Growth of Influencer Marketing Brings New Rewards, Raises Tough Questions

As influencers command higher rates for their services, brands bring more scrutiny to the table

By Chris Warren

Spending on influencer marketing is expected to grow to $6.1 billion in 2023 and $7.1 billion in 2024, per Insider Intelligence. But as the market expands, brand managers are starting to ask tougher questions about the advantages — and drawbacks — of using influencers to help boost engagement efforts and land new customers.