In the age of Social media marketing, we have seen the resounding increase of influencer marketing strategy in recent times, with fashion brands being the first mover. With Instagram as preferred medium, signs are motivating as well as adoption of influencer marketing strategy by firms. As per the eMarketer’s 2019 Influencer Marketing Report, 48% of the respondents have either used or planned to use influencer marketing along with celebrity influencers, whereas 45% of the respondents have already used or planned to use micro influencers. Mediakix, estimates global influencer marketing industry to be between $5-10 billion of market potential.
Today, we have come up with few identified trends from the world of influencer marketing trends that will compel you to adopt the strategy if you have not adopted till now. And if you have already adopted the strategy then it will make you increase your budgets.
Micro Influencers Rise: I guess you guys are aware of Kylie Jenner? Reports suggests she is the highest paid Instagram influencer, who charges $1.2 million (£960,000) for a single post on Instagram. World of Influencers are divided into two major categories. Macro and Micro. Macro is term used for famous celebrity with millions of followers and micro stands for small influencers with 10K-50K followers.
With high cost attached with macro firms planning to use influencer marketing for set target with more feasible budget are adopting micro influencers for doing the job. I used the term influencer’s’ because execution cannot be done with one, you need multiple micro influencers from identified industry, who are favourite among consumers for purchase making decisions.
Firms are planning for establishing long term relationship with these influencer instead of paying single post wise.
After Instagram, Tiktok is Preferred Platforms: Instagram is ruling as most preferred platform followed by brands and well as influencers. But recently adoption of Tiktok (short video platform) has also been exponential. Tiktok with 66% of users under 30 years of age is the most preferred modem for GenZ marketing practices. Even Twitch’s recent stats is encouraging and it is in our watch list.
Focus on Audio Video Content: Today 81% of business is using video content practice in their marketing strategy. As per Facebook executive, Facebook will be all about videos by the year 2021. As per another report, advertisers receives average earned media value of $6.85 for every $1 spent by advertiser on influencer marketing practices (which means brands have already started putting ROI calculation metrics in place). Consolidation of both will be a phenomenal strategy, where firms can communicate with their audience base via influencers and these influencers can make video according to the product’s marketing need.