The Future Of Influencer Marketing
A few years ago most people were unaware of influencer marketing. Now it’s suddenly become an integral part of a brand’s marketing strategy.
Marketing platform Activate found that two thirds of marketers think that influencer campaigns have helped improve their bottom line by helping to reach a more targeted audience.
In the days of old, a popular or celebrity or leading athlete would be paid a lot of money to sponsor a product. Nowadays, there are so many people who want to be influencers that brands no longer have to fight amongst themselves. Brands are now in control and if an influencer becomes difficult to deal with, or too expensive then there are countless replacements lining up to take their place.
With the increasing pool of influencers ready to go to work and promote brands from all walks of life and any niche, what are the major changes in influencer marketing and what does its future look like?
1. Advances in technology
Marketers can really get in there and analyze the relevant data before making decisions throughout their influencer campaigns. Key examples of this, is looking at an influencer’s audience, the breakdown of sponsored vs organic content, feedback from followers, and perhaps most importantly, how well previous campaigns have performed.
The ability to automate influencer marketing campaigns is also likely to be enhanced. HYPR is set to release an analytics tool that ensures sufficient ROI is being achieved, by automating posts and analyzing relevant metrics. The marketer just needs to select the relevant demographics and the system finds the ideal influencers.
2. Less scope for fraud
A major breakthrough in improving transparency and reducing the likelihood of fraud was made when the Federal Trade Commission required influencers to show when any of their posts were sponsored.
A big problem in the world of influencer marketing is fake accounts. It’s been estimated that up to 15% of Twitter accounts are actually bots and it’s difficult to measure accurately whether an influencer is falsifying their profile by buying fake followers. While having fake followers makes an influencer appear to be more valuable, there is technology available, such as a tool by Influencer Marketing Hub. Here, an influencer a score on whether their followers are both real and engaged.
This makes it essential for an influencer to keep on top of their account, behaving in an ethical and transparent way. Otherwise they may find themselves being black-listed by many of the highest-paying brands.
3. More nano-influencers and micro-influencers
A nano-influencer is someone that has around 50,000 followers, while a micro-influencer is someone that has around 5,000 followers. While they don’t have the same reach as a celebrity in sheer numbers, a micro-influencer is likely to have a more targeted audience and will be more accessible and possibly easier to work with.
4. Influencer programs are moving in-house
Many large brands are moving their influencer programs in-house, for example Macy’s incentivizes its employees to promote items on social media