4 Influencer Marketing Trends to Watch Out for in 2023
It's only natural to start thinking about the future as we are near the conclusion of yet another singular (and sometimes unpredictable) year for both consumers and businesses. In 2023, what on earth may be around the corner, and how can we best prepare for it?
Because of recent pandemics and economic uncertainties, forecasting has never been an easy assignment for marketers. It's logical to conclude that influencer marketing will continue to be at the vanguard of brand marketing discussions, even if none of us can anticipate the best-practice methods for 2023 with absolute certainty. Remember that the worldwide influencer industry was estimated to be worth a record $16.4 billion in 2022.
So, let's get started with the influencer marketing trends you can rely on to keep your brand growing all year long.
1. Livestream Shopping Will Drastically Increase
Livestream shopping has been a fast-expanding practice in Asia, and now it is spreading to other countries across the world.
Interested customers can buy items through livestream shopping when influencers explain and test them live on platforms like Instagram, Facebook, or Amazon. Viewers have the opportunity to evaluate the product and raise any issues they may have.
Unlike product videos, where viewers are unsure of what is real and what isn't, livestream shopping delivers an unfiltered view from an influencer with a devoted following.
Instagram launched Live Shopping in September, allowing users to buy goods straight from Instagram Live. This is something that will undoubtedly accelerate this trend, especially in light of Instagram's worldwide reach.
2. Greater Focus On Computing ROI
The majority of marketers use email and direct messages to coordinate their influencer partnerships. Here's the issue: without real-time data and reporting, it's hard to tell if the partnership was effective or not.
The marketer should make sure that the celebrities' audience aligns with the brand's target demographic before selecting them. One of the factors contributing to the rise in popularity of influencer marketing platforms is the fact that these platforms offer real-time audience demographics obtained straight from the social media platform.
Brands are also focusing on monitoring the effectiveness of influencer marketing, including the outreach, likes, saves, and comments that each individual piece of content receives as well as the effect on purchases as measured by employing discount coupons and quantifiable URLs.
3. Cross-Channel Campaigns' Growing Popularity
Cross-channel marketing is essential for marketers as the average user utilizes 6-7 different social media sites on a daily basis.
Reaching a much larger audience is feasible by engaging in cross-channel cooperation. For instance, Instagram is used for connecting, finding inspiration, and receiving product suggestions, but TikTok is mostly used for fun. In other words, while working together on TikTok and Instagram, the final product might be published in an entertaining, creative manner on TikTok, but in a more aesthetically pleasing and educational way on Instagram.
4. Brands Will Prioritize Partnerships With Influencers
Similar to other marketing strategies, more and more companies are using influencer marketing year-round, not only in the run-up to the major holidays.
Long-term influencer collaborations are something we constantly advocate for since they not only get noticed on social media but also give the company greater results. That’s because they appear more reliable. Not to add that long-term partnerships need less of the marketers' attention.
As a result of the expansion of influencer marketing, more companies are warring for high-quality influencers. After a company identifies suitable influencers, it makes sense to turn them into brand ambassadors.
Brand ambassadors employ the company's products on a regular basis and promote them both on and off of social media, taking influencer marketing to a whole new level. Consequently, the impact is significantly greater than with one-off Instagram partnerships.
With the help of such innovative trends, it's no surprise that the influencer market is at an all-time high. So, it should come as no surprise that 63% of marketers plan on boosting their spending in this department.
As influencer marketing grows in popularity, interest, and marketing budgets, it's critical to pay attention to these trends for 2023 to ensure that your brand is going in the right direction.