This is a preview of the INFLUENCER MARKETING 2019 search report from Business Insider Intelligence. 14-Day Risk Free Trial: Get full access to this and all Digital Media industry search report.
As influencers are becoming ever more plentiful and proven, label dollars have inundated into the space. Brands are supposed to spend up to $15 billion on influencer marketing by 2022, per Business Insider Intelligence estimations, based on Mediakix data.
Partnering with influencers is already familiar to many brands, but the market is undergoing constant change: Brands must constantly evolve their strategies accordingly. The market is rapidly expanding as influencer types have proliferated, with influencers filling every conceivable niche and sub-niche interest. Each of these types offer distinct benefits and trade-offs for brands. In addition to being able to luminaries with massive followings like Kim Kardashian West and Kylie Jenner, labels are increasingly tapping other key influencer types, including micro- and nanoinfluencers, kidfluencers, gaming influencers, and virtual( computer-generated) influencers.
As social media becomes more entrenched in people’s lives and takes on more functional utilizes beyond communication, like patronize, the responsibilities of the influencers is set to only grow. And as e-commerce and social media converge, influencers will become increasingly vital intermediaries, helping to connect brands with customers on social media in highly resonant, authentic modes that can deliver immediate returns.See the rest of the narrative at Business Insider
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