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in 2022 more than 75% of brands had a special budget for influencer marketing, and 68% of the companies surveyed said they plan to increase their influencer marketing spend in the future. Influencer marketing is on the rise, and it’s more likely that your business will start using these kinds of marketing strategies soon, if it hasn’t already.
Influencer marketing refers to any collaboration between an online influencer and a company to market their product or service. These collaborations can be very fruitful if done correctly, but if done wrong they can be a complete waste of money. At their best, influencer-based marketing strategies can increase brand awareness, drive sales, and generate buzz and free publicity for your business. However, if the collaboration isn’t real, the audience can pick up on that and your influencer marketing strategy can quickly become a complete flop.