We’re betting that when you think of social media influencers, the Kardashian-Jenner gals, and their respective Instagram posts immediately popped into your minds.
In truth though, social media influence goes far beyond celebrities like Kim!
Consider these Statista findings:
- Influencer marketing was worth $13.8 billion worldwide in 2021, double the market value from the year before.
- Instagram is the most popular platform for influencer marketing. With 6.12 million sponsored posts on Instagram in a year, the platform’s influencer marketing value is about $2.3 billion.
- Companies are known to spend their marketing budget on YouTube posts featuring influencers (While YouTube is technically a search engine and not a social media platform, it’s another important channel used by influencers)
- TikTok is another popular platform for influencers.
- For every $1 spent on influencer marketing, the average return on investment (ROI) is around $18.
So, what is the relevance of all this to your side hustle?
The experts have spoken: According to a study by Influencer Marketing Hub in 2021, 90% of marketers give influencer marketing a big thumbs up.
This is probably the foremost reason why you should, too.
And that’s what we’ll be talking about inside this newsletter!
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