You Won't Believe How Influencer Marketing is Evolving
Here's a thought, if you're looking into revamping your marketing strategy in 2020. GET INFLUENCERS ONBOARD!
Influencer marketing isn’t going anywhere, it’s evolving as each day passes just as the number of influencers is constantly growing and creating some useful content for brands and users.
In 2019, influencers saw some big shifts around influencer marketing, however, the big move of hiding likes by Instagram surely shook people all over. Some saw it as, soon-to-be death of the influencer community while for some it was an opportunity to look at new metrics, focus more on a diverse range of metrics like engagement rate, conversions, and website traffic.
As reported on Glossy “…In some industries, like in cosmetics, in fashion and CPG, as well, [influencer marketing] is starting to compete with media plans, Media planners, media planning firms and agencies have been dismissing influencer marketing for a long time, and now it’s starting to eat up some of their budgets. Now they are paying attention. In 2020 and 2021, there’s probably going to be an all-out war between media planners and influencer marketing.” said Assayag
Pioneers of social media marketing, Revolve went public in June and the company shared that, in 2018, influencers drove 70% of sales for the company, which was valued at $1.2 billion as reported onGlossy.
In 2019, the influencer marketing economy was expected to hit $6.5 billion, according to Influencer Marketing Hub, with 86% of brands saying they planned to invest more in influencers throughout the year. This goes on to show how successful the company is via influencer marketing.
It's worth thinking about if you're a business looking to strategize how to make the most of the latest trends!
Fashion and beauty brands have been working more micro-, nano- and macro-influencers to build a long-term partnership with influential people, rather than a one-off contract to post on Instagram.
“One-off influencer marketing posts do not make an impact or resonate with consumers. It is essential for brands to invest in this form of marketing versus just dabble in it,” said Sherry Jhawar, co-founder and president of Blended Strategy Group on Glossy.
Social media influencers have mastered evolving with new trends, there’s no doubt we can expect to see exciting new things in the influencer space in 2020!
What are your thoughts? Let us know in the comments.
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