Global Influencer Market is Bolstering Rapidly with Swift Increase in Number of Internet Users and Growing Engagement on Different Social Media Platforms

 

Influencer marketing is basically a new form of social media advertising involving product placement and endorsements from other entities, people, and institutions that have professed expert status in their particular field. They are typically small business owners, individuals, and brands who seek to be associated with the products of larger companies through the use of a professional. For businesses, they are a great way to spread the word about their company by associating themselves with other companies or products that are much like what you are already offering. Companies use influencer marketing techniques to become more accessible to their target market on a more personalized level. Influencers make use of several different online strategies in order to promote their businesses and brands. Some of the most popular methods include using sponsored posts, blogging, social media management, and even Twitter lists. 

 

Increasing number of internet users worldwide is expected to drive growth of the global influencer market. The number of internet users has increased significantly over the years with the advent of high-speed and affordable internet facilities. According to Our World in Data, the number of internet users increased from around 413 million in 2000 to over 3.4 billion in 2016. This, in turn, has increased the use of various social medial platforms such as Facebook, Twitter, Instagram, and YouTube. According to the Pew Research Center, in 2019, around 69% of U.S. adults said that they have used Facebook, while 73% of the population used YouTube. Influencers are taking advantage of increased engagement of such social media platforms for promotional purposes and to raise brand awareness for the company’s products. Thus, these factors are expected to drive growth of the global influencer market. Furthermore, growing urbanization, disposable income, and changing lifestyle is expected to boost the global influencer market growth over the forecast period.

However, increase in a number of fake or sock puppet followers is expected to restrain growth of the global influencer market. Besides, advancements in Big Data analytics and artificial intelligence can present lucrative growth opportunities in the global influencer market in the near future. Among regions, North America is expected to witness significant growth in the global influencer market during the forecast period. This is owing to the early adoption of new technologies and rapid urbanization in the region.

Key companies involved in the global influencer market are IZEA Worldwide, Talent Village Ltd., Quotient Technology Inc., ExpertVoice Inc., JuliusWorks, Inc., AspireIQ, Insense Ads, Inc., Brandwatch, The Room, and Blogmint.

For instance, in May 2020, JuliusWorks, Inc., a U.S.-based software solutions provider, acquired HYPR Brands, a data-driven influencer marketing platform.