INFLUENCER MARKETING MARKET SIZE IN 2024

Find below the influencer marketing market size in 2024.

Curated by Mau, a Senior Digital Marketing Specialist at eDigital.

INFLUENCER MARKETING MARKET SIZE IN 2024

By the end of 2024, influencer marketing is expected to become a USD 24 billion industry, according to the Influencer Marketing Hub.

Trending > The best influencer marketing platforms

influencer marketing market size chart

Influencer marketing pays Social Media celebrities Internet celebrities to talk about products in their social media accounts to their followers. Influencer marketing already won massive popularity for marketers who would rather not shell out for the relatively old traditional advertising tactics.

Marketers are reading > How to create an employee influencer program

INFLUENCER MARKETING MARKET SIZE

Below are some key reasons marketers around the world are shifting budgets to influencer marketing:

Lower costs
Production is handled by the influencer in most cases.
influencer posts don’t get shut down by ad blockers and can be highly targeted
People trust and identify with social media influencers and celebrities

Most view today > How to write the best influencer brief and template

“Influencer Marketing market size will continue to explode as more Gen Z are entering the workforce, having disposable incomes and high social media consumption while more marketers are shifting traditional marketing dollars into more influencer programs”

Mau

You will also like > How to choose the right influencer

Marketers are also reading: How much do influencers charge?

CONCLUSION

Knowing the market size of influencer marketing is important for marketing strategic planning, marketing resource allocation and competitive analysis.

The influencer marketing market size can also help marketers with forecasting.

By leveraging market size data effectively, marketers can maximise the effectiveness and efficiency of their influencer marketing campaigns and drive sustainable brand growth.

eDigital can help you conceptualise, plan, develop, run and optimise successful influencer marketing campaigns that generate leads and sales for your brand.

Our digital marketing services include:

Strategic planning for social media and other digital marketing channels.
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SEO strategy and execution. Including content development:articles, stories, eye-catching and SEO-optimised visuals.
Celebrity and influencer marketing campaign strategy.
Brand development. Logo creation, brand personality development and design of marketing materials.
Consumer contests/competitions/giveaways.
Email marketing. Dip sequence design and deployment.
Conversion rate optimisation. It is also called “path to purchase” optimisation.

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