In just a few years, the influencer marketing industry has risen to top-tier status among communications tools and strategies, and brands are now spending more on influencers to generate solid leads and more sales for their business. During the COVID-19 pandemic, influencers have opened a new window for many brands, enterprises, startups, and even small businesses to produce cost-effective content and communicate with their target audiences.
New research from agency research firm GoodFirms, 6 Influencer Marketing Trends to Keep Tabs On in 2021, highlights the top insights for brands to consider to pick the best influencers.
Influencers are characterized by their loyal and dedicated social media followers to whom they are able to promote products and services. In response to the demand for influencer marketing without the towering price tags attached to celebrities and other high-profile influencers, there has been a rapidly-growing network of mid-level and micro-influencers.
“As the number of influencers increases in the market, there is also the drawback of social media platforms getting overcrowded with them. In such a scenario, influencers may not be able to deliver what they promised initially,” the report asserts. “Brands also have to survive in the competition, so they will not believe the claims of influencers if they don’t translate into numbers. Due to this, in 2021, there will be a rise in performance-based deals.”
When it comes to the main deciding factors brands need to select the right influencer, the research reveals the following:
“Nano and micro-influencers can actually prove to be committed brand advocates,” according to the report. “They are an ideal choice for small businesses that do not have a huge marketing budget but can definitely gain some benefit from a ‘word-of-mouth’ approach. As the competition increases and trends change, it becomes difficult for brands to alter their marketing strategies quickly. The end result is a decline in engagement rate.”
The trend of influencer marketing has been remarkable over the last few years, but business is different now as the post-COVID world takes shape—and brands need to keep up with the latest trends for success in 2021.
“Gone are the days when audiences on social media would be impressed with the lavish lifestyles of celebrities or influencers. In 2021, brands can expect an increase in preference for authentic and genuine content,” offers the report. “People will engage with an influencer only when they get to see their authentic and real-self.”
In addition to trends to watch, the research covers the challenges brands face with influencers, and which types of influencers get high ROI for a variety of particular niches.
This research surveyed 82 marketing professionals about the trends they use to pick the right influencer for marketing their business and improving for customer acquisition.