Influencer Marketing Trend For 2020
Updated: Jun 8, 2020
Influencer marketing is here to stay. Let this be clear.
The business is growing faster than ever, and crucial data sources from 2019 have presented us with a ton of forecasts for 2020 and beyond.
Influencer marketing budgets are set to increase this season. More businesses than ever are seeking out influencers to reach their audiences and sell more goods.
With no more an outlier mode of marketing, influencer campaigns have earned their place among other recognized digital marketing strategies like social media and SEO marketing.
When contemplating how best to invest in influencer marketing, you must evaluate which platforms are a good fit for your business objectives. Successful campaigns may include a multi-channel strategy with campaigns cutting across various websites, social media and influencer profiles, and hyperlinks connecting back to business sites.
The two Instagram feeds, and Instagram tales have emerged as the best platforms for influencer marketing. Newcomer TikTok is also on the upswing, with already cornering a niche in the marketplace using short-form movies appealing to mostly under 30s audience.
While there's certainly been a notable backlash against influencer marketing, the fact that the research phase itself has observed a 1500 percent rise in the previous two decade informs us how significant the effect of this trend is.
While some businesses are moving from influencer marketing because of "influencer exhaustion," others are still exploring and learning how to implement it in their marketing mix or searching for ways to remain ahead of the curve.
Here are some critical Influencing Marketing trends for 2020.
The focus on Nano and Micro-Influencers:
Marketers are being more responsible with their marketing budgets, which means they are changing how they deal with influencers.
"Celebrity-status" mega-influencers (using their online followings over one million) are not as the goal any longer, as they need a more significant marketing investment. Nano- and - micro-influencers are becoming more attractive to marketers because of their niche targets and enhanced private engagement with their audiences.
Macro-influencers followings vary 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.
With customers demanding more real engagement, the demand for micro and Nano-influencers are on the upswing.
Storytelling approach is the best approach:
An influencer helps a brand by showing their audiences how your product or service helped solve an issue they faced.
It's typical for influencers to discuss a lot of the private lives with their audiences, such as their issues and pain factors. By considering how your product fits in their lives and makes it simpler, viewers and possible buyers can observe real-time evidence of your promises.
Using Alternative Platforms:
Knowing the platform of choice of your target audience is one of the key pain point that you face while creating your influencer strategy.
While deciding the best social networking channels in your marketing strategy, it is essential to understand that every channel provides its unique audience.
While one platform might be a powerhouse for one particular kind of engagement it may do nothing for another one -- while one company may have a lot of engagement on a specific platform, a separate company will have more traction for a different set of people.
The ideal choice is to find and invest in channel which reaches your audience at the right place and at the right time.
Value of Influencer Marketing Will Only Increase
With the entire buzz around influencers, programs that allow you to filter and search using these characters are expected to become a lot more precious.
The marketing technology industry (MarTech) is destined to gain significantly. This growth will be powered by the growth of influencer marketing.
From the above-mentioned points, we can clearly see that the credibility of the influencer along with its synergy with your brand should be kept in mind and should for the cornerstone of any influencer marketing plan.
In the coming year when more brands will be built online than offline, when digital brand strategies will become more essential for any successful business, we can expect to see a push from businesses to locate influencers that discuss their values, mission, and vision.
In 2019, the influencer marketing industry was worth over $8 billion, a number that is only expected to grow. It's an exciting field ripe with opportunities for savvy entrepreneurs to innovate and push forward business growth.