[eMarketer] Why influencer marketing, still a small slice of digital budgets, seems recession-proof
Marketing budgets, though under scrutiny, are expected to rise in 2023. That’s especially true for influencer marketing due to Instagram’s entrenchment and TikTok’s ascent with users.
Micro-influencers have between 10,000 and 50,000 followers, while nano-influencers have between 1,000 and 10,000 followers, according to Partnerize. What they lack in scale they make up for in engagement, as these communities can be deeply passionate.
TikTok continues to rise in both consumer usage and brand usage, said Enberg, resulting in more money flowing to influencer marketing on the platform.
eMarketer forecasts that companies will spend $5 billion on influencer marketing in 2022, rising to $6.16 billion in 2023. For comparison, we expect all digital advertising spend to hit $248.72 billion this year.