Today's online celebrities—both verified and
aspiring—can now become product sponsors with the help of a
social-media account, a picture-perfect aesthetic, and several
hundred thousand followers. The influencer marketing industry is a
multibillion-dollar industry according to some industry reports
stating it is projected to generate $2.6 billion by 2020. With the number of
brand-sponsored influencer posts expected to surpass six billion in 2020, it is no surprise that
consumer-facing companies have realized the power of leveraging
social-media influencers to market their products to an
algorithm-curated audience.
Social media remains an ideal platform for attracting
prospective customers, but participating companies must be aware of
regulatory guidelines that apply when sending products and
promo-codes to online personalities agreeing to post highly visible
endorsements.
