Influencer marketing came on the digital scene in the early 2010s. Skip forward to 2024, and it’s now a multi-billion-dollar industry. Yet, even with all that money flying about, brands still need help finding the right influencers and building successful campaigns.
The potential is enormous. Companies that figure it out see an awe-worthy return on investment—an average of $5.78 for every $1 spent, or 478%. Unsurprisingly, many brands are jumping on the bandwagon, ready to spend big on influencers.
The following chart, using numbers from Influencer Marketing Hub’s State of Influencer Marketing 2024 Benchmark Report, shows how much of the budget brands plan to spend.
But influencer marketing isn’t a cure-all.
In this article, I’ll show you the challenges you might face with the strategy and how new AI tools can help. I’ll also share a few best practices you can follow to launch better campaigns and get real results.
