Key regions: France, China, United Kingdom, United States, India
The Influencer Advertising market in NAFTA is experiencing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences have shifted towards more personalized and authentic content, leading to the rise of influencer advertising. Consumers are increasingly seeking recommendations and endorsements from influencers they trust, rather than traditional advertising methods. This shift in preferences has created a demand for influencer advertising across various industries and sectors. Trends in the market show that influencer advertising is becoming more targeted and niche-focused. Brands are partnering with influencers who have a specific audience demographic or niche interest, in order to reach a more engaged and receptive audience. This trend is driven by the desire to create more authentic and relatable content that resonates with consumers. Another trend in the market is the rise of micro-influencers. These are influencers with smaller followings but highly engaged audiences. Brands are recognizing the value of working with micro-influencers as they often have a more dedicated and loyal fan base. This trend is also driven by the desire to create more authentic and relatable content, as micro-influencers are seen as more genuine and trustworthy by their followers. Local special circumstances in the NAFTA region also contribute to the development of the influencer advertising market. The region is home to a large number of social media-savvy consumers who are active on platforms such as Instagram, YouTube, and TikTok. This high level of social media usage provides a fertile ground for influencer advertising to thrive. Additionally, the NAFTA region has a diverse and multicultural population, which creates opportunities for brands to target specific ethnic or cultural groups through influencer advertising. Brands can partner with influencers who have a strong presence within these communities, allowing them to connect with consumers on a deeper level. Underlying macroeconomic factors such as the growth of e-commerce and the increasing digitalization of businesses also contribute to the development of the influencer advertising market. As more consumers shop online and spend time on digital platforms, brands are shifting their advertising budgets towards influencer marketing to reach their target audience effectively. In conclusion, the Influencer Advertising market in NAFTA is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards personalized and authentic content, the rise of targeted and niche-focused influencer partnerships, the emergence of micro-influencers, the high level of social media usage, the diverse population, and the growth of e-commerce and digitalization all contribute to the growth of the market.
Data coverage:
Data encompasses enterprises (B2B). Figures are based on influencer advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising fees paid directly to influencers to post sponsored content.Modeling approach:
Market size is determined by a combined top-down and bottom-up approach. We use market data from independent databases, influencer marketing platforms, and third-party reports to analyze and estimate global influencer advertising spending. We start by researching on the average cost per content post on each social media platform, the number of influencers available on advertising platforms (breakdown by tier: nano, micro, macro, and mega), and the average number of posts per year. Then we estimate the market size for each country individually. We use relevant key market indicators and data from country-specific industry associations, such as GDP, social media users, and digital consumer spending. Lastly, we benchmark key countries or regions (global, United States, China, etc.) with external sources.Forecasts:
We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.Additional notes:
Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.
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