Top Influencer Marketing Trends of 2019
Influencers are taking the marketing world by storm. Businesses today are trying to stay a step ahead when it comes to branding and marketing strategies. One of the ways brands are doing that is by turning to influencer marketing, and they have seen great results in 2019, writes Prashant Sharma, Chief Marketing Officer, NOFILTR Group.
According to statistics provided by Mediakix in their 2019 Influencer Marketing Survey, here are some eye popping stats about influencer marketing:
- 71% of marketers rate the quality of customers and traffic from influencer marketing better than other marketing sources.
- 89% of marketers say influencer marketing ROI is as good or better than other marketing channels.
- 65% of marketers plan to up their influencer marketing budgets in 2019.
Influencer marketing needs no further proof of concept. It has evolved from a very simple process of working with social personalities (influencers) to promote brands among their audiences to that of highly strategic marketing efforts that have many moving pieces. Here are few overarching trends that were the game-changer in the year 2019.
Facebook no longer has any hold on influencing the youth
Facebook is in the middle of a soul-searching exercise. Facebook appears to be falling out of favour among youngsters and millennials and has no hold on influencing the youth. A growing number of these young people have drastically reduced their dependence on Facebook if they have not stopped using it altogether. They have turned to other platforms, such as Instagram and Snapchat, to socialise with each other. Facebook is losing traction, as brands look for returns from the campaigns. It has become a very ad-led platform with little organic reach for influencers and content creators.
Increase in demand for ROI based campaigns
If you don’t partner with the right influencers and maintain a proper track record of ROI, the campaign is doomed to fail from the start. 89% of marketers say that Return on Investment (ROI) from influencer marketing is comparable or better than other marketing channels. Influencer marketing platforms are now highly adept at detailing the success or lack thereof of a campaign, allowing marketers to monitor performance in real-time and report metrics like cost-per-engagement and cost-per-impression.
Influencer marketing budgets on heights
As the stock of influencers has increased, so have demands. The rising cost of influencers is turning to be a leading challenge in the industry. For example, Kylie Jenner charges a whopping $1 million per sponsored Instagram post. However, on the other end of the spectrum, marketers are exploring partnering with smaller, more accessible influencers such as nano-influencers, who will often work for a nominal fee or in exchange for a free product.
Crisp content dominates the present and the future
Minimum content with maximum impact is the key for brands for leveraging their business. People are looking for precise information that will help them purchase without investing much time. The quality of the content has a direct impact on your brand’s conversions. Also, well-researched and insightful content reinforces brand credibility. It helps you win the trust of your audience and turn them into loyal brand advocates.
TikTok – the growing Giant
Instagram might be king of the influencer marketing world, but there’s plenty of room for other platforms, too, one of them is TikTok, that have emerged as significant players in influencer marketing. TikTok, the short-form video network that has become a worldwide sensation over the last year, has become a go-to platform for Gen Z audiences. Brands are now tapping their customer base in target Tier 2 and 3 markets through TikTok. It is going to be the biggest social media platform to exist in 2020. It already is in terms of relevancy in the Tier 2 and 3 markets, and it will soon overtake Instagram in Tier 1 as well.
Rise of Micro-Influencers
While celebrity mega and macro-influencers unquestionably garner the most attention, other types of influencers such as micro and nano had provided value to brands at a lower cost in 2019. Influencer marketing relies heavily on trust and authenticity between the influencer and their audience, and something micro-influencers was able to achieve by nature of their intimate relationship with their audience.
The collaboration of Brand product and Influencers
Joint business ventures between influencers and brands are offering a whole new dynamic to partnerships and endorsements. Many makeup brands have collaborated with influencers to launch their products. For example, Smashbox and Malvika Sitlani, which was on the top-notch in the game. Such collaborations are resulting in stronger tie-ups between brands, influencers and the audience.
Influencers turning Entrepreneurs
Unlike awe that fans feel for traditional celebrities, actors, and pop-stars, followers of social media talent are immersed inside the daily life and routine of the influencers they follow. Now, these social media stars are ready to revamp to the next step in their revolution, which is to be an entrepreneur. From making fame on social media, the influencers in 2019 have launched their entrepreneurial ventures too. For instance, Awez and BYou are the ones who had forged ahead of the curve by kick-starting their enterprises.
Brands are in need of more UGC via TikTok
In 2019, TikTok has emerged as the king, specifically when it comes to getting UGC for brand collaborations. Looking at the statistics of brand campaigns done in 2019, it will become the most significant influencer marketing platform for brands. TikTok is majorly a part of viral marketing, and brands are using the same for leveraging the business. Many of them have realised its explosive potential; for example, Guess recently launched the first-ever first-ever US brand collaboration with TikTok with its #InMyDenim campaign, partnering with relevant influencers to promote its new denim. Other popular brands such as Google, Coca-Cola, the NBA, and Chipotle have already worked on major TikTok campaigns to raise brand awareness.