Modern influencer marketing on social media became a thing in 2006. Since then, it has proven to be a successful tool for business growth, with many organizations flocking to get a piece of the action and reap the benefits. Creators have significantly helped brands to acquire new customers and achieve huge sales and revenue. Years passed, and influencer marketing is now on a leap. How did this strategy change over the decade? Is it still effective today? Learn how to keep up with the influencer marketing 2020 trends and get your business on top with the strategies and examples provided in this article.
People currently rely on digital information for fashion ideas, lifestyle tips, healthy habits, professional advice, and more. Luckily, content creators have made the search easier. People look up to them for inspiration and life concepts. Having this kind of influence made it easier for creators to establish an online buzz and help businesses grow. What does influencer marketing mean? And how successful is influencer marketing in 2020?
Influencer Marketing Explained
Influencer marketing is a type of marketing strategy that focuses on driving your brand’s message to a larger market with the help of social media creators. Instead of direct marketing, you hire and pay creators to get the word out for you. They’re responsible for supporting your brand, endorsing your product, and co-creating content—to increase brand awareness and drive more sales and ROI.
Working with creators does not only mean they should have a great following. More importantly, social media creators must have a strong online reputation and should match your niche. If not, then you can never hit the right market. You pay creators to advertise your products and services, so they must have a full grasp of your business.
Let’s look at some influencer marketing stats 2020 to better understand the impact of this campaign:
- 91% of marketers find influencer campaigns effective
- 89% of marketers said influencer marketing ROI is better than other marketing channels
- 71% of firms believed that customer quality and traffic is better in influencer marketing compared to other marketing sources
- 55% of firms have a standalone budget for influencer campaigns
Based on these data, we can say that the state of influencer marketing 2020 is successful and will continue to have high demands over the years. What’s the most useful platform for influencer marketing?
What is Instagram influencer marketing? The best definition can be found by knowing what Instagram can do for your marketing campaigns. You can do a lot when it comes to promoting on Instagram. The basic format is through posting content on a feed. Creators may add a business link or mention you on the caption. They can also include “paid partnership with” on the location, publish sponsored posts, or tag your business account. For Instagram stories, creators can add a “Swipe Up” button where they can paste your website link. However, this feature is only possible for those who have over 10,000 followers.
All these access make Instagram an influencer-marketing-worthy platform. Studies have even showed that nearly 90% of all influencer campaigns include Instagram as part of the marketing mix. Your business can go a long way if you’re keen to partner with relevant Instagram creators and explore what more this social media network could offer. With the right concept and budget, Instagram can be any marketer’s favorite promotional tool.
Current Influencer Trends
Staying updated is essential for any business to thrive. Marketers should always welcome new ideas and opportunities, and work hard to remain on track. Below are the top influencer marketing trends 2020 that every business should know.
Influencer out, creator in
Before the word “influencer,” there was “blogger.” Unfortunately, people mocked these terms and addressed someone who sees himself as an influencer as “fake.” Apart from paid partnerships, influencers also accept hosted stays, ex-deals, and barter agreements. Some audiences are aware of that, so they might find influencer testimonials insincere.
Of course, influencers get hurt when they’re called fake or insincere. It’s a profession after all, and they put so much passion, time, and effort into content creation and promotion. Hence, the term “influencer” is out in the trend, and “creator” is in. If you’ve noticed, we have been using the new term in the previous sections of this post.
We honestly think “creator” is more appropriate, though, since influencers are more into creative and interactive content. Even before the new term was born, some influencers were already using job titles like Content Creator, Creative Director, and more.
Celebrities are becoming less influential
We all know that celebrities have luxurious lifestyles, and they’re promoting it that way. Unfortunately, this might not work for the masses. Not everyone can afford luxury. In fact, people are up for thrifty but worthy shops, even those who belong in high-class society. Also, celebrities don’t put much work on creativity, and some even don’t know how to promote a product. Hence, your brand may get a million reach or engagement through celebrities, but not the same amount of sales and conversions.
Values will be vital
Aside from finding a creator who has the same niche as that of a business, owners are now looking into promoters who share similar values with them. This can also be applied to a consumer’s behavior when buying products and services. Customers follow and trust a brand or creator who aligns with their principles. It’s a simple domino effect, and it all begins with your campaign goals and values. Achieving authenticity and genuine content is also easier when values are incorporated in every partnership.
Higher competition for creators
Like any business, creators go where the cash flows. Instead of monetizing from paid sponsorships, they thrive on getting paid directly for their content. Creators are also exploring more ways to generate revenue from their own merchandise and constantly working hard to produce sellable content.
While creators are competing for popularity, this could also mean that businesses will be battling to get the best promoter on the market. And the higher the demand, the higher the price. Luckily, creator hubs and influencer research tools are available online – and they will make your search more conveniently.
