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in 2022, more than 75% of brands had a dedicated budget for influencer marketing, and 68% of companies surveyed said they planned to increase their influencer marketing spend going forward. Influencer marketing is on the rise, and it’s more likely than not that your company will soon engage in this kind of marketing strategy if it hasn’t started already.
Influencer marketing refers to any collaboration between an online influencer and a company to market their product or service. These collaborations can be very fruitful if done correctly, but if done wrong can be a complete waste of money. At their best, influencer-based marketing strategies can boost brand awareness, bump up sales and generate buzz and free publicity for your company. However, if the collaboration isn’t genuine, the audience can pick up on that, and your influencer marketing strategy could quickly wind up a complete flop.