Time to get your followers up. Social media influencer marketing has emerged as a crucial advertising strategy for companies to create credible visibility of products through trusted third-party tastemakers.
Facebook Inc FB's Instagram has become the go to platform for companies to partner with influencers; the Instagram influencer market is currently a $1 billion industry and is expected to double by 2019. Instagram continues to grow; it added 100 million users in the last six months, with 400 million users who check the platform daily.
The Influencer Market
With traditional TV advertising declining, more companies are opting for different marketing strategies, and influencer marketing has become one of the hottest trends. According to a report from MediaKix, influencer marketing is one of the fastest growing advertising categories in advertising, projected to be a 5 billion–10 billion industry by 2020, with Instagram serving as the leading platform.
Some of the biggest company’s in the world have jumped on board, including Target Corporation TGT, H & M Hennes & Mauritz AB HM, Samsung Electronics Co Ltd SSNLF, American Express Company AXP, Toyota Motor Corp (ADR) TM, Fairmont and Microsoft Corporation MSFT.
Adidas AG (ADR) ADDYY recently announced it was ditching traditional television ads in favor of digital marketing, and this trend is expected to continue. Companies simply can't ignore the influencer market, and it has been particularly critical for startups looking to gain exposure.
The average follower size for accounts posting sponsored content was 32,000.
“As long as Instagram remains a discoverable place for influencers to effectively and easily create and share engaging content, the Instagram influencer market will continue to grow and evolve. And knowing the value of the Instagram influencer market is a key part of finding the pulse of the market as a whole,” concluded the report.
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