Social media influencers gain the attention of their followers through relatable, sensational, entertaining, or educational content — and the genuine and transparent personalities behind it.
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Brands looking to gain similar attention will partner with influencers to build campaigns that aim to do this on a grander scale and ultimately increase conversions.
The current state of influencer marketing
While there has certainly been a notable backlash against influencer marketing, the fact that the search term itself has seen an 1500% increase in the past three years reminds us how big an impact this trend is having on the marketing industry as a whole.
While some brands are moving away from influencer marketing due to "influencer fatigue," others are still researching and learning how to implement it into their marketing strategies or looking for ways to improve and stay ahead.
So, is influencer marketing still trending upwards?
According to a recent article by Oberlo, yes. Businesses are still investing heavily in influencer marketing for their brands. In fact:
93% of marketers use influencer marketing
Nine out of 10 marketers believe influencer marketing to be effective
Furthermore, influencer marketing is proving to be effective with:
Every $1 spent producing an average return of $18
Eight out of 10 consumers purchasing a product after having seen it recommended by an influencer
To understand how to capitalize on this performance, it's imperative to know the data behind the trends.
Outlined in this informative infographic provided by DCI are the four top trends to watch for in 2020. Here are the biggest takeaways for marketers.
1. Focus on nano-influencers and micro-influencers
Marketers are being more responsible with their marketing budgets, so they’re changing how they work with influencers.
“Celebrity-status” mega-influencers (with their online followings over one million) are less often the target, as they require a larger marketing investment . Nano- and micro-influencers are becoming more appealing due their niche focuses and increased personal engagement with their audiences.
What’s the difference? It primarily lies in account size.
Macro-influencers followings range between 10,000 and 1 million, while micro-influencers have between 5,000 to 10,000 followers and nano-influencers have between 1,000 and 5,000 followers — and usually aren’t glamorously edited, staged, or overly filtered.
With consumers demanding more genuine engagement, micro and nano-influencers are on the rise.
2. Adopt a storytelling approach
"When you tell a story that embodies human challenges, you create an experience that resonates with your customers,” explains I-Scoop, a digital media platform.
That’s why marketers need to tell the story of their brand.
An influencer can help by showing their audiences how your product or service helped solve a problem they face.
It is common for influencers to share much of their personal lives with their audiences, including their problems and pain points. By sharing how your brand fits into their lives and makes it better, audiences and potential buyers can see real-life proof of your claims.
3. Utilize alternative platforms
Understanding where the platform of choice is for your target audience is one of the key pieces to building your influencer strategy.
According to the research provided by DOTcominfoway, here are marketers' preferred social platforms, based on interaction and engagement rates:
When choosing the best social media channels for your strategy, it's important to understand that each channel offers its own unique audience, differences in influencer engagement and style, and its own specific benefits.
While one platform may be a powerhouse for one brand, it might do nothing for another – and while one business might have tons of engagement on a certain platform, another business will gain more traction on others.
The best option is to invest where your audience is already hanging out.
4. Video content
Videos get 135% more organic reach than images, status, and link posts
Users spend three times more time watching live videos (allowing them to be more interactive with influencers)
As we already know, video marketing is booming, and implementing it into your marketing strategies has become key in both gaining your customers’ attention and keeping it.
Therefore, utilizing video within your influencer marketing should be a given.
Influencers utilize a variety of different video strategies.
Influencer marketing, like many other marketing strategies, will continue to evolve, but one thing won’t: with a trusted outside voice, brands can drive an even greater volume of quality conversions to their business.
Check out the infographic below for a more detailed report on what that looks like today.