The good news is that influencer marketing is expected to continue to be a very effective marketing technique for firms, with a value of $24.1B by 2025.
Therefore, it is useful to have the most recent developments at your disposal while you investigate this social media marketing juggernaut.
Who is a UGC author, exactly? What’s the status of live shopping? Exactly how niche-specific can material get? In this article, we’ll go through the most important developments in influencer marketing to keep an eye on in 2023, including these and more.
What Is Influencer Marketing?
To promote a brand’s products or services, businesses can take use of “influencer marketing,” a kind of social media advertising that employs the endorsements of influential users and content providers.
Those who follow an influencer tend to view their suggestions as coming from a friend, as they are already held in high regard by those who follow them.
It’s a terrific approach to reach a receptive audience, introduce your business, and build a connection with prospective clients without coming across as too promotional.
In 2023, we will see a number of new developments in the field of influencer marketing.
Creator-focused The Markets Are Blowing Up
With the introduction of creative marketplace features, platforms like TikTok and Instagram have facilitated more productive partnerships between marketers and creators. Many companies, including Later and Walmart (yes, you read that correctly), are currently working to standardise interactions between brands and influencers.
We anticipate a change in the influencer marketing agency landscape as new platforms enter the market. What changes might we expect to see in our interactions with agencies if we can do everything from discovery to cooperation on a single platform? The future of this influencer marketing strategy is unclear, but it’s worth keeping an eye on.
Reduced Use of Filters and Editors
The trend in social media and influencer marketing now is toward material that is imperfectly perfect.
The trend among creators is away from the perfectly manicured feed look and toward the sharing of raw, unfiltered, and in-the-moment information.
Picture Instagram photo dumps and TikTok vlogs. Is there one region that has this down pat? Authors of BookTube.
The Ascension of User-Generated Content Authors
Over 86% of businesses employ UGC in their marketing plan, per Forbes.
In addition, there is solid cause for this.
User-generated content (UGC) is trusted more than branded advertising, may boost your product’s trustworthiness, and is ideal for filling your feed with eye-catching posts.
However, user-generated content relies on you being regularly tagged in photographs and videos; for emerging firms, this may be a time-consuming process.
Enter user-generated content makers, or freelancers who focus on making content for businesses that looks like user-generated content. With no need for lots of followers or the requirement to reveal their face, this approach is popular with seasoned and prospective influencers of many areas.
What do we foresee? Content makers that use user-generated content (UGC) may soon be as valuable as traditional influencer relationships in terms of driving sales and website traffic.
Rise of “Stock Content” as a Common Practice
It’s impractical to expect influencers to provide new content every day, what with community development, partnership duties, and just being human.
That’s where stock content comes in, or “B-roll video for low-lift high-impact content,” as entrepreneur Natasha of @shinewithnatasha puts it.
“I have a complete folder of ready-to-create movies for times I want to show up but can’t be bothered to chat on camera or flawlessly nail a lip sync trend,” Natasha writes in her Reels post.
Simple self-filming, like preparing a pot of coffee or strolling down the street in an out-of-the-ordinary outfit, is all that’s required.
Because of the abundance of pre-shot media, producers may focus on their emotional well-being and devote more time to connecting with their fan bases.
Grid Bank is just one example of a platform that has emerged to meet the growing need for stock material to fill editorial calendars.
Niches Develop Your Specialty
Aspiring opinion leaders have long been told, “Find your specialty.”
However, many people have had to get innovative with their material in order to compete in light of the rising saturation.
Finally, what does this mean? The specialisation of markets continues.
Sustainable fashion, community-based living, plus-size apparel, and so on.
Prominent People Who Decided to Start Their Own Companies
We have observed an uptick in the number of budding business owners in the influencer marketing sector.
While being an influencer might take up a lot of time, we’re talking about those who have made successful careers out of it.
One example of an influencer-turned-entrepreneur is makeup artist Rowi Singh, who recently released a line of cosmetics inspired by her own style.
For brands, what does this mean? It creates a plethora of prospects for teaming up.
If you have a campaign coming up, you might want to think about collaborating with the influencer’s account and their brand account to host a giveaway or do a joint project.
When appropriate, it might be to everyone’s advantage to take advantage of their new company venture.
The Revival of Serialized Stories
In 2022, TikTok extended their maximum video length to 10 minutes, confirming that long-form content is here to stay.
Popular subcultures like the beauty industry are producing lengthier films for TikTok and Reels, ranging from vlogs to instructive content. Are people getting bored with rapid-fire fashions? Is there a chance that producers may start making longer, “episodic,” pieces of work? More importantly, how does this affect video-sharing websites like YouTube?
Publish Your Salaries
The question of how much money influencers make isn’t easily answered.
Rates aren’t standardised, and it’s unclear how much (or if) corporations pay, making it hard for creators to assess their worth.
In 2023, platforms like Clara for Creators and FYPM are facilitating open dialogue between creators and companies over compensation. As these databases grow, influencers will be able to avoid working with unreliable parties and instead focus on building mutually beneficial relationships.
This should serve as a friendly reminder to evaluate your pricing and procedures so that you may shine (in the best possible) in salary discussions.