The Influencer Bubble is Popping
But it can still work for you
Influencer marketing has had a pretty good run in the past few years—and brands, looking to move beyond tactics such as banner ads and search-engine marketing, have increasingly leaned on influential voices to make the pitch. Individual deals involving influencers, however, might be on the cusp of a recessionary period.
A recent Wall Street Journal piece, citing data from InfluencerDB, noted that average engagement rates on sponsored Instagram posts—generally a favored platform for influencers—are falling across the board, with rates below 4 percent in categories such as food, lifestyle, and sports. “The bubble is starting to burst,” one online retailer told the newspaper.
Additionally, anecdotal evidence suggests that some influencers are feeling the pressure. “I had to lower my day rate. I had to work twice as hard for twice as less,” noted Jessica Zollman, an early Instagram employee and popular photographer, in comments to the BBC.
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