2015 was the first time wave of Influencer Marketing when brands were just beginning to test Influencers.
But they were small and doubtful steps as Influencer Marketing was seen as unpredictable, risky, and expensive due to the lack of data and measurement.
Since then, a lot has changed. In 2016, the Influencer Marketing industry was valued at 1.7 billion $ and now it is expected to reach 15.7 billion $ by 2024.
What has changed so far?
Today, Influencer Marketing comes first in brands’ marketing strategies.
It is much more measurable and less costly than others. While the investments and trust in Influencer Marketing increasing, Let’s take a look at the parameters that are expected to fuel Influencer Marketing in 2023!
1- HYBRID MODEL
With the pandemic in 2020, online shopping has become too popular worldwide. But especially in 2022, people got back to their daily routines and the effects of coronavirus diminished. Now some people shop indoors while some go online still.
Undoubtedly, adopting a hybrid model that includes online and in-store will be more realistic and less risky today.
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But don’t forget, for long-term success, you should be relying on online mostly.
2- TARGETING THE RIGHT MARKET
We stress the importance of the target market in almost every blog.
As the year passed and the market grew, there are dozens of influencers from every category on many social media platforms now.
While there is such a crowd, it is hard to get noticed. So another recommendation for 2023 is to target Gen Z and Y in your campaigns.
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Gen Z is going to be the most influencer-friendly generation yet.
It is observed that Gen Z becoming pickier, much more aware, and much more knowledgeable.
What they are looking for is originality and since they are the kernel of the market today, they should be convinced by Influencers.
So, running noncasual and authentic campaigns would be on the agenda of 2023.
3- KEEPING UP WITH THE TRENDS
Right after discussing the target market, you may notice that catching up with the new generations goes from touching on trends.
Last year, especially short but simple videos on TikTok are watched wildly.
TikTok is the number one platform for viral trends. How did they achieve it?
The formula is simple. Lights, Camera, Action.
It is fueled by sound, colors, and joy. Good content is likely to go viral on TikTok much faster than on other platforms.
Simply people are creating videos out of their own stories and it is spread over millions.
The story is constantly changing from social media challenges to song imitations, dialogue reenactments to animal videos.
This feature of TikTok inspired Youtube and Instagram.
They adapted this short-video idea under the name “Reels” and they joined to the game.
Instagram’s Reels part gave Influencers a place to attract users.
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With short videos of at most 1 minute, Influencers create content and show them in Reels.
It is also highly beneficial for the Music Industry. InstaMusic library changes and refreshes as the music trends change.
So, within Instagram and TikTok, you may arouse interest via trend music and content.
4- ALL INFLUENCERS TREND
You’re wrong if you think Influencer Marketing is limited to Influencers only.
“All Influencers” refers to promoting the stakeholders/shareholders of the company.
It is not only the social media or content team of the company that runs the campaign, but also the employees and customers.
You should probably have seen some posts on Linkedin where employees share their work experiences and the company atmosphere.
One example of this is Unilever’s virtual office tour option via a link. By doing that, they gave an idea about Unilever and also attract potential candidates.
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These posts reveal the actual background of the company and the working space.
It simply gives people a sense of trust in the company as they find it more realistic to see posts from employees.
So, you should definitely include “All Influencers” into your marketing strategy.
Within the big picture, as a company, you influence with all your power and create brand awareness.
5- ROI-driven Influencer Marketing
After the increase in Influencer Marketing value, many functions are added to the social media side.
A visible change is basically the measurement of performance.
Building a partnership was not that easy earlier.
But now, payments are made based on a variety of metrics which you can take a look at from here.
These advancements eased many things in Influencer Marketing.
When you are collaborating with an Influencer, you can track the performances, clicks, or whatever you are searching for through panels.
One of the platforms that provide this function is Infleap.
For advertisers, it is pretty easy to find the right Influencer and track the campaign via Infleap, which gives you a strong idea about the ROI.
ROI varies from brand to brand; it is highly dynamic.
As long as brands set a goal and take necessary actions for the sake of their campaigns; they can now reach the ROI they want, which will definitely be important criteria in 2023.
Innovation in measurement technologies will enhance the partnerships between brands and Influencers.
6- WHITE LABEL PRODUCTS
· For 2022 it was expected that 54% of the firms working with influencers operate eCommerce stores.
Now we see that it could be even more in 2023.
White label technology, also called “rebranding”, is one of the discussion points today.
Brands seek time and cost efficiency, speed, and return.
And white label provides them with the existing software to produce products and services under another brand’s name.
Such a model is simply precious for small businesses and startups.
While using another brand’s name, they can save their resources and launch their products& services with White Label Tech.
It is quick, efficient, and safe and will get much more common ahead.
On the E-Commerce side, there is also a new function we should discuss.
If you are an Instagram user, you should ‘ve probably seen this:
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This is basically a direct link between social media and e-commerce.
Many businesses added this “shoppable” feature to their pages, and it seems to increase social commerce sales in 2023.
What we see from this picture is, that the borders are much more obvious and the rules are simple.
Performance tracking, measurement, and detecting fraud are all much easier than yesterday.
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