Influencer marketing is one of the paramount approaches used by brands for communicating with their target audience via social media platforms. It is a marketing technique in which brands or companies collaborate with influencers with an aim to increase awareness and conversions among a selected target audience.
According to the top influencer marketing agencies in India, influencer marketing is the fastest growing online customer-acquisition method that can help brands in achieving their business goals. Thus, brands now believe in building sound relationships with influencers who resonate with their offerings.
Moreover, a study claims that influencer marketing has become more accessible and measurable lately. While the domain has flourished over the period of time, it has also experienced rapid changes with respect to the approaches used by brands, influencers, and most importantly, social media platforms.
Here are some prominent aspects that are potentially changing the whole influencer marketing game:
1. Budgets are increasing
Trends reveal that brands are likely to increase their investment budgets for influencer marketing in the coming years. According to a study, companies spent almost $500 million in 2015 on influencer marketing ads and the respective can grow to $10 billion by the year 2020. Furthermore, almost 19% of marketers spent $1,000 to $10,000 per year while 18% spent $100,000-$500,000 per year on influencer marketing in 2019.
2. Demand for unique content is getting higher
Before the rise of the social media platforms and influencer marketing, marketers spent hefty amounts of money on traditional advertising channels. However, times changed and so did the marketing approaches. With social media audience becoming more selective and aware, the demand for a seamless experience and unique content increased. According to the best influencer outreach agencies, users can now easily distinguish paid posts from other content formats. Thus, brands are encouraging influencers to develop highly thoughtful and unique content to lure their audience.
3. Advertising Shift
A research claims that organic posts will not serve the marketing purpose comprehensively. Hence, there will be a significant rise in the paid media for promoting the influencer marketing campaigns. It is asserted that brands as well as influencers will boost posts for increasing user engagement. According to the top influencer marketing agencies in India, this paid boost will allow brands to take ownership and control the results.
4. Increased focus on video content
Video content is emerging as the most favorable content type for brands and businesses. According to a research, the world’s biggest video sharing platform YouTube experienced a 34% hike in terms of engagement in 2019 and the trend is likely to continue in 2020 as well. Thus, marketers are leveraged to invest more on the video content as it is a significant opportunity to increase the brand’s presence, especially on YouTube.
Despite of all the modifications, influencer marketing still prevails as one of the most dynamic and flexible marketing verticals that can assist brands in driving desirable results. However, it is important for brands to connect with the best influencer endorsement agency in order to gain maximum benefits from influencer marketing.