These are the trends expected to shape the Influencer Marketing industry in 2021:
Instagram will be king.
While it is true that every social media platform has influencers with different levels of followers, Instagram dominates over them and the difference is stark. 79% of brands already use Instagram for influencer marketing compared to other social channels. This makes sense as the platform is expected to surpass 900 million daily users in 2021. Instagram also has some of the most niche Influencers whose audiences tend to be very engaged. This can help drive more targeted leads to your business, ultimately resulting in greater conversion rates.
Micro-influencers are in.
Micro-influencers and nano-influencers (<100,000 followers) have some of the most targeted audiences online. In the past year 46.4% of all #ad mentions used on Instagram came from accounts with 15,000 followers or less. This means that more brands are recognizing the value niche influencers bring to their product or service. Micro-influencers also have some of the highest engagement rates on Instagram, making them ideal brand partners,
Videos are the way to go.
2020 was the year everyone got hooked onto short form video content. If the rise of Tik Tok wasn’t evident enough, Instagrams launch of the Reels feature confirms that this form of video content is here to stay. With brands like Android, L'Oréal Paris and Nestlé already embracing short form video Influencer campaigns, other brands are sure to follow.
Analytics will be key.
As more and more brands include influencer campaigns in their marketing strategy, tracking the ROI from these campaigns will be more important than ever. 2020 already saw a move towards more performance based marketing in this space. This trend makes sense because as influencer marketing budgets go up globally, the need to vet engagement, clicks, and attributed sales is expected to increase. It is a good time to invest in softwares or automated tools to help you track these metrics efficiently.
More long term partnerships.
In the initial days of influencer marketing, one-off brand deals with different creators seemed to be the norm. However, this trend appeared to change in 2020 as it became clear that brand loyalty drove greater sales. This strategy has always been popular on YouTube where brands are known to form long term partnerships with niche influencers. This trend is once again a consequence of the drive towards performance based marketing. Increasing reliance on analytics will mean that the best performing influencers are retained for multiple campaigns.
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Ultimately, Influencer marketing is about showing off the utility your product or service provides more than it is about showing off your actual product. It is value based marketing in its truest sense. Audiences respond to Influencers recommendations most when they believe it is a genuine one. That is why 2021 is the year to work with creators and influencers whose values align with your brands.
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