The influence of social media on our lives has been tremendous, to say the least. One of the numerous ways in which social media has changed our lives is through influencer marketing. Almost half of the consumers turn to their favorite YouTube stars, Instagram personalities or Twitter users for guidance on their purchasing decisions, according to an article by the Influencer Orchestration Network.
This helped influencer marketing become a $6.5 billion industry in 2019, according to a survey by Influencer Marketing Hub. However, to be able to leverage this market for your business, it is important to stay updated with the latest trends. Here are some of the top influencer marketing trends to look out for in 2020.
1. Video Will Remain King
The rise of video is a trend that will continue in the new decade. Video, as a format, has the unique ability to tell stories in a digestible manner. It is also highly engaging for viewers of all ages. And, with mobile devices and highspeed internet becoming increasingly common, their popularity is set to increase even more. In fact, more than 80% of the internet traffic is expected to be driven by videos by 2022, according to a report by Cisco.
Brands can continue to take advantage of this growing popularity of video, especially by sponsoring influencer live feeds on different platforms, such as Facebook and Instagram, according to experts at SEMDestination. Such live streaming of content can include product unboxing, Q&A’s, or backstage footage.
2. Rise of Nano and Micro Influencers
When it comes to influencer marketing, bigger is not always better. An increasingly large number of brands are turning to nano and micro influencers. A micro influencer is someone who has between 1,000 and 10,000 followers, while a nano influencer is someone with an even smaller follower base, of less than 1,000.
Some of the advantages of such influencers are:
- They have a much closer relationship with their followers. They engage on a more frequent basis, often being involved in one-on-one engagement.
- They are much more trusted by people. They usually work in a niche field and are considered much more knowledgeable in that area than larger influencers. This makes them thought leaders for many.
- They are much more cost-effective, compared to larger influencers.
3. Welcome CGI Influencers
One of the biggest trends of 2020 is expected to be the introduction of influencers who aren’t even human! With the help of Computer Generated Imagery (CGI), many virtual influencers, such as Li’l Miquela, have been created. The virtual influencer has already found work with numerous high-profile brands, such as Prada and Diesel. Such CGI influencers fare particularly well with the younger audiences, who have a thirst for gamification and virtual reality.
4. Use of AI in Influencer Marketing
Artificial Intelligence is changing the face of many fields, and influencer marketing is no exception. AI is being used to identify the right influencers to partner with, in a faster and more efficient manner. AI helps in finding those with lesser fake followers, higher engagement rates and better chances of creating a positive ROI.
Apart from this, it is also expected for brands to align with influencers who have similar values and, therefore, can best reflect the brand.