Influencer marketing is here to stay. The industry is growing faster than ever and key data sources from 2019 have presented us with a slew of trends for 2020 and beyond.
Platforms Defining Influencer Marketing
Influencer marketing budgets are set to increase this year. More brands than ever are looking to influencers to increase their audiences and sell more products. No longer an outlier strategy, influencer campaigns have earnt their place beside more established digital marketing approaches such as social media advertising and SEO optimization.
When considering how best to spend on influencer marketing, you need to asses which platforms are best for your brand and goals. Successful campaigns will incorporate a multi-channel approach with content appearing across blogs, social media and influencer profiles, and links leading audiences back to company websites.
There is a clear hierarchy of platforms when it comes to influencer marketing. Data from 2019 gives us the following ranking:
|1. Instagram||4. Blogs|
|2. Facebook||5. Twitter|
|3. YouTube||6. LinkedIn|
Both Instagram feeds and Instagram stories have come out on top as the most effective platforms for influencer marketing. Newcomer TikTok is also on the rise, having cornered a niche in the market with its short-form videos and predominantly under 30s audience.
Facebook is still an influential platform but is best used for paid advertising – their ad component is extremely powerful – and, where relevant, to access micro-communities. Micro-communities have become increasingly important for social and professional platforms such as Facebook and LinkedIn, where groups have been created around areas of shared interest or experience. These can be a useful way to grow and build trust with your audience, but do not often feature in influencer marketing strategies.
5 Key Trends That Are Changing the Industry
Here are five of the key trends for 2020 that you should consider when putting together your influencer marketing strategy.
1. Micro Influencers Are More Engaging Than Macro Influencers
The data doesn’t lie. Influencers with under 25K followers have a more engaged and loyal following than those with larger audiences. This is due, at least in part, to the fact that macro influencers are posting more and more sponsored content which doesn’t always resonate with their audience. Authenticity is key to influencer success and paid posts can undermine this, leading audiences to lose trust in their recommendations.
2. Brands Are Cultivating Long-Term Relationships with Influencers
Brands are increasingly committed to the influencers they choose to work with, spending more time and money on developing deeper, longer-lasting relationships. This approach leverages greater levels of trust between the influencer and their audience, as well as between the brand and the influencer, ultimately leading to a greater return on investment.
3. Globalization of Brands and Influencers Is on the Rise
The internet has made it easy to reach anybody, anytime, anywhere. Reaching out to local influencers can lend credibility to businesses as they expand into new markets around the world. They can also be a source of useful insights into how best to position existing products and services for a new audience within an unfamiliar cultural context.
4. Long-Form Content Is More Relevant Than Ever Before
Whether you’re writing Instagram captions, posting YouTube videos or even tweeting, long-form content is becoming more and more prevalent. Audiences are increasingly expecting honest, soul-baring posts that underscore the authenticity of their author, enabling followers to feel an empathetic connection with influencers and an immediate sense of trust.
5. The Value of Influencer Platforms Will Continue to Grow
With all the buzz around influencers, platforms that allow you to search and filter through these personalities are expected to become much more valuable. The marketing technology industry (MarTech) is set to benefit significantly from the growth of influencer marketing in 2020.
From all five of these trends we can see that authenticity should underscore any influencer marketing strategy. In the next year and beyond, as brand mission and brand strategy becomes increasingly central to any successful business, we can expect to see a push from brands to find influencers that share their values, mission, and vision.
Considering a Career in Marketing
At the end of 2019, the influencer marketing industry was worth well over $8 billion, a number which is only expected to rise. It is an exciting field that is ripe with opportunities for savvy marketeers to innovate and drive forward business growth.
If you are interested in a career in Marketing or Communications & PR, EU Business School is the right place for you. With campuses throughout Europe in international hubs of innovation and culture, and our experiential approach to teaching, you can immerse yourself in dynamic cities that offer the perfect playground in which to learn and experiment. Find out more about our bachelor, master and MBA programs, and equip yourself with the tools you need to launch a successful marketing career.