Influencer marketing is growing at a rapid rate and it’s clear to see why. Brands that partner with micro-influencers or niche-focused individuals have been shown to get much better results than those who work with traditional celebrities or ‘big name’ influencers.
In this blog post, we explore the future of influencer marketing, including predictions for 2023. This article looks at how Instagram will continue as the leading platform for marketers to partner with influencers, how social video will become even more integral in the future, and how artificial intelligence will change the way brands work with micro-influencers.
What is Influencer Marketing?
Influencer marketing is a marketing technique that uses people who have influence over their audiences to promote a product or service. These influencers could be social media stars, bloggers, or any active and engaged members of a niche community.
Essentially, brands partner with influencers to reach out to their potential customers and increase the reach and impact of their marketing campaigns. The main idea behind influencer marketing is that the product or service being advertised gets attention not because the advertisement is loud, but because it is promoted by an influencer whose word people trust.
This trust factor makes people more likely to click on the given link or visit the website and buy the product or service being advertised.
What’s Currently Working for Influencer Marketing?
There are a number of trends that are currently working well for influencer marketing. The first is a focus on niche-specificity and authenticity. Micro-influencers have become the darling of the industry, in large part due to their authenticity and focus on niched niches.
They are the experts in their field, and their audience trusts them. This is why micro-influencers are highly sought after for partnerships. Another trend that is working well for influencer marketing is a focus on social video.
The rise of social media has meant that consumers have never been more reliant on visual content. Video has become essential, and brands can get creative by working with influencers to create visually engaging content that their followers love.
Why use Influencer Marketing?
The benefits of influencer marketing are many. Based on research and industry reports, brands that invest in influencer marketing campaigns experience a higher return on investment (ROI) than those that rely on other digital marketing strategies.
Moreover, the rise of social media platforms and their increasing importance in the lives of people have made influencer marketing a more lucrative option for brands than ever before. Given the fact that people are spending more time on social media than ever before, it makes sense for brands to choose influencers as marketing partners.
After all, you can’t ignore the fact that people spend hours on social media every day, reading content and watching videos created by influencers. As a result, these posts and videos are potential opportunities for brands to reach out to their customers and deliver the desired sales pitch.
2023 Influencer Marketing Trends
As digital transformation continues to reshape the way companies interact with customers, influencer marketing will experience a few major shifts. Let’s take a look at these emerging trends in detail.
– Virtual Reality Advertising: Right now, VR is still in its infancy phase. But as the technology evolves and improves, VR could emerge as a strong contender in the world of advertising.
In fact, VR could be so strong that it might render traditional advertising methods obsolete. Experts believe that VR ads could be more effective than traditional advertisements as they let customers experience what it’s like to use the product.
– Augmented Reality Advertising: Another advertising trend that could emerge strongly in the coming years is augmented reality advertising. Although a lot of brands have started experimenting with AR ads, this method of advertising has not yet reached its full potential. With advancements in AR technology, the future of advertising could be dominated by brands that use AR ads.
– Robo-Advertising: Similarly, Robo-advertising is another digital trend that could emerge stronger during the next decade. Robo-advertising refers to automated advertising, which is done using software. This method of advertising has gained popularity in recent years and is expected to continue gaining traction in the future.
– Mergers and Acquisitions in Ad Marketing Space: Finally, you’ll also see mergers and acquisitions in the ad marketing space. Ever since the digital transformation began, there’s been a greater focus on collaboration, and this trend will continue in the future. As a result, several ad tech companies will be acquired by larger conglomerates as they look to expand their reach in the advertising industry.
Instagram Will Dominate Influencer Marketing
It’s no secret that Instagram has become the platform of choice for many influencers. This is largely due to the fact that brands can easily create native advertising campaigns on Instagram, which is simply not possible on other platforms.
In 2023, we may see that influencer marketing has shifted away from Facebook and towards Instagram. As the platform continues to grow, we may see that it overtakes Facebook as the dominant social network in terms of advertising potential.
However, it’s also likely that other platforms like YouTube, TikTok, and Twitter will continue to play an important role when it comes to influencer marketing. As the industry continues to grow and evolves, we may see these platforms become increasingly important for marketers.
Video Content Will Remain Essential
As we’ve seen, the importance of video content will likely remain essential in the years to come. This is because it’s what consumers want. Consumers are spending more and more time watching videos on platforms like YouTube and TikTok.
In 2023, we may see marketers focus on creating even better video content. This might mean creating longer-form content that’s highly engaging or focusing on creating truly remarkable social experiences via social video.
Artificial Intelligence in Influencer Marketing
In 2023, we may see the emergence of a new way for brands to work with influencers. One of the concerns around a partnership with micro-influencers is that the process is manual; brands have to manually search for and select influencers.
It’s clear that there is a need for automation in this process, and AI may be the solution. In 2023, we may see that brands have developed ways to use artificial intelligence to help them find the best micro-influencers for their campaigns.
This will help brands to scale their campaigns and work with more influencers. It may also lead to brands investing in developing their own AI tool.
In the years to come, we expect that influencer marketing will continue to grow and evolve. In 2023, we expect that brands will focus on partnering with micro-influencers, creating better social video content, and utilizing artificial intelligence to scale campaign investments and find the best influencers.
One thing is clear – social media is here to stay and will be the primary channel for brands to advertise their products and services. In order to stay ahead of the competition, brands need to become more strategic in their use of influencers to get their message across.