Influencer marketing is a popular marketing tactic in which a brand collaborates with popular social media users to promote its products or services. The brand typically pays the influencer or provides them with free products/services in exchange for using their likeness to promote the brand.
According to McKinsey & Company, the influencer marketing economy was valued at $21.2 billion in 2023. The use of influencer marketing has more than doubled since 2019.
So, how does someone become an “influencer?" While anyone can be an influencer, they are generally people with sizable social media followings who can influence their followers’ behavior.
Interested in adding influencer marketing to your brand’s strategies? Let’s explore some of the latest influencer marketing trends.
Trend 1: Authenticity and Relatability
Brands are focusing less on celebrity endorsements and more on long-term relationships with influencers who genuinely share their values. Brands want to work with macro-influencers and influencers with an authentic and relatable social presence.
When working with an influencer, brands need to ensure that the influencer will improve trust with their target audiences, not erode it. Influencers can build trust, engagement, and grow relationships with consumers by openly sharing their personal stories, experiences, and insights. In doing so, influencers humanize a brand and build trust and respect.
Trend 2: Co-Creation and Collaboration
Co-creation involves brands and influencers working together on content creation that promotes both parties and reaches a wider audience. Traditionally, brands pay an influencer and let them create the content, but co-creation opens new opportunities while giving both parties a say in the content produced.
This deeper form of collaboration allows brands to co-create with their community, creating content their audiences want to see. Advantages include:
- Increased reach
- Authenticity
- Creative Diversity
- Increased Engagement
- Stronger, Long-Term Relationships
Trend 3: Niche Followings
Micro- and nano-influencers are gaining attention because of their smaller, more focused audiences. A nano-influencer has fewer than 10,000 followers, while a micro-influencer has 10,000 to 50,000 followers. These niche-focused influencers often produce more relatable content than influencers with larger followings due to their more targeted and engaged audience.
Having a smaller audience can actually benefit a brand, as the influencer is more likely to have followers aligned with the brand's target demographic. These influencers are often considered experts in their niche and can have stronger relationships with their audience. This also helps foster the authenticity and relatability mentioned earlier.
Influencer marketing is a growing trend, but it might not be right for every brand or business. It is important to fully understand influencer marketing and make sure you're focused on what will help your brand grow. WVU’s Influencer Marketing course helps you develop a comprehensive influencer marketing campaign and understand how to integrate it into your marketing plan.
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Meet the Author
Stefanie Moore
Marketing Manager
Stefanie is a marketing manager in the Marketing Communications Online Programs through the College of Creative Arts and Media at West Virginia University. She is an alumna of WVU's M.S. in Integrated Marketing Communications (IMC) and has been working in marketing for over 6 years after beginning her career in the newspaper business. She's a marathon runner and she recently ran a qualifying time for the Boston Marathon.
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Marketing Communications Today is a collection of resources for marketing communications professionals filled with industry research, marketing trends, and career information about integrated marketing and data-driven communications. Learn industry insights through the Marketing Communications Today blog, podcast, as well as Integrate Online.
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