INFLUENCER MARKETING The Business of Influencing
Written By Brandon Pierce & Shayla Spradley
B
y now, you have all probably heard the term “influencer”. If you are on any social media platform, you have certainly come across a sponsored post, which means you have experienced an influencer marketing campaign. But what exactly is an influencer and more importantly, what is influencer marketing and how can you use it to grow your business? An influencer is someone who has a dedicated social following within a specific niche and has the power to affect the purchasing decisions of their social audience. Whether you realize it or not, you have probably been influenced to buy a
62 | VEGASLEGALMAGAZINE.COM
product online or at least click-through to learn more about a new product or service. This act of using an individual’s social following to market a product or service, is known as influencer marketing. Influencer Marketing By The Numbers On average, businesses are making $5.20 for every $1 spent on influencer marketing and the top 13% of businesses are making $20 or more for every $1. Influencer marketing is on track to become a $15B industry by 2022, with 63% of marketers intending to increase their influencer marketing budget this year according
