[eMarketer] Brands renewed focus on influencer marketing
Influencer marketing continues to make inroads in today’s marketing mix with brands keen to include creators in their media plans, a departure from the past when their roles were underestimated.
While the pandemic slowed down investment in influencer marketing among brands in the first half of the 2020, it is equally being credited with its spike in 2020.
A review of 3.5 million Instragram posts carried out by influencer marketing company Fohr and visual marketing platform Later indicated that the average monthly number of sponsored posts was down by 42.9% year over year between April and June 2020.
However, according to a forecast by eMarketer in 2021, 67.9% of US marketers from companies with 100 or more employees will tap influencer marketing in, a 62.3% growth from last year. This is expected to further grow to 72.5% in 2022.
Jasmine Enberg, senior analyst at Insider Intelligence eMarketer and author of the report, “Influencer Monetization 2021: “The pandemic has played a major role in driving wider adoption of influencer marketing. After an initial pause in spending in H1 2020, marketers quickly resumed and even increased spending, as budgetary constraints and studio closures curtailed traditional ad production.”