There is no denying that it has been an unprecedented two years for the entire world. The COVID-19 pandemic has wreaked havoc on numerous businesses worldwide. However, as the famous adage by renowned physicist Albert Einstein goes, “In the midst of every crisis lies great opportunity.”
With traditional marketing channels not as viable an option, many companies have looked to new marketing opportunities, such as influencer marketing, to get their message out to consumers. The statistics have demonstrated this growth, with the value of this industry doubling from SGD8.7 billion in 2019 to SGD17.5 billion in 2021.
It is an impressive figure, and it highlights how influencer marketing strategy is one of the most effective methods to reach and engage a wider audience. And we do not see this changing anything soon as we approach 2022.
However, with more companies looking to adopt this strategy, you will need to capitalise on new trends to stay ahead of your competitors. So as a new year approaches, let us share the four influencer marketing trends you should keep your eyes on in 2022.
Influencer marketing trends to keep your eyes on in 2022 #1: Social commerce will open up more sponsorship opportunities
Many businesses, especially traditional brick-and-mortar stores, experienced a challenging time connecting with their target audience within these past two years due to the government’s restrictive but necessary guidelines to curb the spread of the virus.
With social media networks, such as Instagram and Facebook, offering shoppable videos and posts to create a seamless buyer experience, more businesses are looking to take advantage by making the switch to e-commerce.
However, these brands still need to establish a solid social media presence to entice consumers to their social media pages. One way these businesses can attract an audience is by engaging the right influencer to produce enticing shoppable content that will attract consumers to click on them. As such, we foresee more sponsorship opportunities for influencers as more brands look to integrate shoppable content in their digital marketing strategies.
Influencer marketing trends to keep your eyes on in 2022 #2: Data-driven influencer marketing
The more popular influencer marketing becomes, the more brands will want to invest in it. Studies have shown that 4 out of 10 brands are investing between 10% to 20% of their marketing budget in influencer marketing.
However, as bigger sums of money are invested in influencer marketing, the more crucial the return on investment (ROI) becomes. After all, entrepreneurs do not appreciate throwing money down the drain.
This is where a data-driven approach becomes a necessity. Companies need quantifiable data to track and achieve higher returns effectively. A data-driven strategy will help you track whether your influencer marketing strategy is a success with your target audience and how you can better optimise your campaign to achieve your marketing goals.
Influencer marketing trends to keep your eyes on in 2022 #3: Nano and micro-influencers will have their time to shine
There is no denying the value of reaching a huge amount of people at once. However, if few engage with the content and your conversion rate is low, you might not be able to justify the significant outlay you have committed to your marketing campaign. Conversely, you might find having a lower but highly-engaged audience to be a more attractive proposition.
This is where nano and micro-influencers come into play. Studies have shown that engagement rates for the content generated by these influencers trump those with more followers. Their successes can be attributed to a more media-savvy audience, who prefers the authenticity presented in their content compared to a celebrity influencer.
This will undoubtedly be good news for smaller firms with limited budgets to work with. By working with a nano or micro-influencer whose values align with the company, the brand can achieve a significant conversion rate at a lower cost, leading to a higher ROI.
Influencer marketing trends to keep your eyes on in 2022 #4: CGI influencers may gain more popularity
Mention the term “Computer Generated Imagery” (CGI), and most people’s minds will turn to the modern blockbusters we see on the theatrical screens. However, you might be surprised to learn that CGI influencers are very much an actual trend in the digital marketing landscape.
Also known as virtual influencers, they are created by a team of programmers, designers, and social media managers through sophisticated technology, and they can be utilised in a wide variety of settings.
Even famous brands, such as Prada, UGG, and Diesel, have recognised the potential that CGI influencers offer by partnering with a renowned CGI influencer, Lil Miquela, to promote their products.
One of the biggest advantages of CGI influencers is the control brands have over their marketing campaign. When you are working with a real influencer, there are occasions where you might have disagreements on the direction of the content. However, since CGI influencers are merely brought to life by technology, you have a greater say on how you want your message to be delivered.
Influencer marketing is an ever-changing and evolving landscape. This is why brands must always keep themselves updated with the latest trends to keep up with the competition, and more importantly, build deeper connections with their audiences.