Recent estimates present influencer marketing set to become a $15 billion dollar industry by 2022, based on Business Insider. It ought to come as no surprise, then, that 63% of marketers plan to extend their influencer marketing budgets in 2021. As the popularity, demand, and marketing spend enhance for influencer marketing. It is essential to pay attention to those influencer marketing trends and advert on the right things.
1. Micro and Nano Influencers Will Get Extra Love
There are totally different types of influencers, from nano influencers with just a few thousand followers to celeb influencers with millions. Based on a 2019 report from Later and Fohr, micro-influencers, notably those with fewer than 25,000 followers, have the highest engagement rates at around 7%. Considering that engagement rates on Instagram have been declining, influencers with an engaged following are getting a closer look from businesses, even with fewer followers. By focusing on nano and micro-influencers, manufacturers will be capable to stretch their influencer marketing budgets whereas still working with influencers. Those are deeply linked to their audiences and influencers will benefit from partnerships with a growing variety of manufacturers.
2. Manufacturers Will Look for Ongoing Partnerships Instead of One-Off Projects
Throughout 2021, expect manufacturers and influencers to join together for long-term, ongoing projects reasonably than one-off sponsored posts. There are a number of causes for this shift but, ultimately, it comes down to this: it takes time to make a sale. Even influencers with the most engaged audiences are going to have trouble making any actual contribution once they’re brought on for a single sponsored post. If you wish to capitalize on these influencer marketing trends, we suggest creating packages that you may sell to manufacturers seeking your providers that embrace a number of sponsored posts over a period of time, much like what they might tend to do when operating Facebook ads or ads on different platforms. It could additionally assist to hitch an influencer marketing network to give yourself some legitimacy.
3. New Social Media Platforms—and Varieties of Influencer Content—Will Pop Up
If 2020 has taught us anything it’s that we always have room for more social media platforms. TikTok had a stellar year due, largely, to the pandemic that swept the globe and kept people indoors with little to do. However, TikTok is not the only new social app to come out of the year. The exclusive, invite-only, audio-based social app Clubhouse and Reels (Instagram’s answer to TikTok) additionally joined the party in 2020.
When TikTok took off in early 2020, influencers were right there with it, amassing followers on the platform and partnering with manufacturers to create sponsored posts and advertisements. There’s no doubt that TikTok’s popularity will continue to surge throughout 2021 with both influencers and brands alike. Platforms have additionally taken lessons from a life in a global pandemic to heart, too, making it simpler for manufacturers to create and amplify branded content and for customers to buy on the platforms. These trends will continue throughout 2021.
Along with the new social media platforms, we’ll begin seeing new and experimental types of media together with a giant push towards AI-driving influencer marketing platforms. CGI influencers have already begun to have a moment and as technology continues to advance influencers will provide you with even more sorts of highly-shareable content with the potential for virality.
4. Performance-Based Deals Will Enhance
As manufacturers and influencers alike search out long-term partnerships, it is likely that performance-based influencer marketing will enhance. This means that purchasers will expect influencers to deliver on their promises such as a particular variety of sales or clicks. In case you’re an influencer confronted with a performance-based contract, you may wish to consider turning it into ongoing royalties instead of accepting a single payment. You will additionally wish to be diligent in your contract review before signing to ensure you know what you are agreeing to before guaranteeing a particular return.
5. Influencers Will Become More Specialized
We have already seen influencers carving out niches for themselves and that is an influencer marketing development that exhibits no signs of changing. Influencers will proceed to develop expertise in their niche or business, making them even more sought after by manufacturers in these verticals. As an influencer, it may be time to consider what industries you are most passionate about and begin courting partnerships with manufacturers that make sense for the direction you select to go. This is an instance of a specialized influencer (just take a look at the bio!):
As influencers become extra specialized, we’ll likely see a shift within the language that we use. We’re already seeing some influencers go for being called “creators” or “content creators” instead. Since so many influencers are true artists—photographers, videographers, writers, etc.—it is not surprising that they’d wish to be known for what they actually do instead of being lumped together as “influencers” or “web celebrities.” We think they are often each, however, be looking out for these key changes in verbiage.
6. Influencer Collaborations Will Enhance
Influencer marketing trends indicate that 2021 will bring us more connections and collaborations between influencers. We have already seen influencer houses become a thing. Influencer networks seek methods to increase influencer marketing campaigns and earn more return on their efforts.