Influencer marketing has been constantly rising, it has increased almost 90 percent from 2013 to 2016. In 2017, influencer marketing strategy doubled in first nine months. There are various types of reasons which have led to this significant rise in influencer marketing campaigns in the recent times, as this type of marketing works for every type of business.
Since various businesses types have adopted this way of marketing into their marketing strategy, we believe it’s important to understand the influencer marketing trends that will dominate in the year 2018:
1. Value of services
There’s a continual rise in the number of influencers which are now active on social media platforms, both male, females have created accounts and have developed their community with thousands of followers. At the same time, several businesses have also taken up influencer marketing into their strategy. These influencers and business owners collaborate with each other to promote products and services. There is now high demand for social media personalities and the services they offer.
Majorly, all influencers deal with similar things and promote branded products for which they are approached, back in 2017, many companies sent free products to influencers for promotion on social media.
The increase in the value of influencer marketing does not necessarily revolve around money, influencers are now looking for more meaningful partnerships which mutually benefits both the parties. It’s better to go beyond finances and see how one can benefit from the right influencer marketing.
2. Key Performance Indicator And Return on Investment
Several companies are reluctant to using influencer marketing strategy because they are unable to track its results properly. We predict that in the year 2018, the demand for influencer marketing campaigns will rise along with the need to track the campaign with Key Performance Indicators (KPI) and Return On Investment (ROI). One will be able to track both KPI and ROI through the relevant tools for detailed analysis of the results. Also, we can expect new software for better tracking of the marketing strategy.
3. Year of Brand Integration
You might have noticed the potential influencer marketing has to improve a brand image, but it’s also important to understand all the options to choose the best type of influencer. We can categorize influences into three different groups: mega-influencer, macro-influencers, and micro-influencers.
Though 2017 was about micro-influencers, we assume 2018 will be focused on brand integration. We would be seeing more brands collaborating with various types of influencers to achieve their marketing goals. 2018 will be focused more on reaching the right target audience with the right influencer marketing strategy. It is important to combine the right set of influencers together to drive brand recognition and reach a loyal customer base.
It is no doubt that video marketing is way more effective than text/photos. People prefer something that provides them with more information in less time, instead of the heavily edited photoshop images. Video content is directly more engaging and eliminates the chance of manipulative content. Video marketing could become the biggest influencer marketing trend of 2018, as one could use this in both their timeline as well as in stories. Thus, it’s twice as effective than text-based content and posters. Learn how video marketing can be more effective.
5. More lawsuits against influencers and brands
Influencer marketing activities have led to the rise in social media posts where products, brands, and services are being promoted. Since there is a continual rise in this way of marketing strategy, the Federal Trade Commission (FTC) had to introduce new rules and policies.
In the year 2017, FTC had filed a case against individuals who failed to show their ownership ties with the brand while doing paid sponsorship promotions. Even though influencers and brands have become more careful with the rules and regulations, we can just expect there might be more lawsuits coming to an influencer marketers way in the year 2018. The reason being, undisclosed endorsements between both brands and the influencer which is now 93 percent. Other than lawsuits, we might be seeing some stricter rules.
6. Fake Influencers
While every brand has been trying to use influencer marketing strategy for their campaign, there also exist several ‘fake’ influencers who have simply purchased followers for a few thousand bucks, this itself creates a group of “fake” influencers. The follower account may seem real, but they only purchased those followers. Collaborating with a fake influencer can turn out to be a horrible decision, as they will take down the entire brand strategy with them. The best way to tackle this is to make sure the influencer we are working with is legitimate, so instead of focusing on the number of followers they are providing us with, we should check for the genuine ones by measuring their engagement and reach. Purchased followers are majorly fake spam bots, or accounts with low interaction/engagements.
7. Instagram to cross over 1bil users
Instagram remains one of the most popular platforms where influencer marketing happens, it crossed 800m users in September 2017 and is soon to achieve a milestone of 1bil users by 2018. The influencer activity on this app is worth $1billion and could cross over $2billion by 2019. Instagram’s lucrative influencer marketing platform is very engaging to the users with their visual interface incorporating photos and videos, which are highly interactive. For a brand, it has become important to stay connected with the influencers on social media platforms, especially Instagram so their brand could stand out in the crowd and gain much more public attention.
Influencer marketing gonna continue growing every year, and in 2018, we predict the best way to capture audience’s attention via influencer marketing would be with the help of promotional video content. Don’t forget to make sure that you choose the right influencer and the right target audience, keeping in mind the FTC guidelines (that may change) to avoid future issues. We also advise monitoring the productivity of your influencer marketing campaigns and influencer marketing strategy to be more effective in the market.