the value of having a digital presence for both influencers & brands. We can expect to see a move toward social commerce in 2022, as more users explore shopping directly from social networks.
This is evident as various platforms are pushing for in-app e-commerce experiences.
Instagram announced that it is testing a native affiliate tool that will allow creators to earn commissions on purchases made via the app.
Moreover, TikTok has been promoting TikTok Shopping and has further expanded its partnership with Shopify.
According to Forbes,
“2019 shows that more than 130 million users tap on shoppable posts each month. We expect the new additions to social commerce functionality will create new opportunities for brand sponsorship and an increased number of sponsored posts for shoppable products”.
With audiences becoming more diverse online and brands seeking online partnerships to stay relevant and in line with consumer demand, there is no better time than now to become an influencer.
The digital transformation we have witnessed from platforms and brands globally have been remarkable and will continue to support influencers in their online service offerings.
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