Four Strategies For Finding Influencer Monetization Opportunities in 2023
Influencer marketing continues to be incredibly popular among brands.
From 2016-2020, the market grew from $1.7 billion to $9.7 billion, and it is expected to see explosive growth to at least $16.4 billion by the end of 2022.
Influencer Marketing Benchmark Report 2023
In addition to this steady and impressive market growth, the number of influencer marketing service providers is also growing in an effort to stay on pace with the industry.
In 2021, influencer marketing-related businesses totaled 18,900 around the world, a 26% jump from 2019.
Key Influencer Marketing Statistics to Drive Your Strategy in 2023
Many of these are agencies and platforms like ConvertSocial, which connect influencers to appropriate brands and help them earn money via their social network of choice. Brands are making a drastic shift in their marketing tactics, turning towards the new age of nano-influencers with minuscule followings as small as 500! The reason? To penetrate highly targeted audience segments, foster brand loyalty, and most importantly, establish trust with their target market.