The 2020s could be a defining decade for the influencer economy. Brands played a significant part in driving the growth of influencer marketing. However, it seems the tides have turned, and now brands have come to rely on creators and influencers – boosting the influencer economy in ways you may not have imagined.
It’s no secret that brands are pushing the boundaries when it comes to influencer marketing. Brands are continuously looking for new ways to get their message in front of potential customers, from partnerships to developing the perfect formula for viral influencer content.
This is a massive undertaking because of the scale and complexity of influencer marketing. Not only are there dozens of platforms worth investing for your brand and countless methods to approaching content worth sharing, but there are millions of influencers with followings of all sizes worth considering as well.
This has resulted in several new trends as brands begin to look for ways to connect with consumers through more creative means while keeping their marketing and message aligned with their brand’s mission and goals.
Influencer marketing has historically been focused on the influencers with the biggest social media platforms and the highest follower base.
However, it seems that brands are now starting to look at influencers with a smaller follower base, but who have a more niche audience. These influencers are often more targeted to a specific market and have a following that is more engaged and willing to hear their message. This results in more targeted and personalized campaigns, which can result in more leads and improved conversions.
For years, influencers have been in a race to be the most followed and most successful. What’s interesting to see is that influencers are now becoming more specialized. In the past, influencers were generalists. They would be followed by anyone and everyone, from all demographics and markets.
Now, that’s changing.
Not only are influencers taking on a more niche approach, they seek out management teams to help with their management and strategy.
Instead of trying to be everything to everyone, influencers focus on one or two areas of expertise and then branch out into other areas of specialization as their audience and business grow.
This change in approach can help your brand significantly because it can ensure that the influencers you’re working with better align with your own corporate values, goals, and objectives.
The rise of video content has been one of the biggest trends in the influencer economy. Everyone is taking advantage of the fact that video is the easiest and most engaging way to share information from brands to influencers.
It’s a smart move for businesses, given the fact that approximately 500 million people use Instagram Stories every day! Then, of course, there is the booming popularity of TikTok, with nearly 690 million active users worldwide – making it the seventh largest in terms of users. Users on this app spend approximately 52 minutes per day on the platform, scrolling through the various videos that appear on their For You Page.
The world of marketing may be headed for a significant shift in the next couple of years. Here are three predictions for the 2022 Influencer Economy.
As the influencer economy continues to grow, brands will find themselves able to create content for multiple platforms.
This means brands will want to invest their time in influencers with various platforms to share their content. Otherwise, brands run the risk of collaborating and paying for multiple influencers to share the same (or similar content) across different platforms.
Another trend to keep an eye on is that many influencers are toying with the idea of moving away from popular social media platforms to more private platforms.
This is because many social media platforms have been limiting the creative process for influencers, making it difficult to share the information and content that they have produced.
If social media platforms aren’t careful, they will notice that some of their biggest players will turn up their creative juices and start creating platforms of their own, with eager brands following suit to ensure they don’t lose their audience.
Finally, as more creators find just how powerful their voices are, brands need to keep in mind that influencers will want the freedom to use their unique voices as they see fit. That means that brands will need to be more willing to work with these unique voices instead of trying to force them into a “brand voice” that doesn’t quite vibe with them.
It’s crucial to remember that influencers are now focusing on becoming their own brand. That means they want to create a unique brand voice, just as any other business needs to do. What does that mean for you?
It means you may not have much choice in how influencers choose to promote your brand – but that doesn’t have to be a bad thing. It can prevent some rather unsettling slip-ups, such as the 2016 Scott Disick Instagram fail where he copied and pasted advertising instructions into his sponsored post.
This is why it’s key to find and work with authentic influencers who share your values and vision. Not only will it prevent these sorts of accidents from happening, but it will show a real connection to the audience – something that will inevitably attract positive attention from your audience.
With the influencer economy continuing to grow, brands need to work harder than ever to stay ahead of the curve. Here at E29 Marketing, we’re dedicated to staying on top of new trends and, more importantly, finding ways to leverage these trends to help our clients grow through influencer marketing.
If you’re ready to make your mark on the influencer economy, then contact us today to get started!
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