‘Despite some naysayers, influencer marketing set for big growth in 2020’ is the headline to an article yesterday on online-video industry site Tubefilter. So who’s pushing back on those naysayers and predicting big growth? Oh: influencer marketing companies.
Have your pinch of salt to hand, then: a report from Influencer Marketing Hub and CreatorIQ claims that the influencer marketing industry will grow from $6.5bn in 2019 to $9.7bn in 2020. Trebles all round! But enough snark: the report is based on a survey of 4,000 people including 34% from brands, 31% from marketing agencies, so it’s a decent effort to take the pulse of industry opinions on influencer marketing. It claims that there are now 1,120 agencies and platforms focused on this particular sector, up from 740 at the end of 2018, but also raises a big red flag around regulation of this sector.
When the report’s authors analysed 4,200 posts from 1,000 fashion ‘micro-influencers’ over a month, it found that only 14% of those posts were “fully compliant and meeting all regulatory guidelines”. That’s up from 11% in last year’s study, but still paltry. It also hails a “clear move from mega-influencers to micro-influencers” noting that “there are now 10 micro-influencers for every mega-influencer, compared with 3 micro-influencers per celebrity in 2016”.