Influencer marketing is now a serious consideration inside most digital marketing plans. But did you recognize that influencer marketing spend is definitely growing faster than investment into regular social ad spending?
That’s certainly one of the various findings in Insider Intelligence’s latest influencer industry report, which looks at the important thing trends which can be driving influencer marketing investment, and what brands must factor into their ad plans.
You can download the total report here, but in this post, we’ll take a have a look at a few of the key notes.
First off, Insider highlights the expansion of influencer marketing, and the way brands need to regulate their strategies to align with the brand new trend of influencers as major celebrities.
“The time to act is now. Influencer marketing spending will rise roughly 3.5 times faster in 2023 than social ad spending will. That’s a testament to the resilience of creators, even amid economic concerns and major competition.”
It’s not overly surprising to see influencer marketing budgets increasing at a faster rate than regular ads, especially given the rise of more creative-led platforms like TikTok, and short-form video in general.
But it is necessary to notice that more businesses want to lean on creators to amplify their brand messaging, which is changing the best way that customers are receiving such content, and will thereby reduce the impacts of standard ads.
Insider also notes that the Hollywood writers’ strike could drive more opportunities for influencer marketing, as more creators look to alternative opportunities to generate income (throughout the bounds of strike activity), while the push from social platforms to win over top creative talent can even provide more opportunities for brand partnerships.
That’ll open the door for more influencer marketing considerations, and will pave the best way for brand spanking new, more resonant influencer campaigns, by making it easier for brands to work with these users.
The full report also includes insights into how influencers are being profitable through an expanding range of opportunities.
It also looks at how influencers are fast becoming the important thing entertainers of their generation, with many now driving much more interest than traditional entertainment stars.
“They’re coming for TV. The trend toward episodic creator content is on the rise, with TikTok creators like Remi Bader and Ted Zhar leaning into predictable, TV-style videos on their channels. Few creators have successfully crossed over to scripted TV content on greater screens, but there may be consumer interest for it: Nearly two-thirds of US adults ages 18 to 24 and roughly half of those ages 25 to 34 were more likely to watch a scripted TV show or movie featuring their favorite creator.”
That’s one other big element to factor in. Over time, social networks are moving away from the “social” features, and more towards entertainment, again led by TikTok, which labels itself as an “entertainment platform”. Within this, social apps at the moment are less complimentary elements, and more the primary event, with people spending an increasing period of time consuming content on their mobile devices, scrolling through countless streams of video clips.
In many cases, it’s not where you go to debate the newest entertainment trends, but where those trends originate, which could change into a much greater consideration for those seeking to maximize audience reach.
The full report features a heap more observations and notes concerning the influencer industry, and the way our media consumption habits are changing in line with the newest trends.
Definitely value noting to your planning.
You can download the total Insider Intelligence report here.
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