5 Influencer marketing Trends that will Continue in 2023
Just like any other marketing apparatus, the influencer marketing space is an evolving one. This year itself we saw a lot of changes in the milieu of internet marketing. For instance, short-form video content like Instagram and Facebook Stories that disappear after 24 hours dominated the video marketing trend. In addition to that, a lot of influencers and marketers relied on reels to market their products or increase their follower count.
As per a report, globally, Instagram reels account for an average view time of 53 minutes per session. Reels and stories are 2X more likely to generate a higher engagement rate. Therefore it is hardly surprising that it is being used as a potent marketing tool.
Given this trend, video-based content marketing on various platforms shows no signs of slowing down. Having said that, there were also new trends that started in 2022 but will grow in full vigour in 2023.
These are the top trends!
# 1 Live stream shopping will Sky-rocket
Live shopping is nothing new. We have all grown up watching home shopping programs on popular cable networks, where everything from bathroom cleaning products to kitchen utensils to slimming products are sold.
However, live streaming on the internet, usually via social media platforms is a relatively new phenomenon and picked up pace during the pandemic. The trend first started in China in 2016 and with its success, it was replicated in other parts of the world as well.
Today fashion and lifestyle brands collaborate with social media influencers to sell products through Live sessions. Influencers usually go online and interact with the Live audience while selling the product. It is a highly interactive and engaging module.
With 83% of customers discovering new products and services on Instagram, lately, the popular social media channel launched an Instagram Live shopping feature that enables influencers and business owners to directly sell their products on the platform.
This new addition allows business owners to tag products in feeds, reels and stories. Assisted by an enhanced form of visual storytelling, businesses can now directly engage with their customers and followers and sell their products in real-time.
This will be a game changer in Live streaming on shopping and this trend will further grow in 2023.
# 2 Brands and creators will co-launch products
There are many influencers out there who are also successful business owners. Take the example of Juhi Godambe. A popular Instagram influencer, Godambe also runs a flourishing fashion label- Arabella targeted at young GenZ girls.
Popular food blogger Madhura Bachal also owns a spice brand which is very popular across Maharashtra. Similarly, many fashion influencers have also launched their own beauty products. Aanam Chasmawala is an influencer and owner of a popular makeup brand, Wearified is one such example.
Influencers owning businesses can be seen across the spectrum and in the future brands may collaborate with them for new product lines.
This will prove to be a viable business model and brands can leverage the popularity of the influencers to drive engagement and boost sales.
#3 Video Content will rule all the way
As per bloggingwizard, video upload has increased by 263.4% in just the last 5 years and 74% of marketers admit that videos have higher ROI if compared to static images.
This growing preference for video-based marketing will drive advertisers and marketers to collaborate with social media influencers to create informative content about their products.
Influencers are visual storytellers and have the knack to create stunning content for marketing campaigns.
# 4 Greater collaboration opportunities for Nano & Micro-influencers
In the past few years, instead of spending big bucks on recruiting a big influencer or a celebrity for marketing, brands are choosing to work with Nano and Micro-influencers who have a follower count between 1K and 50K. Statistically, Nano influencers have a 5% engagement rate, beating many Mega influencers with over 1 million followers.
This trend will further grow in 2023. Working with smaller influencers has made influencer marketing affordable for small and medium-sized brands. It is a great strategy for product and brand visibility. In some cases, brands have also seen a boost in sales.
By working with smaller but impactful influencers, brands can get impressive business traction at a competitive pricing model.
#5 Improvement in technology for Influencer marketing management
Once brands have tasted the success of influencer marketing, they keep engaging with the same pool of influencers. Often marketers also work with multiple influencers at a time. Therefore there is a growing need for intuitive dashboards that showcases revenue, ROI and engagement rate.
As the influencer marketing industry grows, so will the technology and software that supports it.
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