Influencer Marketing has increased 4 times the size in just 2 years’ time. The industry has evolved from being a promising marketing tactic to becoming an essential part of the business. It is a priority of big and small businesses alike.
The success was not because of any marketing tactic but the researcher has shown that influencer marketing has seen to fulfill many goals.
There were some key points of growth previously like the cross-channel social campaign has become important. Brands began to contact the influencers which were outside their industries. Hence, just because a brand operated in food industry does not mean that they would stick to food influencers.
With the changing times, influencers started working with big brands and Federal Trade Commission increased the regulatory charges which included 90 warning letters to brands and influencers.
The growth of influencer marketing is supposed to increase 5 times by 2021. Wondering how 2018 will be for influencer marketing? Read on to find out more!
Influencer marketing budget will increase
Social Media content has a huge impact on the customer’s overall purchase. On an average, a customer engages with around 11 articles before making a purchase. Hence, a clear opportunity for influencer marketing waits for those who wish to jump into it.
Influencers can help the audience through educational content phases like tutorials. But, they can also be used again during the decision or purchase phase by leveraging the content for retargeting ads and incorporating promo codes. Depending on the possibilities an influencer has, marketers, can start to set a big portion of the budget to carry the impactful changes.
Due to the growing popularity of ad blockers, traditional marketing has become less effective. Many brands have also been confining the influencer budget to test their products and the effectiveness of the channel.
As a result, marketers are increasingly putting efforts on the social media. This is done either through direct spending or through taste key makers on the platform like the influencers.
Measuring and tracking campaigns will be the key
As Influencer marketing becomes more consistent, marketers will need to improve their strategies from time to time. Marketers will need to further evolve strategies while they approach influencer partnerships.
Increasing the budget for influencer marketing will only be successful when it is aligned with the objectives. This means when one invests in proper software to track content and measure to predict the success of influencer marketing.
The vast majority of partnership still goes on the top 1% of the influencers. It is hard to find upcoming influencers. In addition, it has become more cumbersome when it comes to 25 micro influencers under 1 large influencer.
Brands have been nervous about working with the lesser known creators. But they do realize that they can create incredible content and drive strong engagement as compared to mega influencers.
So, 2018 is a combination of growing expectations of the marketers along with the emerging technology platforms which create efficient working with large influencers.