Global influencer marketing industry on track for major expansion, Makreo Research projects revenue to exceed $51 billion by 2028

Influencer marketing is becoming a widely used strategy for online promotion. In recent years, it has been a buzzword, and the mainstream media frequently makes use of it. Influencer marketing has recently emerged as one of the new tactic for companies trying to grow their customer base, raise brand awareness, and increase conversions. In fact, more than half of businesses started using influencer marketing to grow their business.

➤ Download a sample copy of this report:- https://www.makreo.com/report/influencer-marketing-industry-report-global-outlook-on-emerging-trends-and-opportunities-2018-2028

The increased usage of the internet for advertising has fundamentally altered the business plans of many companies and provided advertisers with new opportunities to reach their target audiences. These promotional activities enable marketers to deliver personalized advertisements, which enhance the consumer experience.

Social media platforms like Instagram, Meta (Facebook), Pinterest, and YouTube have grown significantly for these marketing objectives. It is projected that these cutting-edge branding and promotion techniques will enhance the market prospects for influencer marketing platforms in the upcoming years.

➤ Influencer Marketing Budgets Are Soaring
Influencer marketing witnessed double-digit growth in 2020 and 2021, when practically all industries were experiencing difficulties as a result of the viral outbreak. Despite the fact that some industries, like tourism and transportation, had to make significant concessions, many other enterprises modified their business models to adapt to the negative effects of the COVID (and post-COVID) environment.

Over the past five years, marketers have collaborated with social media influencers on a number of channels to raise awareness. Influencer marketing has grown from a modest supplementary marketing tactic to a USD 5 to USD 10 billion global industry as a result.

In 2020 and 2021, nearly two-thirds of marketers increased their spending on influencer marketing.

➤ Impact of COVID-19
During the COVID-19 pandemic, influencer marketing platforms saw a huge increase in popularity. The production companies and advertising agencies were compelled to postpone the planned commercial shoots due to the government-mandated lockdown limitations, which prompted the businesses to turn to alternative promotion strategies. Influencer marketing was promoted by the increased use of social media during the lockdown. Even after the epidemic, it is anticipated that this pattern will persist.

➤ Further Key Findings:-
➽The Rise of UGC Creators: "User-Generated Content" (UGC) is a type of content that's created by people rather than brands. It's often seen as more trustworthy than paid advertising. Companies using user-generated content as part of their marketing strategy to build credibility for a product can help create a feed full of beautiful content. However, user-generated content takes time to build up, and for newer brands, it can be difficult to get enough content created.

➽Less Filters & Curation: Some social media platforms are using perfectly imperfect content as a way to stand out and be more popular. This trend is being followed by many creators, who are choosing to share more unedited and spontaneous content. This is helping the creators to connect more with their followers in more authentic way.

➽Influencers Subscriptions: Paid subscriptions are being tested by social media platforms, while newsletter services like Sub stack are becoming more and more well-liked among creators. This allows creators to connect with their fans and followers in a more personal way by providing Subscription based content. This type of content distribution is also particularly beneficial to creators who want to build a loyal following, as well as those who want to offer their audience exclusive access to their work.

➽Spotting Fake Followers: Spotting fake is especially common for new influencers. This can have a negative impact on the brand's reputation. In Mediakix's 2019 Influencer Marketing Survey, marketers identified fake followers as their top challenge, with 50% of respondents saying this was the case.

➽More Collaborations to Take Place: In 2023, there will be more connections and collaborations with influencers. There will be more influencer campaigns, which will increase their drive and provide them with more chances to represent businesses and profit from their labors.

Makreo research has published a study titled "Influencer Marketing Industry Report: A Global Outlook on Emerging Trends and Opportunities (2018-2028)". This is a detailed evaluation of the global influencers marketing industry performance that discusses past, present and future outlook of the industry. In recent past industry has experienced many fluctuations due to the external environment thus this study offers analysis of the industry during Pre-COVID-19 period and post COVID-19 scenario. Macro-economic analysis has also been carried out to review the impact of change in external factors over the industry performance. The report shed light upon the recent trends prevailing in the global influencers marketing industry and also assess future outlook of the industry.

Request your customized market research report today and stay ahead of the competition with the latest insights from Makreo Research!
https://bit.ly/Influencer_Marketing_Industry_Report_MakreoResearch

➤ The report examines the Global Influencer Marketing Industry on below parameters:

Period of Study:-
⪼ 2017-2021: Past and Present Scenario
⪼ 2022-2028 : Future Outlook of the industry

Market Assessment:-
⪼ The report examines the Global Influencers Marketing Industry Revenue on various parameters covering performance of the industry in terms of revenue and forecast

Market Segmentation:-
⪼ By Platform: YouTube, Instagram, Tik-Tok, Twitter
⪼ By Organization Size: Large Enterprises, SME
⪼ By End Users: Food & Entertainment, Fashion & Lifestyle, Beauty, Others
⪼ By Geography: North America, Europe, APAC, MENA
⪼By Content Type: Short Videos, Carousel, Statics, Long form Videos
⪼ By Type of Influencers: Nano, Micro, Mid-tier, Macro, Mega

Regions Assessed:-
⪼ North America
⪼ Europe
⪼ Asia-Pacific
⪼ Others

Company's Assessed:-
⪼ Ubiquitous
⪼ Americanoise
⪼ The Influencers Marketing Factory
⪼ Acceleration Partners
⪼ House of Marketers
⪼ Tanke
⪼ Scooperz
⪼ Brand Ambassadors
⪼ AJ Marketing
⪼ inBeat
⪼ ParkLu
⪼ Confluencr
⪼ InCast
⪼ FLUVIP
⪼ Affable.ai
⪼ Influencers.ae

➤ For more information on the research report, refer to below link:-
https://www.makreo.com/report/influencer-marketing-industry-report-global-outlook-on-emerging-trends-and-opportunities-2018-2028

➤ Contact Us: -
Ankit Suri
Send us a query at info@makreo.com

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➤ Related Reports:-
https://www.makreo.com/report/global-online-gaming-industry-and-future-outlook-to-2027-impact-of-covid-19

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Makreo is a Market research and consulting firm working closely with business conglomerates worldwide to help them in many aspects of driving their business growth and assist in making wise decisions with the help of our qualitative & quantitative market insights.

This release was published on openPR.