- 1. Definition
- 2. Overview and development
- 3. Advantages
- 4. Disadvantages
- 5. The relevance of influencer marketing trends
- 6. Best practices
Table of contents
Influencer marketing trends are developments in influence marketing that are either widespread or quickly becoming widespread. Ideally, businesses want to get in on effective trends early on before they are used by everyone. This involves thinking about what the most likely future trends are and what developing trends will be most effective. Consulting with an influencer management agency or using an influencer marketing platform can shed light on trends in influence marketing. Businesses don't have to follow every influencer marketing trend, but they should implement a few into their strategy to maintain success and avoid being left behind.
Overview and development
According to Sprout Social, 2017 was “the year of influencer marketing”, and it's going to continue strong well into the future. We don't think influence marketing will ever die out; it will just go through changes as new influencer marketing trends develop. Influencer marketing trends to watch for include budding success on other social media networks besides Instagram, new tools that assist with influence marketing, and developing long-term relationships with influencers.
Instagram will likely remain top dog for several years, but that doesn't mean businesses should ignore other social media sites. YouTube has an uptrend in influence marketing. Businesses can also generate good ROIs from Pinterest, Facebook, and Snapchat influence marketing.
In the past, businesses typically didn't seek long-term relationships with influencers. They had transactional relationships. That's beginning to change as brands are starting to work on developing long-term relationships with their influencers. This is a better approach to take so that one doesn't have to constantly search for influencers. Moreover, influencers like being treated as a partner that the brand cares about rather than simply a means of increasing revenue. When an influencer genuinely likes the brand they are promoting, the results are naturally better.
Businesses should also prepare for stricter regulations surrounding influence marketing. The FTC requiring influencers to disclose when they're being compensated for a post is likely just the beginning of regulations for this type of marketing. Businesses must stay alert for any additional regulations to stay in compliance.
- Using What Works: Businesses that implement influencer marketing trends use what works now rather than outdated techniques. Failing to stay aware of the trends can lead to wasting money on tactics that don't work as well anymore.
- Understanding the Competition Better: Another benefit of keeping up with trends is businesses will have a better idea of what their competition is doing. Businesses don't need to follow every single trend, but they should still identify them to have a greater understanding of their competitors who are taking advantage of those trends.
- Confusion: A downside that some marketers face when keeping up with influencer marketing trends is confusion or indecision on which ones to follow. They may have pressure on them to pinpoint those that will continue being successful. Businesses also have to endure a learning curve when incorporating a new trend into their influencer marketing strategy.
The relevance of influencer marketing trends
Businesses should keep up with influence marketing trends because it can give them an advantage over competitors and prevent their business from failing. Some businesses failed because they didn't adapt to the changing environment quickly enough. One must not be content with staying the same in business or else they will be left behind. DVD rental stores that ignored changing consumer trends went out of business. One must stay sharp and take clues from trends in influencer marketing to get the most benefits out of it and improve the chances their business will last long.
- Compare Stats Over the Years: Several companies collect statistics on influence marketing to help marketers get an idea of what's working, what isn't working, and other interesting insights. Brands can easily find this information through online searches. By comparing how the stats change over the years, a marketer can make good choices on which trends to follow.
- Ask “Where Next”: Business owners and marketers that are good at staying ahead of the curve are in the habit of asking “where next?” whenever they learn about trends. Think about what the next popular trend will be based on the information gathered.
- Analyze Psychographics: Psychographics give good hints as to where trends will go as well. The best business owners and marketers stay aware of psychographics to know how to connect with their customers.
- Follow Top Influencers: Another way of identifying trends is to follow the top influencers in one's industry. Influencers typically play a role in setting new trends or jump on them early on. Businesses can use a platform such as InfluencerDB to save time on finding the best influencers and building solid relationships with them.
- Survey Customers: One should regularly survey their customers to find out what they most want from the business. Surveys could even be related to trends one has picked up on to discover if the brand's customers like the trend.