Content marketing. Branded content. Celebrity endorsements. There are many names for it, but nowadays it’s commonly known as Influencer Marketing. And it’s huge!
Influencer marketing has evolved significantly over the past decade, and it’s not going away. It’s thought that nearly 70% of brands in the U.S. are set to use it this year with a majority of this investment going towards social media marketing to drive ecommerce.
So what’s all the fuss about? Influencer marketing is a sure-fire way of presenting your products to a wider pool of potential customers in an authentic way. If you’re aligning with influencers who reflect your ideal customers and your brand as a whole, they are opening up a whole new set of prospects.
We hear a lot about the Jenner’s, Kardashian’s and Dwayne Johnson’s of the influencer world with their $1m price tags, but the tide is turning and in 2022 there are some new ways of eyeing up the opportunities - so here are our 4 top trends:
1. Nano & micro influencer
Chances are many brands don’t have access to $1m budgets to attract mega talent, and this isn’t a bad thing. Many global brands now have a different strategy: working with nano and micro influencers at scale, who are aligned with their brand and can offer something more authentic and interesting.
Nano’s have 100 - 10,000 followers, and micro’s have 10k - 100k. Budgets are more achievable, and access to talent more obtainable. At this level followers are likely to be far more engaged and therefore your money works harder.
Plus, it’s easier to follow another trend, which is…
When influencer marketing became mainstream, many brands ‘sprayed and prayed.’ They poured budgets into big names, possibly saw an initial spike in traffic and sales, and then the next product came along.
By working with nano’s and even micro’s, you’re more likely to be able to invest in your marketing longer-term and this is a hot topic in the influencer world for two reasons: 1) Going back to authenticity, followers are more likely to move down the purchase funnel if the individual they follow seems genuinely invested in your brand, and 2) if the nano moves into micro territory, as an existing customer you’re likely to be on their good side and therefore less likely to get a big increase in fees. Support them as they grow and your businesses can both feel the benefits!
As influencers grow there is also an opportunity for them to increase their output, mainly in the form of…
3. Video content
Video content on the web has been growing exponentially over the past few years, and social platforms are now putting it at the forefront. In fact TikTok have just announced they are increasing their maximum video length to 10 minutes.
Brands have access to sponsored posts yes, but with video - and even audio - content on the rise, there are so many opportunities to connect with many more potential customers. And with the right agreements in place, you could potentially be making use of that content as part of your wider marketing strategy.
4. Guidance and regulation
And it wouldn’t be right to leave without talking about regulation in the industry which is becoming tighter in most markets. Influencers are duty bound to make it clear when they endorse a product as part of a paid deal. Many are transparent, but some are not and we’re reading about more and more influencers having to take posts down or reveal the details of their endorsement deals.
As a brand, we’d recommend you ensure any influencers you work with disclose their partnership according to the market and platform to ensure an authentic and positive experience for all parties.
Influencer marketing isn’t going anywhere, and with two-thirds of brands using it, the impact is real. Take the time to find a partner that aligns with your brand, and with some clever planning and a solid strategy, you’ll open up access to heaps more customers.