Influencer marketing in 2023
An overview of the most important trends
Why you should continue to use influencer marketing in 2023
Influencer marketing has undeniably been a prominent strategy for several years now. Nevertheless, even in 2023, this subtle advertising approach remains in vogue. To keep you updated, we’ve compiled the latest trends surrounding digital influencers and the essential developments you mustn’t overlook.
Why influencer marketing works
If your best friend raves about a particular fabric softener brand, it’s highly likely that you’ll find yourself picking up the same product during your next visit to the store. Why is that? Personal recommendations hold immense sway in our human decision-making process. Influencers, acting as trusted friends, play this role daily, engaging with us on the very social platforms we keep frequenting. Notably, in countries like Germany, Austria, and Switzerland, over a third of the population uses Instagram. A potential reach that’s quite impressive.
Various studies, including those conducted by PricewaterhouseCoopers, reveal compelling insights about the impact of influencer marketing:
- Approximately 90 % of individuals trust recommendations in general.
- More than one in four respondents express trust in influencer posts.
- A significant 71 % of consumers are more inclined to make purchases based on social media recommendations.
Our 2023 influencer marketing trend radar
In the digital realm and the ever-changing social media landscape, there’s only one thing that remains constant: change. Algorithms are adapted, and user behaviours shift, driving a steady evolution in influencer marketing. Join us as we explore the latest trends making waves in the industry!
1. Influencers = content creators
Influencers are now identifying themselves as content creators rather than solely as influencers. They are positioning themselves as experts in their respective fields, boosting authenticity within the community and moving away from classic advertising.
2. Nano- & micro-influencers
The signals from the communities are crystal clear: Authenticity prevails over celebrity status. Nano- and micro-influencers, despite having a smaller reach, impress audiences with their genuine approach. This allows them to cultivate dedicated and loyal followings. Brands are now acknowledging the significance of this connection and reaping the benefits of the heightened credibility. The engaged community actively participates and, in some cases, even creates user-generated content that complements brand content. This further boosts engagement and trust, positively impacting conversion rates.
3. Influencers as niche experts
Content creators are now fully aware of their external influence and are becoming more discerning about their collaborations. The reason behind this is their growing emphasis on specific topics, enabling them to establish themselves as experts in their chosen niche within the community. As a result, partnerships and collaborations must align seamlessly with the influencers’ chosen direction so as not to jeopardise their authenticity.
4. Performance-based deals
The compensation of influencers is now more closely tied to their performance. While this shift might not be immediately apparent to users, it holds significant implications for the collaboration dynamics between brands and influencers, particularly in terms of engagement and motivation.
5. Cross-channel campaigns
In today’s social media landscape, being active on just one platform is no longer enough. To reach followers across various platforms, content creators often decide to establish a presence on multiple channels. This multi-platform approach improves visibility and strengthens the bond between influencers and their communities.
6. Influencer-generated content
Influencers are increasingly being sought after as content creators, entrusted with creating materials that companies can incorporate into their marketing communications. These collaborations often result in high-quality content that resonates with the audience far better than traditional corporate advertising.
7. Video first
TikTok videos and Instagram Reels serve as compelling evidence: Video content is still gaining importance! Dynamic, short clips have become integral elements in collaborations. Their defining traits are their vibrant, interactive nature, perfectly tailored to the interests of the community.
Challenges and changes in influencer marketing: growing pains
Where there is considerable potential, there are usually also a few stumbling blocks. Our comprehensive overview will help you identify challenges and pitfalls, allowing you to respond appropriately. This way, you can ensure that your influencer marketing strategy remains successful in 2023:
- New platforms: TikTok and BeReal have reshuffled the cards and changed the rules of the game. These platforms have emerged as major players in the industry, providing fresh avenues for content creation. As a brand or content creator, staying adaptable is key. Your target audience is likely exploring these new social media channels, so you need to adjust your strategy accordingly. Embrace the opportunity to tap into the full potential of these evolving platforms!
- Changes to existing platforms: Classic platforms such as Facebook and Instagram are in a constant state of evolution. They regularly introduce new features and tweak their algorithms. What was effective yesterday may be obsolete today. The antidote? Continuous analysis and strategic adaptation.
- From likes to advertising value: Measuring success in influencer marketing is becoming increasingly comprehensive. Advertising costs for campaigns are being compared to those of other alternative advertising means aiming to reach the same number of people.
- AI-assisted selection of influencers: Creators are now a dime a dozen – with over 300 million worldwide. The ultimate challenge lies in carefully selecting an individual from this vast pool who exudes authenticity and aligns perfectly with your brand. Thanks to AI-supported tools, this process has become more manageable. These tools aid in discovering, categorising, and sorting creators based on the aesthetics and style of their content.
- Short-lived influencer campaigns: Story formats are gaining significant popularity as the preferred format for collaborations. For brands, they offer several enticing advantages and opportunities. The only catch: the short-lived nature of the format, which requires continuous updating and refreshing of content.
- More budget for influencer marketing: As influencer marketing continues to gain importance, the budget allocated by brands for this strategy is also on the rise. To maximise the return on investment (ROI) of their influencer marketing campaigns, effective approaches are crucial.
Influencer marketing – done right!
Ready to breathe new life into your influencer marketing efforts? punkt & komma will help you achieve your conversion goals and captivate your target audience. Time to make a strong impact on social media platforms – we’ve got your back!