The influencer marketing industry is projected to grow to $15 billion by 2022, up from $8 billion in 2019, according to a Business Insider Intelligence report. The report also found that brands' largest share of social media presence is on Instagram at 79%, followed by Facebook, YouTube, Twitter, and LinkedIn. Influencers can be categorized based on their reach, niche audience, and engagement, and brands should partner with influencers who are aligned with their brand and products, build a quality network, and focus on longer-term partnerships.