How the last two years has fast-tracked Influencer Marketing

How the last two years has fast-tracked Influencer Marketing

The influencer marketing industry was unsure of the impact the pandemic would have on artists and brands when it hit. It needn’t have worried.

For businesses to succeed in these abnormal times, they must make genuine relationships … virtually. Authenticity and customisation are key in consumer communications. Influencers with huge social networks are ideal.

Brands will spend $15 billion on influencer marketing in 2022, just a few short years after the birth of the segment. Hastened by the pandemic, 56% of organisations now collaborate with reliable and strong creators, according to Influencer Marketing Hub

How has the pandemic affected influencer marketing strategies?

Partnership investment fell substantially early in the pandemic, with some sectors’ worst hit. Partnerships slowly resumed, albeit at varied rates based on industry and geography. 

Many firms had to cease or significantly reduce marketing efforts in 2020. With establishments shuttered and events postponed, marketers had to rethink outreach. Influencers and companies began communicating brand values rather than goods.

Influencers are now more valuable to marketers than ever before. Collaborations are becoming more strategic rather than transactional as a result of the growing importance of the creative community in marketing.

How have businesses used influencer marketing through the pandemic?

Brands needed to use digital media efficiently to affect consumers, so they recruited creators specialising in a relevant niche, such as cooking. Influencers have begun establishing themselves on new platforms like TikTok, where they are steadily gaining ground.

Manufacturers may become virtual showrooms for merchants as online commerce grows. This tendency will be accelerated by increased awareness of the value of genuine product recommendations in generating trust.

Thanks to the short video formats on TikTok, Facebook and YouTube becoming the way ever more people opt to consume content, and a pandemic which made social media even more ubiquitous, the influencer marketing sector is forecast to be worth $16.4 billion by the end of this year. Not bad for a $1.7 billion niche in 2016.

About Sam P

EnterpriseZone Staff Writer

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