By Stelyana Hristozova, 02.03.2020
In the last few years, Influencer Marketing has enjoyed rapid expansion. The number of brands working with influencers is further growing.
Accordingly, marketers allocate greater parts of their budgets for such collaboration. Certainly, there is no sign of this trend disappearing in the future.
Influencer Marketing looks like a promising business. However, it changes with fast speed. For that reason, every marketer must be up-to-date with the latest trends within the indsutry.
In 2020 Influencer Marketing is expected to reach a market size of $10 billion. For the sake of success, however, brands have to inform themselves about the recent changes in the field of Influencer Marketing.
Searches for Influencer Marketing have increased in numbers with 325% over the last 12 months only on Google. Such an interest in the topic is a clear sign of the growing popularity of this sector. With the demand going up, the price influencers charge increases as well.
Even though the CPM may increase, Influencer Marketing proves to be one of the most effective and profitable ROI-generating advertising approaches.
With the rising Influencer Marketing prices and budgets, marketers will require more reliable data to justify their investment. Therefore, vanity metrics such as the number of followers cannot be a promise of success anymore.
On the contrary, more in-depth information about the influencer’s performance will be needed. In other words, careful performance evaluation and campaign prediction can secure a positive ROI. Such data include metrics like reach efficiency rate, and engagament rate.
The importance of Influencer Marketing tools will progress in 2020. With the growing need for data-driven justification of campaigns, marketers recognize the benefits of using influencer marketing software.
Influencer Marketing softwares brings various advantage. For example, time-and effort-saving, guarantee for effective performance, and successful match between influencer’s audience and brand’s target customers.
In the past, many brands used to select influencers campaign by campaign, forming a short-term relationship with them.
However, a stronger relationship means influencers will be more committed to your brand and campaign. Moreover, it can save time and effort. Since you have discovered the right fit once, there is no need to change the content creator. Additionally, a repeated endorsement will be perceived as more authentic in the eyes of the consumers. Asa result, your brand can to stay top-of-mind.
Video content is by far the most engaging content format. The majority of online users shows preferences in acquiring information through videos.
In fact, videos achieve 135% more organic reach.
Consequently, a combination of video format and influencer’s credibility will result in a powerful advertising approach.
With the decreasing trust in brands and advertisement, it is expected that influencer’s content will be used for paid advertisement as well. It is called Influencer Dark Posting.
Influencers communicate with consumers in a more captivating way, compared to brands. In fact, the credibility of content creators can win consumers’ trust back and generate a greater number of sales.
These will the top 6 Influencer Marketing Trends in 2020, which will shape the industry.
Even though Influencer Marketing might be a relatively new part of the advertising industry, it is becoming more vital to marketers.
In conclusion, Influencer Marketing evolutions happen fast. Brands must be flexible and adjust their marketing strategies quickly enough.
If you struggle with measuring influencer ROI, make sure to download our free E-book. It provides information about ways to calculate the value created by an influencer, as well as much more insights into Influencer Marketing.