According to a recent study, marketing spend on influencers will increase 3.5 times more than traditional social ad spend this year. That is a significant variance, and the study revealed this is evident across every major social media platform.
As for the clear winner when it comes to influencer marketing, that honour goes to TikTok, where influencer spend grew by almost 30%.
When it comes to how influencers are generating income, sponsored content takes the prize, with 82% of marketers following that route. Affiliate marketing comes in at 56%, and advertising revenue rounds things out at 33%.
So what does this mean for you and your brand? Influencers are active on both the B2C and B2B fronts, so whatever your industry, it’s worth mapping out an influencer strategy. This is now a core digital marketing tactic that cannot be ignored.