Redefining Influencer Marketing in 2020
a prophecy in the making
2020: The global pandemic has left us all glued to our phones, scrolling through Instagram, Facebook, TikTok… the list goes on. The economy has taken a hit, and companies are struggling to sell their products.
A long list of problems with one solution — influencer marketing.
With the never-ending lockdown, the average time spent on Facebook and Instagram went up by 62%, while TikTok saw a 44% surge, LinkedIn a rise of 27% and the time spent on Twitter increased by 34% between February 5 and March 29.
There has never been a better time for Influencer Marketing. But, with the world redefining “normal” every single day, this industry must do the same.
Trends to watch out for in 2020:
1. The Nano (1-10K following) and Micro-influencer (10-100K Following) industry will grow. These influencers generate far more money on a cost-per-engagement basis.
Wait, what? Less followers, but more revenue…? Well, these influencers usually embody tighter relationships with their followers. As a result, followers are more likely to buy products advertised by nano and micro influencers.
2. Gamifying the campaigns through contests and giveaways will maximise the return on investment.
As a race, we’re competitive. We’re always looking to win. But don’t take my word for it, take Buzzfeed’s.
3. Quantity will become the new quality; it is impossible to predict the right influencer for your company until you have tested them.
Relationships can’t always be explained, and lockdown has taught us that. How many times did you wonder how your friend from freshman year or the barista down at your favorite cafe has been faring?
4. Repeated exposure is vital. Studies reveal that we need to see an advertisement an average of 7 times before we buy a product. This makes having brand ambassadors a powerful tool.
How many times have you seen the same YouTube or heard the same Spotify advertisements? If someone mentioned those brands, I’m positive you’d remember the entire advertisement, jingle and all.
5. TikTok will soon take over the influencer marketing landscape.
The famous video-conferencing software, Zoom, has seen a surge with 12.92 million monthly active users in just Feb, 2020. With millions of webinars hosted monthly, there’s a huge information overload today. As a result, attention spans have reduced. Thus, TikTok’s short-videos have become increasingly popular — even for influencers.
2020 is a year filled with change. It’s time to change Influencer Marketing now.