1. Bigger Budgets
In 2017, several major companies completed “proof of concept” campaigns to test the effectiveness of influencer marketing. Now that they’ve seen just how effective it can be, those same companies are willing to increase their influence marketing budget and enter into long-term partnerships with influencers. Of course, with more money being spent on influencer marketing, a better payment system for influencers is needed. Unlike more traditional forms of marketing, it’s often the case that influencers have to chase down their paychecks.
2. B2B Marketing
While influencer marketing has been primarily used to market products directly to consumers, many experts believe that it’s becoming a useful tool for businesses that sell to other businesses. Many B2B companies have begun to dedicate their resources to identifying influencers who are relevant to and knowledgeable about their respective industries. Influencer marketing is a very effective way to overcome the skepticism that many B2B marketers have towards traditional marketing methods.
3. Influencer Networks
With the creation of influencer networks, it’s now easier than ever for companies to find an influencer that is the perfect match for their product. These networks act as a filter by pre-qualifying influencers for potential engagement and effectiveness. This process benefits both the client and the influencer by eliminating the guesswork of choosing the best talent for the right campaign.
4. New Platforms
As previously mentioned, you’ve probably seen and followed many influencers on Instagram. While the photo and video-sharing network is very popular among influencers, influencer marketing has begun to expand to other platforms. Fashion apps, such as Like To Know It, feature influencer posts and allow consumers to purchase clothing and beauty products directly through the app. Beauty apps like Screenshop are developing facial recognition technology so that consumers can virtually try out new cosmetics before buying. These apps also give influencers the opportunity to reach a more specific audience. They may more likely to make those product purchases.
5. Trying New ThingsOne trait that influencers share is an interest in trying new things, whether it’s a new product or a new experience. Many influencers have started to use their platforms to not just promote products. They also explore their love of acting and singing. This willingness to try new things has led influencers to venture outside of the online marketplace and into billboards and television commercials.
As you can see, there are several ways that influencer marketing is changing. Clients and influencers alike are embracing these changes as they are sure to benefit both sides by making influencer marketing more effective and more profitable.