Global Influencer Marketing Industry to See $51 Billion Growth by 2028: Makreo Research

SAN FRANCISCO - Jan. 19, 2023 - PRLog -- 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.

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 would 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.

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.

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.

For more information on the research report, refer to below link:
Influencer Marketing Industry Report: Global Outlook on Emerging Trends and Opportunities (2018-2028) (https://www.makreo.com/report/influencer-marketing-indust...)

Contact Us: –
Makreo Research and Consulting
Send us a query at info@makreo.com