How Will Influencer Marketing Grow in the Future?
The younger generation spend a lot of their free time on social media. Many brands implement influencer strategies as a way of marketing to reach out to consumers. Influencer Marketing is a combination of old and new marketing mechanism, using the idea of the celebrity endorsement and applying it into a modern day content-driven marketing campaign. The main difference is that the results of the campaign are collaborations between brands and influencers. According to Influencer Marketing Hub, the market of influencer marketing is growing continuously these recent years. It was a $1.7 billion industry in 2016, increasing to $3 billion in 2017. Growth continued to $4.6 billion in 2018 and is expected to continue its upward trajectory this year to potentially become a $6.5 billion industry.
What can we expect in the future on Influencer Marketing? Firstly, instead of focusing on macro-influencers with a large amount of followers certain brands realise that choosing the right influencer with specific target audience will probably work better. The use of micro-influencers will be seen more frequently as this promises better engagement and more personalised contents as these influencers work on connecting personally with their followers. Consumers care about authenticity and picking the right influencers will a big factor to get the audience to trust the products. In the future it is predicted that brand will want to focus on long term association with influencers instead of just distributing contents. In-house influencers bring loyalty and a sense of relatability that other influencers can’t match. Therefore, their endorsements seem more authentic and genuine.
In order to find the right influencer to your brand, you must do enough research. You want to look deeper and study the influencer’s platforms, content themes, past brand collaborations, tone-of-voice etc. Keep in mind that influencers are not digital platforms that brands can buy into with a branded message. They are individuals with a creativity and a voice that resonate with their followers. They can create a positive and trustworthy impression around your brand and potentially increase brand preference among their audience.