Influencer marketing spending in the United States is expected to increase by more than 30% this year, surpassing a significant milestone. According to Insider Intelligences’ first projection, influencer marketing spending in the United States would top $3 billion in 2021 and $4 billion the following year.
It is argued that word-of-mouth referrals from people we know are the only form of marketing that has ever been consistently successful. That’s also the one media that marketers haven’t had much success with in the past. Celebrity endorsements were the closest thing to knowing the individual, but knowing who the person is on television isn’t the same as knowing the person. Influencer marketing has evolved over the last decade as a result of its ability to effectively meet this need.