Industry research focused on IM and its benefits for Brands and Influencers, show that the IM industry started to boom in 2020 following the Covid Pandemic. It is forecast that total industry volume will increase year-on-year. Since Influencers have a significant number of Followers, many Brands now put IM at the center of their marketing activity.
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🟣 The IM industry will continue to grow in 2022:
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The market grew from $4.6 billion in 2018 to $9.7 billion in 2020. In 2021, it soared to $13.8 billion, indicating steady growth. This year, 2022, the market is projected to expand to a $16.4 billion industry. 1 |
Graph 1 - IM Industry yearly market grew statistics (2021)
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🟣 A majority of marketeers have opted to use Influencer Marketing:
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Once considered as something ‘nice to have’, IM is fast becoming an essential component in a Brand’s marketing arsenal. Research shows that 93% of marketeers have used IM in their campaigns, and it’s now considered a core pillar of Marketing strategy. 2 |
Graph 2 - Brand behaviours about IM campaigns (2021)
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🟣 In 2022, Brands are expected to increase their budgets for Influencer Marketing:
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Given that more marketeers are seeing the value that working with Influencers brings, more Brands will engage in IM or increase the budget allotted to it. According to the research, Graph 3 shows that a significant number of Brands tended to increase the amount of IM spending in their 2021 budget. 3 |
Graph 3 - Substantial growth in Influencer campaigns and IM budget strategies (2020)
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🟣 Finding the right Influencers remains the greatest challenge for those who run IM campaigns in-house:
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According to the survey, 34% of respondent Brands who ran IM campaigns in-house described finding appropriate Influencers to participate in their campaigns most difficult. 4 |
Graph 4 - The biggest challenge of the company is finding the right Influencers for marketing (2021)