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 further shape the influencer marketing industry in 2020 and many more years to come.
Trends to Inspire the Future of Influencer Marketing
Industry trends are transforming the business sector, enhancing brand promotion and awareness. By carefully selecting the right platforms and influencers, companies can optimize their operations and execute more effective marketing and advertising strategies.
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:
- Some platforms may have an overwhelming number of influencers, while others may have very few, making it challenging to effectively reach the target audience on those specific social media channels.
- Sometimes influencers may drift from the authentic connections they have with brands and their audiences. Maintaining and strengthening these relationships is key to preserving authenticity, as an influencer’s credibility relies on the trust and rapport they have with their followers.
- Calculating ROI and demonstrating it when analyzing results and managing influencer fees can be a significant challenge. However, implementing thoughtful strategies can help effectively measure and prove ROI.
- Running multiple marketing campaigns at the same time can make managing them and analyzing results challenging. A reliable technology partner can solve this by tracking performance, analyzing outcomes, and coordinating with influencers to meet all campaign needs.
- 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.
Conclusion
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.
Influencer marketing is here to stay, helping businesses drive sales, promote growth, and increase brand awareness. To succeed, it’s essential to stay updated on evolving trends and challenges, ensuring you’re prepared to navigate and overcome obstacles. Start building your influencer marketing strategy and continue expanding your business horizons. With the right combination of hard work and creativity, you can turn your aspirations into reality.