Influencer marketing has been on the rise for the past few years. As trends stabilize and ROI effectiveness rises, it’s clear that influencer marketing is here to stay. Use GROWL’s influencer marketing breakdown to help innovate your brand strategies for greater ROI.
Influencers are individuals with the authority and ability to influence purchasing decisions. Influencer marketing is most prominent on social media – social media influencers use their following and channel to showcase their product or niche knowledge and encourage buying behavior. Influencers aren’t necessarily brand loyalists, as they typically have paid agreements with the brand.
Influencers are essential to brands because they aren’t just another marketing channel. Influencers are real, authentic people who create and thrive off of human connection. Thus, their accounts aren’t a sales pitch but a connection and relationship. In today’s world of marketing, authenticity and relationship marketing are vital – consumers trust brands less and their peers (including strangers) more. Considering these direct connections, it’s no surprise that 61% of people interact with an influencer at least once a day. And, 89% of companies say ROI from influencer marketing is comparable to or better than other avenues.
Social media influencer marketing is important and impactful on Instagram. Mostly, sponsored feed posts are used, with stories ranking second. Through this platform, here’s what we can expect for the future of influencer marketing.
Had no adverse reaction to influencer-sponsored content (67%)
Been 82% more likely to follow the recommendations of an influencer than a brand
Today, it’s critical for influencers’ personal brand, style, and values to match the company they represent.
Micro-influencers are those with 1,000-9,000 followers who create 100% authentic content and have a highly engaged audience. We’ll also see a steady contribution from micro-influencers (those with 10,000-100,000 followers).
Mega-influencers, those with over 100,000 followers (i.e., celebrities), will drop in popularity because consumers are feeling less connected to their content, and the price per post is astronomical.
People are naturally drawn to stories—influencers are ideal for leveraging storytelling and personal connection to promote your product.
Long-term partnerships will create a stronger brand association, higher ROI, and improved credibility.
With the rise of influencer marketing, restrictions and ad regulations get tighter. Over the past year, Instagram has already restricted influencer content regarding dietary consumption and health habits that can negatively affect users. In the past, influencers (especially mega-influencers) have had a poor reputation for being unethical, causing the FTC to issue guidelines that protect consumers (you see these commonly as “#ad”). Regulatory guides are another reason consumers and brands demand authenticity.
Influencer content is becoming more popular and more impactful than ever. It’s evergreen (it doesn’t expire when the campaign does), and such marketing results in high ROI. Today, we see influencer content that is extremely creative and more high-quality than ever – but it remains vital for companies and influencers to seek collaborations that benefit each other’s values.
Need to brainstorm how you can incorporate influencers in 2020? Give GROWL a call today.