There’s little doubt that influencer marketing has left an indelible mark in the business world. According to Influencer Marketing Hub’s most recent benchmark report, the industry is set to be worth a whopping $24 billion by the end of 2024, with 85% of the 3,000 individuals polled for the report stating they believe influencer marketing to be effective.
The jury is still out in terms of forming a complete consensus on the matter, however, with critics pointing out several pitfalls common to the practice. So, does influencer marketing actually work as well as advertised within the popular discourse?
One prevailing opinion on the matter was ushered forth by Kate Vitasek, writing for Forbes.
Vitasek argued that influencer marketing works in terms of overall ad spend efficiency (achieving an average of nearly $6 for every $1 spent) and is tailor-made for a very specific audience. Additionally, this relatively novel form of marketing is effective in overcoming obstacles that consumers — tired …