The Influencer Economy Hurtles Toward Its First Recession
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The influencer industry has operated in boom times. As more Americans have taken their cues from social media about where and what to buy, brands started to use their marketing budget on influencers.
But if the world is going to face a recession, the influencer lifestyle will come to a halt. It's not clear what the lasting impacts will be.
If a recession brings shopping to a standstill, marketers may not return to the type of broad branding campaign currently used in the influencer world.
Marketers are still in demand, but brands may demand evidence that the influencers give them sales, not just exposure.
In some ways, influencers are more influential than ever. They get more reach now from self-isolating fans.
The recession stands to remake the industry and force it to mature. Massive followings alone won't promise security. Influencers will have to demonstrate their value and remain adaptive to the fast-changing world.
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