Valued at a record $16.4 Billion worldwide, influencer marketing has become a necessity for organizations seeking to impact consumers. The industry is expected to expand further in 2023, even as organizations continue to evaluate how to manage their operations and scale their growth in the face of economic uncertainty. According to HubSpot, marketers overwhelmingly plan to increase or maintain their influencer marketing budgets in 2023. Additionally, our recent survey of 100+ marketers found that the majority of marketers who made marketing budget reductions didn’t decrease their creator marketing budgets.
In other words, organizations making adjustments to their marketing budgets still invest in creator-led marketing—even when that requires pulling budget from other sources. While the industry has experienced complex evolutions such as platform adjustments, some organizations have improved their bottom line while cutting their expenditures. How can these organizations ensure success no matter the economic climate?
It’s simple: influencer marketing. The next wave of influencer marketing will require innovative strategies that go beyond tasking a creator to boost awareness. In this report, we explore how industry leaders like Tiffany & Co., Crocs, Doritos, and Moët & Chandon approach creator- led marketing. We selected both luxury and casual brands to showcase a range of creator-led marketing strategies that reflect consumer trends.