A global rise in digital consumption continues to propel influencer marketing campaigns. The industry is forecasted to hit $15 billion USD by 2022.
The market has grown incredibly since 2016 when trends began showing consumers moving away from TV and toward social media.
Video Continues to Reign Supreme
From TikToks and Instagram Reels to live streams and virtual events, video brings in 49% more engagement than standard image posts. Marketers see Instagram Stories as the most effective social video used by creators, followed by YouTube and Instagram video. As brands and advertisers seek creative ways to connect with audiences, video will continue to grow.
Audio Emerging as a Strong Contender
45% of Gen-Z and Millennials in South East Asia consider audio a powerful medium for storytelling. Audio is emerging as a viable channel for influencers to engage with niche audiences.
In 2020, Spotify signed over 20 exclusive podcast deals with creators like Addison Rae, Michelle Obama and Joe Rogan.
Value-Driven Content Essential
64% of audiences claimed to have selected, switched and boycotted a brand based on its stance on social and environmental issues alone. Transparency, consistency, and commitment are necessary to ensure value-driven content is not performative. 71% of influencers see authenticity as necessary to keep audiences engaged.
Charmed by Unlikely Influencers
From Maru the Shiba and viral J-Dog, to cool girl Ava Gram, these pet, elderly, and virtual influencers are providing new ways to reach audiences. TikToker Dylan Lemay, has amassed over 7.1M followers while documenting his shifts at the popular US-based ice cream chain, Cold Stone Creamery.
Influencer fraud was a top concern for 34% of marketers in 2020. Creator and vendor selection was also flagged as major sources of contention. Due to this, the use of in-depth data and insights to benchmark, plan, and monitor influencer content is imperative.
Create incremental impact by repurposing organic influencer content across paid and owned media channels. Whether it be a banner or Facebook ad, brands who recognize this opportunity can harness the authentic relatability of user-generated content to extend reach across masses of relevant audiences.
Commerce Going Social
87% of online shoppers look to social media to inform purchase decisions. 40% have bought a product recommended by an influencer. Instagram, Facebook, and TikTok are accelerating integration of social commerce features on their platforms.
With 30% of users open to direct purchases on social media, creators, who audiences have existing affinities for, stand as an obvious go-to for brands to hone into these new capabilities and create conversions.