Long-term agreements will be the new norm
If your business is already into long-term partnerships, then this might not come as a shock. Normally, companies pay creators on a campaign-to-campaign basis. But studies show that this strategy may weaken your influencer marketing campaign. The tendency is the creator will move on to new products and services after they’re done with yours, which could be bad for your branding image.
To start with, create a long-term campaign and let your creator sign a contract. Say, you’re releasing a travel video, and the creator is your model or videographer. You can state in your contract that they can’t partner with other travel-related businesses in your local area within a specific period (depending on the length of your campaign).
Furthermore, if you’re into the beauty biz and release a cosmetics line, you can include in the contract that the creator shall not promote other beauty products unless your cosmetics campaign is finished. Longer partnerships are more convincing and persuasive. Where one-off campaigns come flashy and easy to forget, regular collabs make it more convenient to believe an influencer endorsement.
Building an Influencer Marketing Strategy 2020
To get the most out of your partnerships, you should establish a unique strategy. An influencer campaign’s success begins with an objective and the determination to achieve your goals. Plan your next campaign and follow the steps listed below.
Step 1: Research
Much like any strategy, research is the first step. Look at your competitor’s campaigns and learn how they advertised it. From there, create your campaign goals and objectives and determine your desired results. Set your tone, style, strategies, and the duration of your campaign.
Step 2: Find creators in your industry
After drafting your campaign details, you’re now ready for the lookout. Make sure to choose the network you want to focus on first before finding your creator. Most businesses prioritize Instagram for influencer marketing, while others also use Facebook, YouTube, and even TikTok. When you search for creators, use hashtags that are relevant to your niche or influencer research tools like SocialBlade and BuzzStream. You can also tap local influencers, especially if you run a micro business.
Step 3: Communicate
You may have a list of few prospects, but when you’ve already chosen the right creator, the next step is to reach out. Like any business, the standard way to communicate is through email. But you can also send direct messages, depending on the situation. Worst case scenario, comment on the creator’s post if it took so long for them to respond.
When you reach out to your chosen creator, make sure to state your objectives clearly. Acquaint them with your business first, then go into the campaign details. Always accept suggestions and ideas – this will leverage your influencer marketing strategies. Come up with an agreement, and when everything’s settled, start your campaign right away.
Step 4: Measure your campaign
You might be thrilled with the idea of influencer marketing, but don’t forget to measure the effectiveness of your campaign. Keep track of engagements, reach, follower growth, and website traffic. Most importantly, make sure that your influencer campaign is getting new leads, clicks, sales, conversions, and a reputable ROI.
If one of these metrics fails, discover what went wrong, and work hard to develop your campaign. On the other hand, if you become successful at the first attempt, don’t rest on your laurels. Always make room for improvements and never stop learning.
Step 5: Keep connected to your creators
Strong and lasting relationships is the best ingredient for all campaigns. The end of an advertisement should not be the end of your connection with your creators. Make them valued by consistently engaging with them online, recommending them on your site, or even posting testimonies on their blog pages. Make them feel that there will be a “next time” and that you appreciate the efforts that they have put into your campaign.
The Best Influencer Campaigns in 2020
Assuming that you already have a full understanding of influencer marketing trends and strategies, here are a few examples from successful brands to inspire you and help you get started with your campaign.
Clothing and Apparel: Tommy Hilfiger
The campaign name was #wishyouwerehere. Promoting their new eyewear collection. Tommy Hilfiger partnered with authority creators and ensured that its hashtag was synonymous with the campaign message. The brand garnered over 27 million impressions and a campaign ROI of more than 400%.
Goods and Sweets: Chupa Chups
The campaign goal, named #chupachupschallenge, was meant to re-engage with the company’s lost audience. Targeting Generation Z, the Chupa Chups creators made fun content—from now-versus-then photos to back to school pranks. They’ve also incorporated #foreverfun along with their main hashtag. The campaign gained more than 30 million impressions and an almost 10% engagement rate.
Gadgets and Technology: Samsung
Samsung established the #samsungpinkwall campaign, intending to share its values with a new millennial audience. The brand introduced an ambassador program that allows creators to produce and create passion projects with the help of Samsung. The campaign successfully established trust among its new customers, achieving almost 3 million social media impressions and over 650 post shares.
Again, these are just a few influencer marketing examples and inspiration. Keep in mind that you can create your own.
So, is influencer marketing still effective in 2020?
The short answer to this is yes. The long answer is also yes, but it depends on the business’s capability to stay flexible, keep up with the trend, and build unique and effective influencer marketing strategies. You should never stop learning and constantly create ideas to make your brand stand out. For good measure, make sure to learn techniques on how to become an influencer.
Can you still become an influencer in 2020? Absolutely. It’s not too late to become a social media creator today. Like what other businesses do, you just have to find your niche, love the craft, and build a strong online reputation. Check out our influencer marketing guide on “How to Work with Social Media Influencers” to master the art of communicating with creators and establish long-term relationships.
Influencer marketing is a lucrative business strategy. If you haven’t explored it yet, now is the time to start.