Influencer marketing is on the lips of every marketer these days. Between 2017 and 2022, it registered a massive growth of 355%. According to a study by Statista, the amount spent by brands and companies on influencer advertising will be around $5 billion in 2023. Today, it is now one of the essential strategies in digital marketing. To better prepare yourself and get ahead of your competition, learn about the influencer marketing trends in 2023…
growth of direct purchases
The trend has spread rapidly in China and continues to appeal to other markets around the world. Live shopping means customers can buy products via a live feed: influencers go live on apps like Instagram, Facebook, or Amazon to describe and try products on. The audience can then ask questions about the product they have. Incidentally, Instagram has launched Live Shopping so that users can buy products directly from Instagram Live.
Compared to product videos where followers don’t really know what’s real and what’s not, live purchases thus provide an unedited view from an influencer to a trusted audience.
Reuse content generated by influencers
Gone are the days when repurposing content was a long series of ideas. Now, maximizing influencer-generated content should be part of your influencer marketing strategy.
Content redirection is gaining momentum as it allows you to have a stockpile of content. You can repost influencer-generated content on social media, use it for your online ads, or create an image gallery on your website. What’s great is that you don’t have to spend time and money making them, because influencers can do it for you!
In terms of complexity and volume, marketers should expect greater collaboration between key opinion leaders or KOLs and advertisers. This is the effect on the scale. There are about tens or hundreds of KOLs activated by marketers.
In the case of influencer marketing, this amount of collaboration is increasing with the increase in investment. In the face of this growth, the points of contact between a brand and its KOL will continue to grow given the number of exchanges required to establish each collaboration.
In general, brands and companies that use influencer marketing gradually increase the number of influencers they collaborate with. The more years that pass, the more they find the most appropriate way to manage this large number of relationships and now have long-term associations with these influential people.
With this trend, the amount of collaboration between businesses and influencers can reach millions.
Turning company stakeholders into influencers
Celebrities have a huge audience, but the influence of micro and macro influencers is growing immensely and their conversion rates are high. They target a specific audience and are sometimes more powerful than celebrity advertising.
Regular viewers connect with these influencers instantly. These common people become heroes, audiences turn to them for suggestions and advice. They don’t necessarily have to be celebrities: they just need to make the right impression on the masses.
This is why all stakeholders of a company, including shareholders, suppliers, customers and employees, are likely to become influential. Indeed, this approach involves assigning them to use or promote the brand’s services or products.
Many companies already use employees who are already influencers and content creators. Once noticed by the company, they are encouraged to regularly post work-related content on LinkedIn and their personal social networks.
In B2B, in order to improve their visibility, brands usually partner with their customers. In B2C, companies typically use social listening tools to identify customers who can potentially collaborate with them as influencers. Thus, using dedicated tools, brands reuse and enhance customer feedback as well as UGC or user-generated content.
Since the financial stake in influencer marketing is huge, it is important to measure the return on investment. Before starting ad campaigns, make sure they are effective.
Currently, influence is treated as a media theme intended to respond to both change and branding issues. Addressing the financial challenges posed by this trend, ROI has been placed at the center of customer concerns, prospects, etc. The latter are specifically asking questions about how to measure it, its indicators, performance of best practices, etc.
long-term impactful partnership
Now that influencer marketing approaches are becoming more common in a brand’s marketing strategy, we’re seeing the rise of a lot more methodical strategies, such as long-term relationships or “always-on” ambassadors. Why? Here are some benefits that brands should be aware of:
- Increase brand awareness;
- Increase trust and authority;
- reach the target audience;
- increase conversions;
- Connect to a larger market.
Long-term relationships allow influencers to learn more about the brand they are associating with. They will have a better understanding of the desired voice, tone and style of the brand.
More importantly, influencers will have more time to generate unique ideas that appeal to both the brand and their audience. So in 2023, if you want to stand out with influencer marketing, focus on long-term partnerships rather than one-time projects.
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