Influencer marketing has become an integral part of digital marketing, enabling brands to engage audiences and promote authenticity and trust. According to The State of Influencer Marketing 2022: Benchmark Report, the industry is expected to reach approximately $16.4 billion this year; This growth has been fueled by the continued growth of TikTok, the potential of social commerce, and increasingly data-intensive media.
So what will 2023 bring? We asked several experts to take a look at what the next year might look like for influencer marketing. Discussion topics include cost of living issues, potential values, lifestyle marketing and more…
Affective spending will be high despite the cost of living crisis…
Pierre-Loïc Assayag, President and Founder, Trackr:
“Although the overall market budget may decrease in 2023 with the coming recession, brands will increase their sales volume. What we’ve already experienced during the pandemic – when resources are scarce but the ROI of influencer marketing is higher than that of traditional digital media – the recession will be even harder.
Brands have the evidence they need to shift budgets to influencer marketing as an effective way to gain opportunities to communicate with consumers.
Benji Lamb, Head of China and South Asia, Vitabiotics:
“Influencers will need great deals and offers for their followers, to add value and to keep their product environment fresh and relevant. For example, if people eat less at restaurants and spend more time at home to save money.
“Most consumers will be more price-conscious and will shop around, especially for fast-moving consumer goods. But also, quality is always important, so the midrange models are well positioned to meet these needs “IMO”.
Read: The Basics of Influencer in Marketing
Alexander Frolov, Ceo and Founder, Hypeauditor:
“The cost of living is still a concern for both sellers and consumers. Consumers have become more selective about the brands they buy and are on the lookout for deals and discounts more than ever. In these tough times, some consumers may also be switching to expensive brands in favor of cheaper brands.
“Marketers are also reviewing their budgets in the face of the global economic downturn, but influencer marketing remains a priority for many because it is the cheapest form of branded content. “Influencer marketing can also be an effective way to attract and connect with the right audience, especially in today’s economic environment.
For example, with HypeAuditor, we have seen an increase of the number of brands and social influence around financial programs. , and other content creators who share discount codes among their followers. In fact, UK influencers used #discountcode 317 times in November 2021, while last month it was used 405 times, a 27% year-on-year increase.
“Marketers must prioritize their relationships with niches and micro-influencers to ensure they remain relevant and authentic to their target audience. Unlike mega influencers or celebrities, content creators are closer to economic reality and understand the complexity of the problems their audience may be facing 카지노사이트.
…But the mind is still important
Sarah Penny, head of content and research, one impression:
“Brands will have to listen to the voices to make changes in difficult times for consumers. With most of the country struggling financially, the key for brands is not to emerge from the situation around us. In the time of Covid, we’re talking to a lot of brands who are really wondering if they should go public with their marketing in these uncertain times, and this is going to be something that brands are asking. themselves to decide whether they should focus on marketing messages, or “soft” campaigns around awareness and even purpose.
“Easily for the model to fit the problem story, as we see in the current social situation, will vary. For example, FMCG brands or retailers can build stories about saving money and staying on budget, as we’ve seen supermarkets create content on how to shop weekly for less than £50 .
When the amount of money that is thrown away is small, the type of luxury and those who are not important will have a greater challenge in telling those who are important, so it is important to know and explain it. For example, knowing that it is a luxury and supporting expenses, such as the quality of the product, can result in a good price per garment.
Legislation Can Be Adopted and the Demand for Legitimacy May Rise
“2022 has been an interesting year in terms of expectations and standards for the influencer media industry – a sign that the sector is growing. When it comes to image editing, influencers and marketers know that relationships and truth cannot be broken. According to recent data from a survey conducted by HypeAuditor earlier this year, almost 60% of activists support government legislation in this area, only 17% are against any intervention . Two-thirds (66%) think laws are the best way to protect young people’s mental health online. “From a retailer’s point of view, 73% of retailers agree with the government’s efforts to fix the industry. Interestingly, more than half said it was the government that -control, and 33% who think it is the work of the social platform.
“It shows that the industry as a whole accepts standards like the Digitally Altered Body Image Bill, introduced this year in the UK, which calls on activists to reveal altered images. Elsewhere should be the priority right now is to crack down on hidden ads.
Read: Steps and Advice for Becoming a Health Influencer
When HypeAuditor asked about the opinion on the ‘name and shame’ strategy of the UK Advertising Standards Authority, the data showed that less than half (41%) of those who act agree with this strategy, while only 39% of those who Marketing said it has an impact on how they do it. work with them. those who do things.
“Intelligence in this area is important and helps maintain a sense of authenticity in the relationship between content creators and their audience. Stakeholders and marketers should pay close attention to this issue, and …