Influencer marketing as an industry is changing far quicker than most digital marketing disciplines. By its nature, influencer marketing revolves around the evolution of social media, taking into account both micro and macro factors (such as the effects of Covid on social media).
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In this article, we’ll look deeper into five specific developments that are already unfolding within the influencer marketing industry, and dissect what you can do to leverage them to keep ahead of the competition.
1 Authenticity is becoming a priority
Consumers are becoming more savvy when it comes to screening out greenwashing attempts by companies or identifying social media influencers who aren’t authentic in their content and brand collaborations.
If consumers don’t trust influencers, they’ll likely stop engaging with them – or even unfollow them altogether. That’s why many brands are opting to collaborate with nano or micro influencers; with their relatable content and close knit community of followers, they are commonly regarded as much more ‘real’ than mega influencers.
2 The rise of TikTok
TikTok has been a mainstay for gen z audiences for a short while now, but it’s continuing to gain momentum – especially with millennials. Millennials are seeing the potential of TikTok in terms of creating viral content, and a number of notable influencers and brands have recently set up TikTok accounts for this very reason.
In such a fast-moving industry, identifying what’s trending is crucial for both brands and influencers alike. The accessibility of TikTok also means that whilst having a video editor can be helpful, influencers can create engaging and influential content directly from their devices. With soaring revenue figures, TikTok is something we don’t see going away anytime soon, and there’s still massive potential for the platform to dominate the social media landscape.
3 Nano and micro-influencers are no joke
We mentioned how authenticity is key, and micro-influencers are at the forefront of authentic social media content. Not only do they really use the products that they feature in their content, their entire accounts are usually based on a select few niches which their followers LOVE.
Despite their smaller follower counts, nano and micro-influencers tend to enjoy higher engagement rates than other influencer types. This engagement can lead to an increase in conversions, as well as behavioural & attitudinal loyalty. Gone are the days of dismissive myths circling nano and micro influencers myths – engagement is key, and that’s the USP where these influencers are concerned.
4 Ease of measurement
When analysing some industry behaviours of the latest influencer marketing statistics, it’s clear that many brands believe that their biggest challenge with the channel is their ability to measure results. However, new developments in the social media landscape have made it easier than ever to track and assess influencer marketing outcomes.
One novel addition to the space is Instagram Shopping, which allows users to shop directly within the platform, removing the need to go onto third party websites. This provides an easy way for consumers to buy products, but can also seamlessly allow brands to track how influencer campaigns are converting.
However, it’s important to note that soft metrics such as brand sentiment or an increase in followers should still be a priority for a lot of brands utilising influencer marketing, and that it’s not just sales or revenue figures that should be looked into.
5 Influencer marketing is here to stay
Influencer marketing is growing, and it’s growing fast.
Brands plan to continue upping their budgets within the channel as they notice the high ROI compared to other digital channels.
Influencers are continuing to, well, influence. There’s no slowing down when it comes to social media usage, and at the end of the day, people buy into people. While you might still think you can get away with influencer marketing as a ‘top-up’ tactic, brands will soon find it much harder to get their messages across if they don’t have an influencer vouching for them in an authentic way.