The social influencer marketplace has become explosive, as brand dollars flood the space, according to Business Insider.
In fact, brands are estimated to spend up to $15 billion on influencer marketing by 2022. “As social media becomes more entrenched in people’s lives and takes on more functional uses beyond communication, like shopping, the role of 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 consumers on social media in highly resonant, authentic ways that can deliver immediate returns.”
On Instagram, for example, as noted by Statista, the global Instagram influencer market is expected to grow from $1.3 billion to nearly twice that amount this year. All as markets seek to maximize the reach of their marketing messages to promote products and services.