Latin America: social media used for B2B influencer marketing in 2019

During a 2019 survey carried out in Mexico, Colombia, and Venezuela, 74 percent of responding PR professionals stated they used Instagram for business-to-business (B2B) influencer marketing, whereas 62 percent said they used Facebook for that purpose. Furthermore, the business oriented social networking site, LinkedIn, was used by 55 percent of respondents for B2B influencer marketing. The survey also found 85 percent of respondents used Instagram for business-to-customer influencer marketing.

Influencer marketing investments in Latin America

With the large number of influencers in Latin America, predominately located in Brazil, there have been plenty of opportunities for investments in the region’s influencer marketing industry. A 2019 survey found 42 percent of responding Latin American tourism companies stated they planned to spend up to 20 percent of their annual sales on influencers. Meanwhile, Latin America’s most-followed athletes on Instagram were reported to have an average media value per post of up to 690.5 thousand U.S. dollars.

Global influencer marketing spending

Between 2016 and 2019, the value of the global influencer marketing industry grew nearly 74 percent, reaching 6.5 billion U.S. dollars in 2019. That year, influencer marketing on YouTube alone accounted for around 5.5 billion U.S. dollars worldwide, and this sum is estimated to rise to 6.6 billion in 2020. Instagram is also a highly invested in platform for global influencer marketing, with monthly spending in 2019 ranging from 378 million U.S. dollars to 493 million.