In the recent years, influencer marketing has experienced an exponential rise with brands spending more and more on their marketing strategies that streamline the concept of influencers. A $10 billion industry that has undergone few hiccups, faced challenges, and also stimulated brand promotion campaigns for many small and mid-sized enterprises. Over the period, the effectiveness of these campaigns has gone beyond dispute and discussion because the results are clearly visible.
However, many changes are still expected to come and shape the future of marketing. These changes also include some changing trends and challenges that are known to further shape the influencer marketing industry in 2020 and many more years to come.
Trends to Inspire the Future of Influencer Marketing
The trends in the industry define a new concept shaping the business sector with better brand promotion and awareness. The industry has also helped businesses leverage their operations through simple yet thoughtful measures of choosing the right platform and the right influencer for implementing a wise advertising and marketing strategy.
Let us known about the social media trends of 2020 that is going to inspire and also deeply impact the industry. The trends include:
- Day by day the budgets and prices spent on influencer marketing is rising dramatically.
- With every changing trend, the impact and effectiveness of nano-influencers are growing significantly. Whether you are looking to find Facebook influencers or instagram influencers, each step should be taken cautiously.
- Fake bots and followers are soon to come to picture while brands and companies working more on the cracking down such an inorganic way of promoting brands.
- After Instagram, TikTok and Twitch are also about to gain more prominence as popular influencer marketing channels.
- Traditional concepts of marketing including SEO and paid marketing have been overpowered by this innovative and long lasting measure.
- Over a period of time, technology has made it easier and more convenient to measure ROI and effectiveness of each influencer marketing campaign.
- The trend of finding influencers with similar values and background will become quite easier and dependable.
- Brands will soon look for long-term association with influencers rather than collaborating with them on contractor basis.
- Brands and companies are also to have an in-house team for influencer marketing strategies.
- Increase in regulation and streamlining of the campaigns is going to bring a new change in the industry
- Content marketing is gradually going to take a step back and merge with audio and video content in all possible ways.
- Authentic content is the only key to success. Using authentic and branded content for all posts is like a trump for the marketing campaign. However, defining a clear approach to leverage the use of content beyond being merely a post is what is going to make and create a difference.
Challenges Expected to Plague the Influencer Marketing Industry
When there are trends, when there are advantages, then there disadvantages and problems as well. There are situations when challenges invade into a sector and start to plague the industry. The same is the scenario with influencer marketing. At a place when new trends are to take place, there are some challenges as well that are expected to influence the industry.
Now, let us get into understanding some challenges that the industry is expected to see:
- There can be an excessive number of influencers on certain platforms whereas some platforms have none to win the target audience available at that specific social media platform.
- At times influencers do try to deviate from the authentic relationship they share with the brands as well as with the target audience. Strengthening the relationship with the target audience proves to a good way to retain the genuineness of your work and authenticity of your relationships. Influencer identification of their authenticity purely depends on the relationship they share with their respective target audience.
- Figuring out the ROI and proving the same when actually analyzing the results and calculating the fees of various segments of influencers is certainly going to become the biggest challenge. You can have thoughtful measures to prove the ROI.
- Running various marketing campaigns simultaneously can often lead to a problem when it comes to managing all the campaigns and analyzing the outcomes at month end. Having a thoughtful technology partner who can exclusively work to calculate and analyze results and connect with influencers for all requirements is the key solution to this challenge.
- Fake followers, fake influencers, and fake relationships are again a major problem to be faced in the years to come. This makes it important for brands to analyze the conversions and sales when actually planning to hire influencers.
Whether there are trends or challenges, both have their respective set of considerations, aspirations, and expected outcomes. However, taking thoughtful and intelligent measures while staying attuned to the changing trends expanding with time is what will create miracles for brands and small companies looking for winning marketing campaigns.
Over years and years to come, influencer marketing is certainly here to stay while stimulating businesses drive sales, leverage business operations, promote growth, spread awareness, and look for rewarding outcomes. However, it is important to stay updated and keep a thorough check on the changing trends and challenges so that you are well acquainted of the changes and well-prepared to fight and win any challenge that comes across. So, get set go and build your own influencer marketing strategy and keep on adding new dimensions to your business. All you need is a perfect combination of perspiration and inspiration to visualize your own aspiration.