What’s in store for 2023 in terms of Influencer Marketing? We could make several recommendations, but we’ve broken down three major trends for your marketing mix this year.
Even if you don’t know exactly what Influencer Marketing is, you probably do know that it is a hot buzzword in the industry. It has become a fast-growing form of online marketing, quickly earning a spot in many brands’ marketing strategies.
Here at Aletheia Marketing & Media, we have a unique approach to our influencer campaigns, which includes linking a determined Values Seeker to your influencer. With the noted trends for 2023 and our practical efforts, we are sharing the top trends to expect this year that will help your business grow alongside our proprietary tools.
Influencer and Affiliate Marketing are converging.
Businesses are becoming more focused on driving sales and conversions than providing awareness alone. Leading your efforts with the need to prove the efficiency of Influencer Marketing campaigns (either ongoing efforts or a first-time launch) will ensure your marketing dollars are put to good use. Showing efficiency through awareness can continue, but efficiently driving actual sales numbers is even better.
Sales numbers can be attributed to an influencer campaign by borrowing successful methods seen from Affiliate Marketing, such as coupon codes and creator links.
For example, your eco-friendly soap brand is launching a new online shop, and you need to generate site traffic and sales. We can find and manage Purpose Seeking Influencers to spread awareness and ultimately drive their followers to your site with the incentive of a coupon code. Consumers love saving money, so why not offer a limited-time influencer code to promote your newest product or incentive?
Brands and agencies switching to performance-based compensation.
As more brands and agencies gain experience with implementing influencer campaigns, they often begin to learn about the rising competitiveness among influencers’ rates for content and media rights. Paying a hefty fee can feel risky without knowing how their content may perform.
Suppose this is a fear for your team or client. In that case, you may be interested in participating in Performance-based Compensation, a new method of paying an influencer to promote products and services.
An influencer’s services can be paid based on how their post performs. Rather than paying a large lump sum after they have posted, you pay according to their post’s performance, such as a percentage of revenue driven (perhaps driven by coupon codes) or a set cost per number of giveaway entrants driven. This allows both parties to be aligned on the goals and cooperate quickly and efficiently to boost content as needed and focus on the brand’s success— no more of the occasional post/forget attitude and hoping for the best.
First-party data to identify customers as influencers.
Understanding the process of discovering and briefing influencers can become tiresome, from negotiating affordable rates to securing specific posting dates and times to finding enough exposure in a specified product region (we can help here). These concerns cause many brands and agencies to worry if influencer posts will drive the desired number of consumers to purchase their product from their preferred sales channel. This trend may widen in 2023, pushing brands to stick to the marketing tools they are already familiar with instead of trying this fast-growing and effective tactic.
We’ve all heard about the ongoing hashtag and action of #TiktokMadeMeBuyIt, which involves viewing some new ever-changing cleaning item or beauty hack, driving users to purchase upon completion of a 30- to 60-second video. Some users within this category could be considered your next Pleasure Seeker Influencer, looking for their online purchase of excitement.
In other words, contracting influencers who are your current customers may alleviate the burden of sourcing high-paid influencers or inauthentic creators who promote any brand just for the income. Having localized creators who genuinely love your product promote it to their engaged circles can also result in generating additional honest reviews from other viewers.
There is always a good time to start implementing Influencer Marketing for your brand or clients this year, so reach us at firstname.lastname@example.org to learn more about our Values Based Influencer campaigns—and how we’d be the perfect partners to scale your business with our influencer program.