Influencer Marketing Report: Q2 2023

The Influencer Marketing industry is growing rapidly, and marketers are leveraging tools to effectively reach and engage with their target audience

Significant TAM expansion

  • The pandemic accelerated the shift towards influencer marketing due to its appeal in delivering authentic and relatable content to engaged audiences spending more time online
  • The industry reached $16.4 billion in 2022 and is on track to grow to $85 billion by 2028

Growing role of technology

  • Brands are increasingly seeking to automate the influencer marketing process and utilizing AI intelligence tools to find the ideal influencer that aligns with the brand’s values and to track campaign performance

Strong Market Activity

  • Influencer Marketing focused platforms raised more than $800M in funding in 2021 – a trend that will continue to increase in upcoming years. While the ecosystem is fragmented, there could be significant opportunities for investment into and consolidation of B2B SaaS and tech enablement solutions

Going forward

  • Companies are increasing marketing budgets and the budget share of influencer marketing is also increasing. Going forward, there will be a greater demand for niche-oriented influencer-generated content that is authentic

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