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Navigating the Future of Influencer Marketing: Trends, Best Practices and Case Study

Today, we discuss about one of the essential strategies for digital marketing, influencer marketing. While talking about this field, one can easily see some trends being born. This article touches on the power of micro-influencers, the importance of authenticity, and the expectations for ROI. Moreover, success stories with several campaigns allow one to see how much micro-influencers can bring to the macro-companies.


Micro-Influencers, the new trends

Firstly, as defined by Sprout Social, a micro-influencers is a type of influencer with 10,000 to 100,000 followers in social media, such as Instagram or TikTok. These influencers achieve high engagement because they produce the “short-form” content that is usually more relatable to their followers’ lives. Unlike macro-influencers, micro-influencers maintain a close relationship with their target audience, as a result, achieving more trust and effective endorsements: using the micro-influencers, the companies achieved 60% more engagement in comparison to large influencers.


The image is a graphical representation of influencer audience reach versus engagement rate. It’s shaped like a triangle with the widest part at the bottom, indicating that as audience reach increases, average engagement rate tends to decrease. The triangle is color-coded to represent different influencer levels: Nano influencers are at the top with a smaller audience (0-10K) but higher average engagement rate, followed by Micro influencers (10-100K), Mid influencers (100-500K), Macro influencers (500K-1M), and at the base, Mega Macro influencers with more than 1 million followers showing a larger audience but lower average engagement rate.
https://www.anvilmediainc.com/blog/why-micro-influencers-may-be-the-key-to-your-brands-success/

The reason for this trend of this kind of influencer might also be the new concept that has appeared precisely now. Micro-influencers, taking advantage of the visibility of the endless scroll, are using it more and more actively to promote their content. The endless scroll is a never-ending line of content that users see in their news feeds on social media platforms. For micro-influencers and content creators, this means endless opportunities for content. As micro-influencers typically form more concentrated and dedicated audiences, the flow of almost constant feed has opened up new opportunities for them. In addition, the more users interact with their content, the more often the algorithms view it. Hence, it is in the hands of the influencers.

Authenticity is the new key

Also, the 2023 trend is the rise of authenticity in marketing, especially on social media. More than ever, brands are expected to communicate with their audience genuinely as the skepticism of fake messages grows. Moreover, behind-the-scenes content, taking position on different matters, and sharing real people’s stories are the key strategies to promote authenticity. So, authenticity is very important because it adding credibility but also increasing brand trust. According to a Sprout Pulse 2023 survey, 47% of marketers see this as influencer marketing’s greatest benefit.

@berwickmitsubishi

It’s always a dramatic experience 😛 We are nearly at 20k followers!!!! We ❤️ you all! #berwickmitsubishi #workplacetiktok #fyp #marketinggirlies

♬ son original – medici.tv

Measuring ROI in Influencer Marketing

Moreover, determining the ROI for influencer marketing campaigns is important for understanding their efficiency and making decisions regarding marketing strategies. Thanks to sophisticated analytics instruments, it is possible to measure metrics such as engagement and conversion rates, as well as brand sentiment. Thus, according to the Influencer Marketing Hub, the average brand is reported to earn $5.20 in revenue for every $1 spent on influencer advertising. Thus, the ROI is 520%.

Successful Campaign: Gymshark

A good example of such a campaign is the action of the fitness clothes and accessories brand Gymshark. The brand involved micro-influencers, that is, real users and fans of the products used in life. As a result, the content of this company became more authentic but also led to an increase in sales by measurable indicators. The brand name became more recognizable. At the same time, the use of products of the same brand by fitness influencers, so-called Gymshark Athletes, in their video on TikTok or photos on Instagram can also refer to the strategy of the brands. The influencers show new acquisitions of the mark in each such short video as ordinary clothes, offering discount codes in their stories, and then offer a link to the item on the company’s website.

For example, this influencer couple @Gregorandhattie demonstrated the effectiveness of this approach by featuring their Gymshark haul and encouraging followers to use their affiliate link for discounts.

@gregorandhattie

Trying on mens gymshark🦈 what do you think?? code GREGORHATTIE for 10% off🤭 #gym #gymtok #gymootd #tryon #gymfit #gymshark #haul #gymhaul

♬ original sound – Gregor and Hattie

So, what do we retain ?

In conclusion, the future of influencer marketing is shaped by a strategic focus on micro-influencers riding the wave of infinite scroll, a commitment to authenticity and a rigorous approach to ROI measurement. Brands that adapt to these evolving trends and practices are likely to see their influencer marketing efforts crowned with success.


Sources:
“The Rise of Micro-Influencers: Why They’re Key to Your Marketing Strategy in 2023” by Haley Bruggeman, OpGo Marketing, Accessed April 20, 2024.
https://opgomarketing.com/influencer-marketing-trends-2023/

“The Power of Micro-Influencers: A Comprehensive Guide to Maximizing ROI and Authentic Connection.” By Clark Influence. Accessed April 20, 2024.
https://www.clarkinfluence.com/en/post/the-power-of-micro-influencers-a-comprehensive-guide-to-maximizing-roi-and-authentic-connection

“7 Examples of Successful Influencer Marketing Campaigns.” by Kenan, J. (2024). Sprout Social. Accessed April 20, 2024. https://sproutsocial.com/insights/influencer-marketing-examples/.

“Authentic Marketing Myths and Tips for Getting It Right.” Sprout Social, 14 Nov. 2023. Accessed April 21, 2024. https://sproutsocial.com/insights/authentic-marketing/

“What is Influencer Marketing? – The Ultimate Guide for 2024.” Influencer Marketing Hub, Last Updated: January 30th, 2024. Accessed April 21, 2024
https://influencermarketinghub.com/influencer-marketing/

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