Influencer Marketing is a tool essentially used to promote a person or a company via an influential personality. Influencer marketing is a child of the ‘multi-step model’. Back then it was the opinion leaders that did most of the promoting and the marketing for the brand. Word of mouth is where influencer marketing actually took birth, back then it was opinion leaders that helped tweak the decisions of the people towards a certain brand and now it is influencers (essentially people with a high number of followers on social media platforms) doing the same on a digitally based social platform.
Influencer marketing, to be precise is a form of advertising and marketing of the product which is not promoted directly. For example, an influencer might post an image of them eating at a certain restaurant to promote the restaurant.
Here are some aspects of influencer marketing that are going to flourish in 2017:
Since the time of its existence, influencer marketing has been on the rise, be it among the people and the customers, among the businesses and brand or the influencer marketers themselves. Google trends have also seen a constant rise in the graph of ‘influencer marketing’. Google trends is a portal from Google that helps you search the top charts and most searched keywords on Google. Google has also classified the keyword as a “Breakout,” meaning that the keyword is experiencing growth greater than 5000 percent.
Hike in price
With the growth of influencer marketing as a whole there is a rise in the number of influencer marketers in the field. With a rise in this number there is obviously a hierarchy within them, there are a few market leaders and some that come along the line in the hierarchy. This means that there is definitely a change in the cost of the influencer marketers. Brands are spending more on influencer marketing. Nearly 50% plan on increasing their influencer marketing budgets in 2017 compared to only 4% who plan to decrease it. This also means there could be a rise in the number of influencers in 2017 as well. In 2016, most marketers spent $25,000 - $50,000 per influencer marketing program, which they reported will double to $50,000 -$100,000 per program in 2017.
Creative freedom to influencers
Influencer marketing is effective because of the original, authentic stories that influencers tell about a brand’s product or service. Stringent content approval requirements have the potential to lessen the effectiveness of these stories as it strips the content of the authenticity and voice that made the influencer popular in the first place. Brands have finally come to make amends with the fact that influencer marketers have their own way of promoting their posts and that they have their own style, this gives the influencers a lot more creative freedom. In 2017, brands will experience a shift in trust, loosening the reigns for approval and increasing confidence in the influencers to highlight the product or service in their own ways while still fulfilling brand guidelines.
Quality over quantity
With the rise of young personnel in companies and a lot of new budding startups, companies have realized that it is the quality that works over the quantity. Digital marketing influencers are also getting expensive with a higher demand for them. Brands that have a constricted budget will look for smaller packages from these influencers. This will invariably result in the posts being limited and of high quality which will give the quality a higher value above quantity.
More videos from Influencers
With the rise in the use and promotion of videos all over the various social media platforms, a lot of influencers will be using videos to promote the brand and their identity. All the social media platforms are generating new updates in the video aspect and this makes it a key component for marketing. GIFs are also another budding aspect, a significant number of brands are using GIFs and the number is expected to rise in the coming year.
All in all like the previous years, ‘influencer marketing’ is going to grow with time and there could well be a lot of new trends and styles in 2017 top watch out for.