Influencer Marketing Trends to Watch in 2020
Digital marketing has witnessed its twists and turns over the years, and now influencer marketing has become a critical part of marketing through social media. As influencers gain recognition through social media becoming experts speaking to the crowd, their words have the power to make a mark on their audiences.
However, the emergence of influencer marketing has also introduced some challenges. The use of fake followers and lack of transparency has the potential to put you at a disadvantage when creating connections with influencers and customers. As the digital marketing scene evolves, Planet Media has the trends of influencer marketing to watch out for in 2020 and what practices you should consider this year.
Integration of marketing strategies
Merging of social media marketing, content marketing and influencer marketing will become more noticeable this year. It will become considered as a single online marketing strategy. Content marketing focuses on creation of content and sharing it with customers and your potential clients, while influencer marketing and social media marketing differs in the distribution method of that content. Brands will continue to create content to share with their followers and increase their reach on social media while working with influencers. When the opportunity arises and it suits both parties, the brand and the influencer can reach out to potential new customers simultaneously.
Increased amount of audio and video content
As internet speed and bandwidth continues to increase, large size data is becoming more easily shared. This means it is becoming cheaper and easier to share audio and video content with customers. For online content consumption, audiences increasingly prefer videos and audio content, as it is more engaging in a fast-paced world.
According to Google customer insights, 6 out of 10 people would rather watch videos online than watching TV. Cisco Visual Networking Index predicts that by 2022, 82% of all consumer internet traffic will be made up of video content. Already YouTube is currently the second most popular website after Google. As well as being preferred by customers, video content has the dynamic potential of generating more sales, seeing products and services in action.
Moreover, one of Facebook’s executives have predicted that by 2021 the platform will be fully video-driven without text. According to statistics from Biteable, 80% of businesses use videos as a marketing tool. So if you are not, you should be. Many content marketers recommend making your strategy between 60% and 70% video content. In the words of Instagram celebrity Elizabeth Gilmore, “video first always!”
Generation of authentic content by working genuine influencers
Fame and glory might not be as effective in 2020 as social media behaviours continue to change. Although posts by big celebrities will earn more likes and reach, the extent of engagement and action will dwindle. People are now turning to user generated content to find recommendations that they trust. This means picking and choosing certain influencers that they find authentic. Companies can pay from around $25,000 for a single sponsored post on social media as that reach is that valuable. The challenge is finding how to draw a fine balance between the cost of an influencer-endorsed post with your return on investment.
Nano and micro influencers have been gaining momentum as they enable more engagement with niche markets. According to a recent report, the highest engagement rate was an average of 7% from micro influencers with less than 100k followers. Nano influencers with less than 25,000 followers generate more return from the authentic connections that they have. However, take care to select influencers who are aligned to your brand’s character when you start collaborating.
Influencers with a more human element means their followers will be more similar to your target audience, creating a higher potential for them to turn into customers. Before searching for influencers far and wide, turn to the potential people around you. Your existing customers and employees are already your advocates. Encourage them to share thoughts on your brand by offering a few incentives and get that engagement growing.
Literally a global network, it is crucial to select influencers whose values are similar to yours, and who do it tastefully and professionally. For example, if you want to market your brand as edgy, then you should work with progressive or potentially more contentious influencers. This will have the advantage of the influencer reaching a similar target market to your brand.
Stay grounded. Regarding content, customers value authenticity, simplicity, and helpful or educational content. They would love to know the average, every-day version of influencers rather than just the glamorous versions. Giving a real glimpse of life, doing Q and A’s and posting relatable memes often works. The infamous tag of #nofilter has been trending in 2019, so the days of perfectly manicured feeds might die out in 2020. People need to dive into the life of influencers in a real sense. Unfiltered content from a grounded perspective can build the trust of your audience. Value-packed captions with engaging stories will also lead to higher engagements. You better use your influencers tactically. Their content should show them also staying down to earth, in a way that resonates with your brand image.
Long term partnerships: influencers becoming brand ambassadors
Rather than reaching out to influencers out of the blue for a campaign, it can be beneficial to maintain a long term relationship with them. It will save time, effort and expenses once you find a wide range of core influencers who may potentially work with your brand. Different influencers will cater to different needs. Some influencers are appropriate for reaching out to customers with a low budget by promoting lower priced products, while other high-flyers can reach luxury-seeking customers by talking about higher priced products. Brands will also be investing in long term influencer partnerships. This will bring more results over time, rather one-time sponsored posts. Long term partnerships lead to more authentic content and is more likely to be trusted by consumers.
Metrics matter: Shift of focus from likes
Analytics and metrics are continuing to evolve. The focus has moved away from “likes” in 2019. This was due to the number of likes gained for a post becoming gradually hidden from followers on Instagram, starting in regions such as Canada in early 2019. This was later followed by many other countries including Australia, Brazil, Ireland, Italy, Japan and New Zealand, with Facebook now hiding the number of likes from the public. The attention is moving away from simply the amount of likes and instead driving to quality comments to examine post engagement.
New social media platforms: Tik Tok is rising
Upcoming platforms like Tik Tok are currently making waves in the social media landscape. It is one of the newest additions to the major social media platforms, and has been a fast growing app in 2019. Similar to the short video sharing platform Vine, Tik Tok now has over 500 million monthly active users creating engaging user-generated content. Young users and viral potential of the interface increases the need for metrics. Information coming out of platform APIs, influencers and agencies are important for engagement. We can hope for API and first party data soon.
Brands will be investing to work with major influencers through Tik Tok in 2020, as it allows for easy content creation, sharing and viewing, with the potential for content to go viral. This reach would enable brands to reach a high number of consumers. Challenges created by brands on platforms such as this can be an effective way to generate user created content. It will help you to determine the success of influencer marketing in the Tik Tok platform. Optimise your marketing efforts to drive consistent, top quality customer engagement.
You should definitely increase your brand’s social media usage to more than one platform. It might be time to branch out in 2020 and get some influence under your belt? Don’t overlook newly popular platforms when formulating your digital marketing strategy.
These 2020 influencer marketing trends point out the change in the way influencers and consumers interact with social media. Ensure your content and collaborations remain consistent over your various social media platforms to promote one key message. Try to keep your audience engaged using audio and video content in 2020. Establish long term relationships with influencers who create authentic content, and that share values similar to your brand. Finally, consider incorporating newly emerging platforms into your social media strategy to find new ways to engage with your customers. Stay up to date with these trends to make the most of influencer marketing in 2020.