By Kayla Matthews (Guest Author)
The concept of influencer marketing is far from new. In fact, modern influencer marketing dates back to 1920 when Coco Chanel became one of the most transformative influencers on fashion. However, this branding strategy didn’t experience a rise in popularity until the late 1990s and early 2000s as bloggers and content creators grew in number.
Now,
brands are connecting with popular social media influencers on any and every
platform in a rather successful attempt to promote their services and products.
As more people flock to social media, especially in the wake of the COVID-19
pandemic, brands will likely invest even more in this marketing strategy. For
influencers, the future is bright, to say the least.
People Hate Ads
Advertisements
have been bombarding consumers for years. From commercials on TV to billboards
to ads on Facebook and Instagram, brands are vying for your attention.
Meanwhile, most consumers are actively blocking these ads or completely
ignoring them, even when the algorithm uses a person’s browsing history to
target them and pique their interest. These traditional ads simply don’t work
like they used to. Why you might ask? Consumers don’t trust brands that
self-promote and they’re tired of all the noise.
Enter the Influencer
Then,
influencers entered the scene. Popular people — like Kim Kardashian and Donald
Millner—
with huge social media followings began to partner with both small and large
brands to promote their products. This marketing strategy proved quite
effective since followers viewed their recommendation as authentic and
trustworthy. On Twitter, nearly 40% of
users
report purchasing a product because of an influencer and 60% of YouTube subscribers
would follow the advice of their favorite creator. Evidently, influencer
marketing is working.
Even
those without huge followings, like TikToker Lauren Godwin and beauty
Instagrammer Daniel Jewels, boast an impressive engagement rate and frequently
partner with brands. While some most enter these partnerships as a way to make
money, many are choosy about which products they endorse. After all, they want
the brands they tout to be trustworthy and legitimate so as not to tarnish
their reputation and lose followers.
COVID-19 and Online Engagement
The
coronavirus has changed influencer marketing in huge ways. When the pandemic
first hit America, ad budgets decreased and, with them, the financial
compensation to many influencers. However, since then, budgets have increased
and some are making even more off promotional posts than ever before. This
increase is largely due to the rise in social media consumption during
shelter-in-place orders and quarantine.
Since
the pandemic, web browsing has risen by 70% and social media
engagement has increased by 61%. Of course, this level of online interaction
has lent itself well to influencer marketing. Content creators have more time
to increase their output, connect with followers and experiment with new
platforms while followers now have the opportunity to engage more than ever.
Consequently, many ad agencies and brands are investing more in this effective
marketing strategy.
The Future of Influencer Marketing and How to Get
Involved
As
the pandemic drags on and social media continues to surge in popularity, it’s
likely brands will invest even more in influencer marketing. Thus, since celebrities
and macro-influencers can only rep a few brands without losing engagement,
companies will likely begin partnering with more micro-influencers and those
with only a few hundred followers.
If you’re one of these creators who has a smaller, dedicated following, it may be time to seek out a partnership with one or two of your favorite brands. Odds are your audience will love them, too and you might be able to make a commission from affiliate links and posts. Begin by creating genuine relationships with your followers. Then, reach out to brands and explore new platforms, sharing your for different products and services wherever you go.
About the Author: Kayla Matthews writes about communication and workplace productivity on her blog, Productivity Theory. Her work has also appeared on Talent Culture, MakeUseOf, The Muse and Fast Company.
Photo by Laura Chouette on Unsplash