Influencer marketing has been one of the hottest trends in digital marketing in the last couple of years. Undoubtedly, it is here to stay in 2023 and beyond. Brands continue to involve influencers, who have established good credibility on social media, for promoting their product or service. The world of influencer marketing is getting wider with different types of influencers and creative content creation.
According to the latest report from Influencer Marketing Hub, the influencer marketing industry is expected to hit $21.1 billion in 2023. Brands that do not approach influencer marketing seriously are missing out on a great opportunity to improve their business.
How Does Influencer Marketing Drive Value To Your Brand?
Influencer marketing refers to involving influencers to promote a product or service. Generally, influencer content gets promoted as organic content which helps to improve authenticity. Rather than a well-prepared advertisement for promotions, influencer-driven content allows brands to build social credibility. That is why marketers define it as the word-of-the-mouth marketing of the digital world. And the rise and increasing influence of social media has set the ground right for the growth of influencer marketing.
As we know, there are a few challenges in social media marketing as the space gets more competitive. Influencer marketing is one of the ways by which brands can bypass such challenges and build a community of loyal followers. People like to watch content that educates and entertains them. They like to follow influencers that create quality content. Not only influencer marketing helps to create brand awareness but also helps to increase loyalty. It contributes to high-quality lead generation as well.
In a nutshell, a well-planned influencer marketing strategy helps to grow the audience base at a low cost. It is one of the best ways to market products or services for brands that work on a shoestring budget. And it gives valuable insights into customer expectations which opens a golden opportunity for brands to tweak their products or services.
6 Influencer Marketing Trends That Will Dominate in 2023
The influencer marketing space is evolving at a faster pace over the last couple of years. More brands are expected to work with influencers and create significant results toward growing their business. Listed below are a few influencer marketing trends that we are expected to witness this coming year.
Live-Stream Shopping Becomes Popular
Live-stream shopping allows target customers to place orders through the live stream. They can ask questions or clarify any concerns regarding the product while the influencer during live-streaming. Major social media platforms have already added live shopping features to their platform. Unlike product review videos or unboxing videos, live streaming is unedited content. It helps to improve brand trust immensely which ultimately helps to grow sales. Moreover, live-stream shopping offers a seamless shopping experience for the target customers. It is expected to become a huge trend in the coming year.
Video-Based Content Will Dominate
It has become a cliche to say it is the age of video marketing. Most influencers prefer to communicate with their audience through video than other forms of content. While TikTok has become the most popular platform for short-form videos, YouTube is the preferred platform for lengthy videos. Video marketing offers countless possibilities for influencers to create entertaining and informative content that excites their target group. With YouTube Shorts, Instagram Reels, Snapchat Stories, etc. it has become much easier for influencers to publish video content. Undoubtedly, videos are the future of influencer marketing.
Cross-Channel Campaigns To Thrive
Cross-channel campaigns are becoming more important for brand marketers because social media user use multiple social media platforms. While Instagram is for socialization and product recommendation, TikTok is considered a platform for entertainment and fun. By combining various marketing channels, marketers can create a cohesive customer journey for the audience. Through cross-channel tactics, brands can reach a wider target group and improve brand awareness. Brands are more likely to work with influencers who have a good number of followers on multiple social media platforms.
Brand marketers are expected to aim for long-term partnerships with influencers to get make the most out of their influencer marketing strategy. In fact, having long-term partnerships are beneficial for both parties. For brands, long-term promotions and partnerships will help to build loyalty and trust. The influencers will have more creative freedom and time to come up with different types of content that excites their target audience to promote the product or service. It gives them time to create a series of campaigns and posts for improving the results.
Tracking of Influencer Marketing ROI
With influencer marketing becoming more standardized, brands have already started to measure the impact of the collaboration. Going forward, there will be more attention given to tracking the results and measuring the ROI of the influencer marketing investment. Apart from measuring the impact on sales, brands can measure the reach, likes, saves, and comments that the influencer gets for the posts. It is easy to track how many times the discount codes have been used.
Nano-Influencers on A Rise
Influencers do not always mean celebrities with a huge follower base. They are called macro-influencers and mega-influencers and it quite is advantageous to collaborate with them. However, a lot of brands prefer to work with nano-influencers these days. They are defined as people who have less than 10,000 followers. Rather than celebrities, nano-influencers have a strong degree of credibility. They have a deeper connection with the target base. It will consequently benefit the brand they promote. More brands are expected to collaborate with nano-influencers and micro-influencers in the coming months.
Connect With Us!
Want to build your brand awareness through influencer marketing? Allow our team to craft a brilliant influencer marketing strategy for your brand! At Fresh Content Society, we provide end-to-end services for reaching your social media marketing goals. Connect with us for a quick consultation on leveraging influencer marketing to grow your business.