Influencer marketing is performing big in the market, and its industry has experienced rapid growth in recent years. Brands are looking forward to investing more to utilize influencers, and the whole industry is expected to reach $5-$10 billion by 2020. The landscape of the influencer industry will evolve as 2020 moves forward. Moreover, there are a few trends of Influencer marketing that are not worth ignoring.
Personalities represent brands, and they are chosen according to the best possible match. It ultimately gives rise to sophisticated platforms that use automation techniques and data to complement human reviews that are familiar. This trend is responsible for making a huge impact.
Increasing influencer marketing budget
Influencer marketing is generating positive ROI, and this is why brands are feeling more confident in using this strategy. All of these are eventually leading to a larger budget. ROI from influencer marketing is easily comparable and is better than other marketing strategies. The fact is agreed upon by 89% of marketers.
2019 was the year when 65% of marketers intended to invest more dollars behind Influencer marketing. Hence, 2020 expects a rise in the figure and witness companies invest in enhanced influencer marketing strategies.
Cracking down fake followers and fake bots
Fake bots and followers derail the influencer marketing campaign. It is easy to buy fake followers on social media. This issue has experienced a drastic growth; hence, in 2019, marketers prioritized spotting fake followers and engagement that was inauthentic.
Influencers with fake followers will not give positive ROI, and eventually, it will lead to pudding. However, brands have come up with practical solutions to approach influencers and negotiate on the best deals. They are spotting red flags efficiently and know exactly what to expect from influencer marketing.
Instagram is the most critical influencer marketing channel
If you don’t know, Instagram is the most sought-after and lucrative platform for influencer marketing. Though influencer marketing is dominant across all social media platforms, Instagram leads the game. Marketers state that Instagram is crucial for their Influencer marketing strategies.
Snapchat became another vast network in the world for sharing short-form videos in the story. Instagram then introduced IGTV as a competition to long-form video platforms. This states that three platforms are present where brands can advertise on. Actionable insights are offered to the brands by providing a creator account to them. They can efficiently keep track of the performance of their Influencer marketing campaign.
Investing in long term influencer partnership
Brands need to nurture a long term relationship with the influencer marketers. Both brands and influencers realize the importance of growing long term relationships with each other. The tradition of paying for a single post is getting lost slowly.
Indulging, in a lasting relationship, offers several benefits. Defined expectations are set out by the brands on influencers. They are also able to develop a better understanding of what is working and what is not for their brand. Stable endorsements for the future is also possible. Brands build a good understanding of influencers and their audiences. After reaping partnership, influencers are expected to produce high-quality content that engages a good number of audience.
Traditional and paid marketing channels taken over by influencer marketing
Though influencer marketing is growing rapidly and is an important marketing strategy, is it more critical than traditional and paid marketing? Marketers agree with the fact happily that it is a crucial tool for marketing. The quality of customers is also better than other strategies used.
Influencers are more open and approachable, unlike celebrities, and offer better engagement avenues. Social Media stars have a strong bond with their audience that is almost impossible to achieve through traditional marketing. Traditional marketing can disappear anytime soon. Brands are willing to invest and engage in influencer marketing.
Final Thoughts
Influencer marketers are also becoming selective in choosing the brands to partner with. Choosing the right personality is vital for a brand; the same way influencers are also picky in selecting the products or services that render significance to their brand. After all, influencers are enhancing their monetization avenues to lead the ever-changing social media landscape.
Author Bio
Sharon Winget is a staff writer with GoodFirms, a review and rating platform of top IT companies & software. A tech geek at heart, I firmly believe technology can transform societies. I enjoy blogging about web design, email marketing, and content marketing.
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