What does the future of influencer marketing look like?
Influencer marketing is commonly known as a form of social media marketing based on endorsements and product placement from influencers, people and organisations who have a supposed ‘expert’ level of knowledge or social influence in their field.
Most of us have, at some stage, been influenced to buy a product or service based on something we have seen online.
Ever bought a mascara because that Love Islander’s lashes looked amazing?
You’ve been influenced. Signed up for a meal delivery box because a well known fitness guru says he saves time and stays lean? Influenced. Talked about how lovely Positano would be for a holiday after seeing a celeb wed there? I N F L U E N C E D.
Marketing budgets are tighter than ever before, so companies are having to make decisions on how they spend their money to reach not only the most eyeballs, but to reach the right eyeballs.
To reach and speak directly to the right people who will part with their hard-earned cash for their products and services. Typically partnering with the right social media influencer will give companies access to a large and, crucially, engaged audience as well as build brand credibility.
There’s a reason why clothes brands typically target the breakout Love Island stars each year to become brand ambassadors.
By engaging a popular star - say Milly Grace Court from Love Island 2021 who launched a clothing edit on ASOS - brands will have access to a captive audience who will trust what they say and, in many cases, purchase their line so that they can adopt their style.
A survey by Influencer Marketing Hub revealed that 63% of marketers intended to increase their Influencer Marketing Budget this year and so that would suggest that influencer marketing is here to stay - for now at least.
But what does the future of Influencer Marketing look like? Honestly, we can be 100% sure but we can make some educated guesses.
The use of AI
Not a morning goes by where we don’t have a long office discussion about AI - something one of us saw on Tiktok the night before or heard on a podcast on the way to the office. The landscape is changing daily and we must embrace it. The only thing to be certain of is that it’s here to stay.
At the most basic level, AI can be used to automate the process of finding and working with the right influencers as well as providing insights into campaign performance. AI will also be used to create campaigns visually too. Amazon is building a team to work on AI tools that will generate photos and videos to used in ad campaigns.
The rise of the micro-influencer
When selecting a social media influencer it used to just be a numbers game and, well, it’s still a numbers game. Same same, but different. Back when social media marketing was in its infancy, everyone looked at followers. How many followers do they have? But now we focus entirely on engagement. 2 million followers means nothing at all if no one is engaging.
Particularly with restaurant or bar openings, we tend to focus on the micro influencer. We’d much rather engage with an influencer with 10,000 followers and a 10% engagement rate rather than .02% of 100,000.
A greater emphasis on diversity and representation
We are seeing a greater emphasis on diversity and representation of late which has, quite rightly, flowed into influencer marketing. The leading LGBTQ+ influencers on YouTube have over 10 million followers.
Consumers want to see themselves represented and so there will be a greater focus for brands to ensure that they remove any trace of exclusivity.
Influencer marketing will continue to be a crucial aspect of the marketing industry, and although maybe hard to believe, it still has significant growth potential. Through diversified strategies, collaboration with different types of influencers, and leveraging the rising popularity of AI, smart brands can capitalise on one of the most effective ways to reach the most loyal of audiences.
But, if you're still unsure, give us a call, we’ve got you covered.
