Influencer marketing has been on the rise for years, but 2023 is when we’re going to see it truly flourish.
Sixty-one percent (61%) of consumers trust influencer recommendations, compared to 38% who trust brand-produced content according to Influencer Marketing Strategy). That means nearly two out of every three consumers may listen to an influencer when making buying decisions.
However, as all marketing strategies do, the best practices are changing going into the new year.
Here’s what you can expect in influencer marketing in 2023.
THE SMALLER, THE BETTER
When it comes to influencer marketing, you might be thinking that bigger = better. Like, Drew Barrymore or Jenna Fischer big.
But in 2023, think smaller (or tinier, even). Now is the time to embrace micro- and nano-influencers.
Not only is this cost-effective (translation: happy clients), but it’s also a smarter way to reach your target audience.
As a result of their smaller followings, micro-, and nano-influencers are more engaged with their communities & have higher engagement rates. According to Meltwater.com, Micro Instagram influencers boast an average engagement rate of 3.86%, while mega-influencers see only 1.21%.
This means you can get your brand’s message across in more niche communities that value the influencer they follow (which, in theory, will drive more leads).
Conversion is key
Out with the vanity metrics, in with the quality KPIs.
Look, we know follower count, impressions, and reach are important. All we’re saying is to focus more on engagement, click-through rate, and conversations, too.
According to Upfluence, one of the most important KPIs for judging the success of your campaign is conversion rates – in fact, 42.3% of marketers report using conversions and sales to measure the success of a campaign.
Ultimately, the more users you attract to your website, the more leads you will generate.
Time to Switch to TikTok
… if you haven’t already. TikTok is way more than just dancing.
This platform has been one of the most popular social media channels in recent years (the platform saw a 15% increase since 2021, according to Statista). Even though the biggest audience seems to swing more towards Gen-Z and Millennials, there are plenty of different audience groups on this site.
This is especially ideal if your brand has a broad target audience.
MAKE IT OFFICIAL
Look, we know how easy it is to play the field… but it might be time to settle down and find someone serious.
Long-term influencer partnerships are on the rise in 2023, and with good reason. In theory, the longer a creator works with a business, the more they will become familiar with the brand.
Believe us — their followers will take note of this. This creates even more trust between followers & creators, who will then act as a brand ambassadors.
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Think About Diversifying
It’s no secret that people like seeing representations of themselves online.
In 2023, try and focus on diversifying your influencers. This will bring in more niche audiences that you likely wouldn’t have reached before — and will help spread the word about your brand faster.
This can also work hand-in-hand when you’re working with micro and nano influencers. With their smaller budgets, you’ll be able to diversify relatively easily. It’s all about knowing your audience.
When it comes to how you get your message across, think broader.
With Instagram launching the “Collaboration” feature back in 2021, it’s helped brands and creators link one post together — doubling the possibility of key metric success.
By creating a partnership (as opposed to the traditional transaction we’re used to), collaborations help both parties grow audiences and help increase reach and impressions.
Have you heard? Livestream shopping is the newest way to buy on social media.
This allows watchers to view an unedited version of the content, leading to more trust between viewers & creators.
In 2023, if you’re focusing on more transparency, consider choosing a platform that features livestream (like Instagram).
Have you gotten into the habit of focusing on just one channel while influencing? Consider breaking that habit in 2023. By expanding your campaign over multiple channels, you’ll be able to reach a much wider audience.
The key to this strategy is to adjust your goals based on the channel you’re publishing on — for example, Instagram is used for socializing, Pinterest is used for inspiration/planning, and TikTok is for entertainment.
Be sure to change your messaging on each channel based on why the audience is there in the first place.
Ready to own Influencer Marketing in 2023?
Brands large and small are embracing influencer marketing as a way to drive brand awareness and drives sales. Are you?
Fortunately, we know a thing or two about how to knock your influencer strategy out of the park. Ready to take the next step?