Introduction
As technology and marketing progress, new concepts and trends emerge regularly.
To stay effective, it is crucial to adjust your advertising strategies and embrace popular trends as you become aware of them.
An increasing number of brands are doing influencer collaborations to obtain visual content for their social media platforms.
This trend gained significant traction last year and continues to expand further, which is not unexpected.
But why are brands doing it? Firstly, it enables them to obtain trendy and visually appealing content.
Secondly, influencer-generated content possesses a higher degree of authenticity and relatability compared to professionally produced content, resulting in improved engagement.
Lastly, it offers a cost-effective alternative to organizing in-house photoshoots. In this article, we will explore some influencer marketing trends to look out for.
Table of Contents
1. What is Influencer Marketing?
Influencer Marketing refers to the practice of brands strategically collaborating with influential individuals on social media platforms to promote their products or services.
In the aftermath of the COVID-19 pandemic, the field of Influencer Marketing has experienced significant growth, as numerous influencers have emerged and concentrated their efforts on specific niche markets.
Influencer collaborations have presented small businesses with valuable prospects to enhance their market reach, boost audience engagement, drive sales, and build consumer trust.
Influencer Marketing Trends
2. Cross-Channel Influencer Collaborations are on the Rise
Cross-channel influencer marketing refers to strategic influencer collaborations between influencers and brands across multiple marketing channels or platforms.
The influencer creates content promoting the brand's collection, which is shared across their multiple channels.
It involves leveraging the influence and reach of influencers across various mediums to amplify brand messaging and engage with a wider audience.
Such advertising strategies expand brand exposure and engagement by targeting different audience segments on various platforms.
3. Influencer Podcasts
From Amazon to Spotify, top influencers are taking over podcasting with captivating shows that cover everything from pop culture to politics.
It’s gradually becoming one of the most popular advertising strategies for influencer collaborations.
Moreover, influencers are using this growing medium to build a loyal fan base and connect with their audiences in innovative ways.
For example, BMW collaborated with comedian and podcaster Adam Carolla for the podcast "CarCast."
The podcast focused on automotive discussions, featuring interviews with industry experts and car enthusiasts.
The collaboration allowed BMW to tap into Carolla's automotive knowledge and engage with a dedicated audience interested in cars.
4. Product Co-Creation
Brands are increasingly engaging in the co-creation of products and collections with influencers, as exemplified by iconic collaborations like Air Jordan by Nike.
Jennifer Aniston, a renowned actress and newly named chief creative officer of Vital Proteins, is shown directing and starring in a commercial for the brand.
Cosmetics brand ColourPop, collaborated with beauty YouTuber KathleenLights to release a range of lip products, eyeshadow palettes, and highlighters under the "ColourPop x KathleenLights" collection.
These examples demonstrate how brands have identified and used influencer marketing trends to introduce products that leverage their name and influence, creating unique and highly anticipated influencer collaborations.
These partnerships are highly advantageous as they effectively communicate to the influencer's audience the genuine connection between the brand and the product.
Consequently, this has led to a significant boost in sales for numerous brands as the influencer's audience converts into customers.
These influencer collaborations create a mutually beneficial scenario, resulting in a win-win situation.
Although it is the key to futuristic advertising strategies in marketing, the difficulty is that a co-created product is always tied to the influencer in question.
For this reason, it is crucial that, before the launch, both the influencer and brand are completely convinced about each other and the created product.
For instance, Kanye West had established a significant partnership with Adidas, which resulted in a successful collaboration until the company decided to discontinue its association with West due to remarks made by the rapper that were considered anti-Semitic.
5. Live Shopping
Social shopping continues to grow, and live shopping is gaining traction. According to McKinsey, the live shopping market grew by more than 280% to more than $171 billion during the period 2017-2020.
Influencers possess the ideal position to actively participate in live shopping initiatives.
By incorporating the additional element of live shopping, influencer collaborations can further expedite the sales process and enhance customer engagement.
Lululemon, a well-known athletic apparel brand, has engaged influencers for live shopping sessions on Instagram.
They have partnered with fitness influencers to lead workout sessions, introduce new product launches, and offer exclusive promotions.
Levi's, the popular denim brand, has partnered with influencers for live shopping experiences on Instagram.
They have organized live sessions where influencers try on and style different Levi's products, providing real-time product information and enabling viewers to make purchases directly through Instagram.
Similarly, Sephora, a renowned beauty retailer, has collaborated with influencers for live shopping events on Instagram.
They have hosted live sessions where influencers showcase and demonstrate products, provide tutorials, and offer exclusive discounts, allowing viewers to shop directly from the live stream.
This professional alignment between influencers and live shopping can yield significant benefits in terms of boosting sales and optimizing overall advertising strategies.
6. Unique Codes and Links
Discounts can convince an unsure shopper to make a purchase. The use of coupon codes, affiliate links, and revenue-sharing compensation is on the rise.
Many influencers use “refer my code or link” in their campaigns so that brands can use this to track conversions on the backend and incentivize sales.
If it does not lead to sales, it can achieve branding. This gives influencer collaborations the ability to track and contribute to sales.
Daniel Wellington, a watch brand, has collaborated with numerous influencers to provide discount codes.
Influencers often share their personalized codes, allowing their followers to enjoy exclusive savings when purchasing Daniel Wellington watches and accessories.
Conclusion
Influencer collaborations are introducing innovative and captivating approaches for brands to establish connections with their target audiences.
In order to elevate their advertising strategies and effectively plan holistic campaigns, it is crucial for marketers to embrace this evolving landscape.
By recognizing the significance of influencer collaborations and incorporating them into their overall campaign planning, brands can enhance their marketing efforts and achieve greater success in engaging with their audience. Influencer marketing can go wrong if not executed properly. Challenges include a lack of authenticity, misalignment of values, lack of disclosure, poor fit or relevance, fake followers and engagement, and a lack of return on investment.
To mitigate these risks, brands should carefully select influencers aligned with their values, ensure transparency, and track campaign performance for effectiveness.
Communication and understanding of the influencer's audience are crucial for successful influencer marketing. Influencer collaborations play a dynamic role in shaping the social media landscape.
They not only shape the content we consume and find appealing but also hold a significant position in the eyes of brands, which increasingly acknowledge influencers as proficient content creators with valuable audience reach.