Emerging Trends in Influencer Marketing
As bold new patterns emerge among creators, savvy brands are adjusting their strategy.
In the past, Influencer Marketing fueled a gold rush for brands seeking to establish authentic connections with their target consumers, and it's expected to burgeon into a $24 billion industry by the end of this year. Partnering with creators has proven wildly successful, so much so that it's now recognized as its own channel, and has even spawned User Generated Content (UGC) as a valuable advertising medium. "Content creator" is now a bona fide job description. As this channel matures, new trends are emerging that will shape how brands utilize it in the future.
Influencers Laser-Focus Their Niche
Defining a niche has been crucial for content creators to grow their following. The most successful creators focus on specific topics or communities, and this year, expect to see them narrow their focus even further. With content creation becoming increasingly saturated, creators aim to deepen their connection with their audience by emphasizing their most engaging content.
For instance, a fitness creator might start concentrating on tailored routines for specific age groups, while an eco-friendly lifestyle creator might specialize in green cleaning.
Kat Shee, VP of GROW, discusses her journey to success in content creation, attributing it to precisely defining her niche. This not only helped her distinguish herself from other creators but also enabled her to be more authentic, resonating more deeply with her followers.
Brands have already recognized this shift and understand how targeting such specific audiences can effectively deliver content to the right people. By narrowing their focus and emphasizing uniqueness, creators boost engagement and become more appealing (and lucrative) to advertisers.
However, one risk creators must manage is potentially alienating their current audience, who may be interested in different topics. For example, if a travel creator decides to focus solely on cruises, they might lose followers who prefer land-based travel. By conducting a thorough assessment of their most popular content, creators can make informed decisions about where to direct their focus without jeopardizing their audience base.
The Rise of the Micro-Influencer
A micro-influencer is a creator with an audience of 10k-100k. Brands are increasingly seeking partnerships with micro-influencers. When deciding where to allocate their growing influencer budget, brands are drawn to the more engaged audiences of smaller influencers.
According to GRIN.co, brands with high conversion goals and lower budgets often achieve better results with smaller influencers. Brands in eCommerce and Direct-to-Consumer sectors are already experiencing success using micro-influencers. For instance, Nutpods, a dairy-free coffee creamer company, drives more sales through discount codes and giveaways, leveraging micro-influencers to reach their audience.
Research indicates that 60% of consumers are more likely to engage with content from creators who actively interact with their followers. Smaller influencers have the time and capacity to engage with their audience, which significantly boosts engagement, deepening their trust and influence over their following. Moreover, these creators often charge less, manage their own representation, and sometimes accept products as payment. The authenticity of their content makes it ideal for repurposing in other advertising campaigns as User Generated Content (UGC).
When seeking smaller influencers, brands should carefully assess the creator’s authenticity, relevance, and reach. One effective strategy is to explore among a brand’s own followers, especially if it has a substantial presence on the platform. Additionally, brands can engage in social listening to identify influential individuals who are already discussing the brand.
Micro-influencers are typically not represented by agents, and while they charge less, content creation may not be their full-time occupation. Consequently, brands should anticipate longer turnaround times and exercise caution when making payments to influencers without a proven track record of fulfilling executions.
Introduction of AI in Influencer Marketing
Artificial Intelligence (AI) has significantly disrupted nearly every marketing channel in the past year, and Influencer Marketing is no exception. Language learning models, image processors, and analysis tools have gained popularity, offering promises of simplifying workflows and enhancing effectiveness for both creators and brands.
Savvy influencers are increasingly exploring AI content creation tools to produce higher-quality content at a faster pace. AI technologies can now perform various tasks, including automatic video editing, generating voice-overs, crafting captions, and generating hashtags. Specialized AI tools are now integral to creators' content planning, publishing, and audience growth optimization strategies. For example, Terrell (@conyersterrell on Instagram), a popular micro-influencer, witnessed a 29k increase in her following after implementing an AI-powered growth tool called Path Social.
Marketers are leveraging AI to identify influencers and even draft campaign briefs. AI-powered tools can process and analyze campaign data faster than human analysts, facilitating easier and more cost-effective campaign optimization. New tools, such as Stat Social, are emerging to provide deeper insights into specific influencers.
With the advent of these new tools, the dynamics between brands and creators are evolving. Creators understand that their profiles and content are scrutinized by machines rather than humans, emphasizing the significance of metrics and numbers more than ever before. Brands need to acknowledge that AI equips content creators with powerful tools to deliver exceptional campaigns swiftly.
Discussions surrounding AI often entail cautious optimism, as many do not view it as a substitute for the human touch. In an industry where authenticity holds paramount importance, both brands and creators should remain mindful not to become too disconnected from their audiences.
Looking Ahead
With niches tightening, rising demand for micro-influencers, and increased AI influence, it is an exciting time to be a creator, agency, or brand involved in Influencer Marketing. Staying on top of these trends can be challenging in a rapidly evolving, relatively new channel. Those in the industry who rise to the top will be the ones embracing the change and preparing for what's next.
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ReferencesDash Hudson. (2023). The Power of Community: Social Media Trends Report . https://pages.dashhudson.com/hubfs/social-media-trends/2023/power-of-community.pdf
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Qudsi, I. E. (2024, February 5). Council Post: Influencer Marketing Trends To Watch In 2024. Forbes; Forbes Media, LLC. https://www.forbes.com/sites/forbesagencycouncil/2024/02/05/influencer-marketing-trends-to-watch-in-2024/?sh=3934ee1273e4Wiley, D. (2023, December 6). 6 Influencer Marketing Trends To Watch In 2024. Forbes; Forbes Media, LLC. https://www.forbes.com/sites/forbesagencycouncil/2023/12/06/6-influencer-marketing-trends-to-watch-in-2024/?sh=72f4b44a4f1c
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YEC. (2023, February 22). Council Post: Influencers And Content Creators: Find Your Niche To Find Your Success. Forbes. https://www.forbes.com/sites/theyec/2023/02/22/influencers-and-content-creators-find-your-niche-to-find-your-success/?sh=34275a901831
