Last week, Billion Dollar Boy became the first and only influencer agency named in the Financial Times 1000: Europe’s Fastest-Growing Companies 2021. Those outside of the industry are recognising the impact influencer marketing is having within the business sector.
The Financial Times will be releasing the full report featuring case studies and analysis from this year’s ranking on 22nd March. Now, you can read the full list of companies featured, which includes Billion Dollar Boy (BDB), along with the mention that London remains as the city with the most high-growth businesses. The list itself was compiled in association with research company Statista and is one of the business world’s most respected league tables. Companies are featured based on the highest percentage annual growth rate in revenues between 2016 and 2019.
According to consulting firm Accenture, half of all European companies reported a revenue or profit decline in the past year, navigating challenges such as the COVID-19 pandemic and Brexit. We are able to celebrate the fact that the influencer marketing industry was one that has been able to thrive, and grow, during these unprecedented times.
At the beginning of the year, Business Insider published its report of predictions for the influencer marketing industry throughout 2021. The report stated how the industry is ‘on track to be worth up to $15 billion by 2022, up from as much as $8 billion in 2019’. It was also reported that ‘96% of US and UK consumers who followed influencers were engaging with them more or to the same extent as before the coronavirus outbreak’ – according to the May 2020 GlobalWebIndex survey.
Supporting the report of increased influencer engagement during the COVID-19 pandemic, BDB said that the pandemic didn’t hinder the companies growth, as the team was able to develop relationships with clients as well as growing the team and reviewing the structure of the organisation. Having time to develop the company enabled BDB to evolve from what was once a small determined team, to being a globally recognised creative agency for the influencer age.
It has been widely recognised that especially during the pandemic, brands have had to drive their focus and strategies towards online content and marketing. Influencer-generated content is beneficial for brands that may be unable to host in-person marketing events and content shoots, in regards to both budget and current COVID restrictions.
With influencers being able to generate content from home, by themselves, or with a small team, the turnaround is quick and results are successful as we can almost guarantee that consumers will interact with the content posted by their favorite influencers. As an increasing number of brands reap the benefits of influencer marketing, we can predict that we will only continue to see the industry grow heading into the future.