Over the years influencer marketing has come a long way from the original celebrity-based endorsements. In today’s social media driven-driven world where everyone from your grandpa and grandma to your child uses social media several times a day, it has quickly become the most effective way to advertise online.
As more businesses begin to incorporate influencer marketing into its marketing mix, it continues to evolve and adapt to the market. Here are 10 trends for influencer marketing in 2020 that can help you get the most out of your influencer marketing campaigns.
1. Micro-influencers on the rise
Bigger is not better when it comes to influencer marketing. More and more companies are beginning to prefer the power of micro-influencers, who generally have fewer than 10,000 followers on social media.
These influencers are seen as more like “normal” people and tend to interact with their followers more frequently, and are viewed as more relatable and authentic. Their engagement rate is also a lot higher than influencers with a larger following, and they tend to have a strong knowledge of their niche and audience.
2. Incorporation of storytelling
The best marketing strategies ignite your customers’ emotions to drive purchases, and what better way to do that than through storytelling? Stories connect us through shared human experience and empathy, are remembered twenty-two times better, and are extremely effective to inspire us to take action.
Influencers and marketers alike have realized that and began embracing this in their promotions. One study from ad agency Hill Holliday found that not only are customers more likely to buy from a brand with a good story; they’re also more likely to pay a higher price per item.
3. Video marketing is growing
For years we have been aware of the high impact of media advertising over textual advertising. Media is more effective at both capturing attention and engaging interest.
With the advancement of technology, it is now easier than ever to watch videos without having to worry about your data plan or bad internet connection. This is supported by a study conducted by Biteable earlier this year
- 81% of businesses use video as a marketing tool
- 6 out of 10 people would rather watch online videos than television
- mobile video consumption rises by 100% every year
- a Facebook executive predicted that their platform would be all video and no text by 2021
This shows a clear trend in the growth of video which will most likely only continue to grow. The growth of TikTok is only another supporting factor of this trend and its strengthing in our society.
4. Authenticity & honesty is a must
Influencers work hard to gain the popularity of their followers and maintaining them by providing relevant information and content that keeps them entertained and informed. This has resulted in influencers becoming more selective about the brands they do business with and how they promote their product.
Audiences don’t want to see “salesy” ads by the people they admire, and if they do they will most likely ignore those posts (and possibly unfollow those influencers if they begin seeing that as the focal point for the influencer’s channel). The most effective way to get the most out of influencer marketing is to ensure that the influencer promoting the product genuinely loves the product (possibly already uses it before the endorsement) and wants to share it with their audience.
When possible, brands should try to get the influencers to talk about specific things they like about the products or services they promote. Adding a description of how they use it in everyday life and sharing any other interesting insights or tips they have about the product or service is another quality of effective influencer ads.
5. TikTok is starting to share the spotlight
Many people have seen this coming a mile away but TikTok is now becoming one of the most effective influencer marketing channels in the world. Not only is it growing at exponential rates, but the combination of the trend we see in video streaming and the constant media presence we have recently seen due to US regulations has put the platform in the spotlight even more than before.
TikTok is not the only emerging platform for influencer marketing. Although Instagram still holds the crown, it is important to begin looking at other potential channels for your marketing endeavours and how they can benefit you and your company.
6. Beware of fake followers and engagement
This is becoming increasingly more dangerous and it is important that you use a platform that helps you filter out fake followers and engagement. The days of being able to contact an influencer you like yourself are nearing the end.
The chance of you actually picking an influencer that isn’t using some sort of fake engagement strategy to increase their followers and engagement are becoming smaller by the day. Up to 20 percent of mid-level influencers’ followers are likely fraudulent, according to a Points North Group study.
At AdMass we spend most of our time making sure that our algorithms weed out the fake and help you determine which influencers will be more powerful at representing your brand. We provide you with engagement metrics and an Ad Score which uses an advanced algorithm and harnesses the power of artificial intelligence to help you ensure that your engagement is real and will provide your brand with not only visibility but customers as well.
7. CGI influencers are emerging
One of the most innovative trends in the influencer marketing community is the emergence of computer-generated influencers. These are virtual influencers that are created by companies and act as real influencers with one small difference - they are not. What is incredible is that these influencers are actually growing at an exponential rate.
Lil Miquela is an example of such an influencer. She is a CGI influencer with a unique look and style who currently has over 2 million followers. Brands like Prada, UGG, Diesel, and Samsung have already worked with her, which is more than many real influencers have achieved.
8. Brands are increasing influencer marketing budgets
Brands are now feeling a lot more confident by the positive ROI influencer marketing generates, which has resulted in larger budgets. In fact, 89% of marketers say that ROI from influencer marketing is comparable or better than other marketing channels.
A recent MediaKix survey indicates that 17% of companies will spend over half their marketing budget on influencer marketing. We believe that these numbers are only going to grow with all the emerging trends that we are seeing in the world of social media advertising and the power which social media holds in our society today.
9. Hosting dedicated influencer events
Although the pandemic has slowed this trend down a little, it has not put it to a halt. Companies have been increasingly organizing luxurious trips to exotic locations for their influencers. All expenses are paid, and the influencer’s only job is to enjoy and promote the brand along the way.
One of the biggest brands that have been applying this methodology for some time now is Revolve. Recently they started hosting their own festival-like event within Coachella called the Revolve Festival.
The Revolve Festival is an invite-only event and is now famous among influencers. Since all the guests are wearing their clothing, the event brings huge attention to their brand and their products. Although this may seem attention-grabbing to some, the audience loves seeing all their favorite influencers in one place.
10. Gaming influencers are on the rise
The rise of live streaming has brought a lot of attention to gaming influencers. YouTube, Facebook and Twitch dominate this sector of influencer marketing.
The global gaming market is expected to exceed $180 billion in revenue by 2021. This would present a 30.6% increase compared to $137.9 billion in 2018.
Some of the most popular gaming influencers are currently:
- PewDiePie — 103 million subscribers on YouTube
- Markiplier — 25 million subscribers on YouTube
- VanossGaming — 24.9 million subscribers on YouTube
- Ninja — 22.8 million subscribers on YouTube
These numbers speak for themselves. Gaming influence is rapidly growing and is quickly attracting the attention of major brands. With the trends we are seeing in 2020, this growth is expected to only increase in the years to come.
Although 2020 has brought along with it a number of challenges such as the pandemic and global warming to name a few, the influencer marketing industry has only seen growth and expansion. As we are preparing to enter the next year in a number of months it is important to arm yourself with these trends and to continue incorporating them into your influencer marketing endeavours.
We hope this article serves you well, and if you are looking for an all-in-one influencer marketing platform with no registration or monthly fees to help you boost your revenue from influencer marketing - we are here to help.