These days, plenty of brands have made influencer marketing their primary ad campaign strategy. It is no wonder since social media has risen so rapidly that according to a study conducted in 2020, the industry of influencer marketing is set to reach $10 billion worth. As it becomes clear that this particular strategy is here to stay, a lot of people are speculating what future does it hold, especially considering the effects of the global pandemic that has forced nearly the whole world population to stay inside for almost a year and a half, which makes digital sphere is more embraced to maintain daily lives activities. Here are five predictions of how influencer marketing is going to shift and progress in the future.
How Will The Influencer Marketing Industry in The Future Look Like?
- Influencers are likely to have to adapt their marketing strategy plans
While it is true that influencer marketing shows zero signs of declining despite the pandemic, the situation does compel the influencers to be more creative with their marketing strategy.
Social media influencers are often seen as people who live the dream life, repeatedly travel to amazing places, experience cool things–basically all things that have to be constrained with the pandemic. That’s why there’s a high probability that a lot of them will put more focus on wellness, health, beauty, fitness, and alike.
- The emergence of micro and nano-influencers
The principle of ‘less is more’ has been going for so long, but not that long in the world of influencer marketing. That being said, an increasing amount of brands have realized how true it is. The number of followers is not the only thing that contributes to the success of the campaigns.
Micro-influencers are those who have smaller accounts with fewer followers, but they emphasize building and maintaining a personal connection with the audience. They tend to have high engagement (more than 10%) which makes their advertisements are often more effective. In terms of costs, they typically fall on the reasonable side.
In addition, it is also predicted that nano-influencer marketing will become more popular. Nano-influencers are those who don’t exactly categorize themselves as influencers, with the following base comprising more of circles of friends or people they know in real life. Their followers see them as fellows with trustworthy recommendations of products and brands.
- The relationship between influencers and their audience will change
This prediction is related to the previous one, where it is expected that influencers are going to focus more on wellness areas. The brands and the influencers realize that this is not the best time to flaunt and encourage excessive lifestyle, or maybe not ever. So, they will be more mindful about the conveyed message of their campaigns to the audiences and avoid distasteful content.
This will cause the interactions between the influencers, their contents, and the customers change. More people give attention to influencers who can prove to portray authentic messages, which in turn building genuine connections between those who are involved, thus impacting the sales positively.
- More regulated advertising guidelines
There is a certain stereotype in the past about how influencers are not the type of people with the best reputation. It is not merely once or twice that the Federal Trade Commission had to send out warning letters due to immoral and unethical practices done by influencers.
In the end, the FTC issued advertising guidelines to protect the customers’ best interests. According to the guidelines, the influencer has to disclose to the audiences their relationships with brands, for example stating about the paid review or free product receipt. This is why you see a lot of ‘sponsored’ or ‘paid’ disclaimers on influencers’ content nowadays. This results in more transparent marketing to maintain the customers’ trust.
- The increasing trend of CGI influencers
The industry of influencer marketing should prepare for the incoming tide of CGI influencers because they can transform the way brands approach collaborations. For those of you who aren’t familiar with the abbreviated term, GGI means computer-generated imagery.
CGI influencers don’t provide the brands with the same risk of making deals with real-person influencers and celebrities. For once, it is nearly impossible for the manmade-bred technology to be embroiled in a scandal that causes the brands to drop them. They’re also suitable for technologically sophisticated brands like Tesla or Sony.
Some of the virtual influencers that have pulled success are Noonoori, an AI model with more than 370,000 followers, and Miquela, an Instagram-famous influencer with more than 3 million followers and have made partnership deals with several high-end brands.
The traditional marketing approach no longer works as effectively as before for modern consumers. The influencer marketing strategy comes as a favorable advertising canal, as they can present different benefits to brands such as increasing prominence, credibility, engagement, and sales. However just like any other marketing strategy, it is bound to alter and adjust according to various circumstances; so hopefully, the predictions above can give you some insights into its future.