The year 2020 upended the entire world of commerce. As the pandemic raged on, consumers remained at home. Social media became the main connection to the outside world. Marketers also shifted towards digital marketing to capture these new digital natives’ attention.
But to grab the consumers’ fleeting interests, brands had to turn to new marketing ideas. Influencer marketing is much in sync with changing consumption patterns. Thus, it created the scope to expand horizons organically and humanely. As per the State of Influencer Marketing Report of 2020, influencer marketing was 18% more effective in driving sales than in 2019. In terms of growth in influencer marketing, 2021 is to ring in many new trends.
The global influencer marketing platform’s market size is to grow at a Compound Annual Growth Rate (CAGR) of 32% after 2020. Consumers are increasing the adoption of ad-blocking software in the digital arena. Hence, brands can leverage the immense scope of influence marketing to deliver their messages to the right audience in 2021. Here’s how:
- Greater capacity to reach the right audience through micro-influencers vis-à-vis celebrities:
An analysis of over 800,000 influencer accounts showed a surprising fact. Influencers with higher follower counts do not generate enough engagement rates. Micro-influencers, even those with as little as 1,000 followers, deliver better ROIs. Consumers prefer connecting with such influencers who share similar backgrounds with them. They look upon influencers having direct relevance to the product as fellow consumers. Thus, they trust their opinions. Celebrities, in contrast, seem like distant fantasy figures. Therefore, brands can easily target desired audiences in 2021 with lower investments.
- Identifying new opportunities for promoting products and services
So far, critical end-users for influencer marketing platforms were segments such as
- fashion and lifestyle
- retail and consumer goods
- travel and tourism
- gaming and mobile apps
- healthcare and wellness
- banking and finance
But more sectors can take advantage of this popular marketing technique. 2021 is also likely to see brands taking the help of an advanced workforce to spread awareness. Internal associations with brands can enhance the influencers’ ability. Brands gain through having more say over how campaigns run. Also, when partners talk about brands they collaborate with, it looks more genuine than covert sponsorships.
Angel Broking, India’s leading stockbrokers, identified the groundbreaking scope of influence marketing platforms. They have created their very own influencer marketing platform, Angel Amplifiers. Influencers can partner with Amplifiers and spread awareness about stock trading. 90% of influencers use tools to create engaging content. Amplifiers make such tools readily available. The platform also supports influencers in content, design, and strategy creation. Other brands can also utilize this fast-growing marketing tactic.
- Further organic reach with increasing social media platforms:
Instagram, Facebook, and YouTube continue to dominate the social media scene. But newer platforms are gaining popularity. Also, with the ban of TikTok, Roposo, Chingari, MX TakaTak, Trells, etc., gained traction. It claims to have grown to over 64 million users in India, and 18% of the influencers have already created profiles. Thus, brands can explore fresher grounds to build their audience organically in 2021.
Conclusion – The future of marketing
Unfortunately, 60% of influencers surveyed (under the Influencer Marketing Report India 2020 by Influencer.in) do not get to work with more than three brands in a month. Delayed payments feature among the top challenges they face. Fortunately, platforms like Angel Amplifiers promote clear communication between brands and influencers. With such platforms, influencer marketing in 2021 can see brands overcoming the worldwide economic slowdown challenge, ensuring successful promotional campaigns.