Influencer marketing spending will continue to grow well in 2023, proof that returns are strong. Influencers should therefore not lack work next year or the following ones.
To promote their brand to the general public, companies adept at what is called influence marketing will further inflate their budgets in this area over the next few years. So much so that by 2025, the entire market is expected to grow to an impressive $41.9 billion. Brands therefore intend to bet more and more on influencers.
18% growth expected for influencer marketing next year
” Hey wolves, with my code CLUCLU22 you can get 128% off… No, still, we’re not going to fall into that! And yet, the influencer marketing industry will continue its crazy growth in the coming years, to assert itself as one of the major channels of online advertising.
According AugustaFreePresswhich collected some data from Statista, brands plan to spend no less than $32.5 billion on influencer marketing next year, 18% more than this year’s overall envelope (27.5 billions of dollars estimated).
The very young industry literally exploded with the COVID-19 crisis. Brands have indeed realized that influencer ads boost their reach and improve their search rankings and customer loyalty. The community aspect of social media and the personalities behind them then do the rest.
Influencer marketing didn’t ask for so much, but this one is helped a lot by ad blockers. Because yes, the global average block rate for desktop ads exceeds 43%, which makes it a valuable ally for influencer marketing.
Chinese and American brands are the biggest spenders
By 2025, the influencer marketing market can be said to have almost doubled, with spending increasing from $22.84 billion (in 2021) to $41.9 billion. And when it comes to industry players, Chinese and American brands are investing the most.
In 2022, they alone account for 73% of advertising spending, or $20 billion (including $15.7 billion for Chinese brands). China and the United States have seen their advertising expenditure increase by 19 and 15% respectively in one year on influencer marketing. The United Kingdom is the third country to have spent the most in this sector, with 1.1 billion dollars.
Unsurprisingly, you won’t be surprised to learn that the number of companies specializing in influence marketing has also jumped (+30% in one year!). The market currently seems to offer enough room for a large number of players. Statista tells us that in 2021, 18,900 companies were operating as a service related to influencer marketing. One in three companies comes from the United States.
Source : AugustaFreePress
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