October 1, 2023

Digital Marketing Education

Latest news and events

Global influencer marketing spend expected to hit $34 billion in 2023

The vast majority of the influencer marketing industry’s 2022 growth—roughly 76%—took place in the U.S., and was primarily driven by marketers’ investments in sponsored social media content from both micro- and macro-influencers. Though creators are typically sorted into these labels based on the size of their online followings, PQ Media’s report instead defines “macro-influencer” as a creator whose content revolves around an entire category, such as fashion, and “micro-influencer” as one who specializes in a specific niche within a category, such as footwear.

Marketers invested over $5.3 billion into macro-influencers and another $4.4 billion into brand ambassadors, whom PQ Media classifies as “offline” influencers who promote a brand to friends and family members and in product reviews. In 2022 alone, marketing spend on micro-influencer partnerships soared more than 30% as brands and marketers look to tap into their audiences for less than it would cost to work with a high-profile influencer. 

Sign up for our influential marketing newsletter here

In comparison to the 21.5% boost in influencer marketing investment in 2022, global spending on overall advertising and marketing each grew roughly 10%, according to PQ Media data.

Perhaps unsurprisingly, the majority of influencer marketing spend in 2022 went toward creators and brand ambassadors themselves. Both “strategic service providers,” including influencer and public relations agencies, and platforms offering influencer marketing-related software and research also surged by between 18% and 26%. Influencer marketing agencies alone saw a 22.5% boost in investment in 2022, per the report. 


About The Author

x Logo: Shield Security
This Site Is Protected By
Shield Security