US Marketers will spend $8.14 million in social media-sponsored content, up 16.0% year over year, according to a March 2023 forecast by EMarketer.
Although spending will increase to $9.29 billion next year, growth is moderating as marketers focus more carefully on well-known creators with whom they can form long-term relationships.
“Brands are increasingly opting for recurring, ‘always-on’ partnerships with trusted creators rather than one-off campaigns,” stated EMarketer.
However, the relationships created are generally more significant, and the goal is to expand beyond social media to other mediums such as television.
Ariel Ben Solomon is the Growth and Strategy manager at Ecomhunt. He is the host of the Ecomhunt Podcast. Can be followed on Twitter at @ArielBenSolomon
