Influencer marketing—relying on people who have built a large online presence (“influencers”) to market a product or service—has been a fast-growing trend in recent years. And continued growth is expected: The marketing form has been projected to reach a market size of $13.8 billion in 2021, up from just $1.1 billion in 2016.
Many people associate influence marketing with Instagram users who disclose they were paid to post about certain products on their feed. But it also includes bloggers and other people who regularly produce and share content online, such as podcasters or even professionals with a large email newsletter following.
While many large brands have turned to influencer marketing, small businesses can use it, too. Here are five tips for how to take advantage of influencer marketing for your business: