Influencer marketing has proved indispensable for brands in the fashion, luxury, and beauty industries, especially after the unpredictable global pandemic meant that they had to overhaul the way that they communicated with consumers. With new demands and expectations from audiences driving the way that B2C companies create and solicit content, we look at some of the key trends in influencer marketing today.
Campaign partnerships allow for more autonomy for influencers
If there is anything that brands have learned from 2020, it is that the most successful social strategy speaks to consumers directly and communicates brand values on a genuine level. One of the best ways to do this is by shifting the power towards influencers when it comes to collaborations or partnerships. Allowing influencers to drive the creative direction of the content they provide for a brand, makes the partnership resonate in a more relatable, as the posts or videos fit in with their overall feed, channel, or existing content. Additionally, it can be challenging for brands to speak to and sympathize with individuals during uncertain times such as Covid, as the brand speaks as just that – a brand. Previously, brands might have a laundry list of requirements and revisions during their influencer partnerships, but now, they are starting to shift control back towards influencers in order to generate more empathetic, humanized content that really converts.
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Measurement makes for smarter decision-making
Brands are starting to redirect their marketing budgets as Covid has heavily financially impacted almost every industry. This creates a need for brands to make data-driven decisions with their budgets and who they partner with, in order to guarantee ROI from their influencer marketing campaigns. The most successful campaigns are the ones that create a good match between the values of the influencer and the values of a brand, otherwise, audiences won’t be convinced, and can easily criticize or boycott a product that has been advertised or promoted to them. Measuring what works and what doesn’t for your brand, as well as brands in your space is critical when it comes to initially deciding who to reach out to for a specific campaign.
Using an influencer marketing software is one of the key ways brands can invest in order to measure and optimize their strategy. The Forrester New Wave™: Influencer Marketing Solutions report, Q2, 2020 stated that Launchmetrics’ Influencer Campaign Management software “should be on the shortlist for any luxury or fashion brand. Launchmetrics has a long client roster of the biggest fashion brands. It also offers fashion-specific machine learning for logo identification and facial recognition and plans expansion into China, a very important market for fashion, luxury, and beauty.”
Video content continues to increase in popularity
An already popular format, Covid drove influencers even farther towards video as platforms like TikTok took over. Video content is more humanizing for both brands and influencers as it allows followers to get a more in-depth and intimate look into their favorite influencers’ lives, in a more ‘unfiltered’ way. IGTV and Instagram Live have also become more popular than ever before, as they represent new mediums for influencers and celebrities to get closer to their fans in real-time. Recently, and the following suit from the Chinese market, Instagram has further pushed their shoppable features, allowing for live selling which has proved so successful in the East. It’s likely this will continue to expand and prove successful making conversions more frequent and allowing for consumers to easily purchase the products they like directly from influencers online.
It’s key for brands to pay attention to the shifts in influencer marketing, and understand the trends that are really resonating with consumers in their industries. Measuring the performance of existing or past campaigns and benchmarking yourself against your competitors is a great way to do this without risking budget spend. Read more about the best platforms for influencer marketing in The Forrester New Wave™: Influencer Marketing Solutions report, Q2, 2020 below!