The impacts of influencer marketing and spend
Social media spending has increased slightly over the past six months (15.4%, up from 15.3%) but is still trailing behind levels seen during the height of the pandemic. There is consensus among marketers, however, that social media will continue to increase at a faster pace, reaching 23.5% of marketing budgets in the next five years.
Marketers are also noting the presence of influencers in the social media sphere increasing over the next three years, though not as rapidly as initially predicted in June 2020. The industries leading the way in influencer marketing are consumer-facing companies such as consumer packaged goods (11.3%) and consumer services (10.0%). Energy and banking finance insurance companies, on the other hand, are currently dedicating less than 1.0% of their marketing budgets to influencers and predict small growth in the next three years.
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