Trends of Influencer Marketing for 2020

Three years ago I remember sitting down at a restaurant to discuss the idea of starting a blog with my blog partner.  We talked about how we would create our blog with me building the website, the social media platforms we would need to advertise our posts to our audience,  and the world of opportunities blogging could bring. At the time, I have to be honest and I will admit that I was more laser focused on just the concept of creating a blog and bringing women’s stories to the forefront via my own platform than anything else.  But boy oh boy did I learn a alot more as we researched. I discovered that all the different avenues in which blogging can take you by becoming an influencer as well about the influencer marketing industry.  So let’s start with the basics and break things down.

What is an influencer?

An influencer is someone or organizations that are deemed to be subject matter experts or have social influence in their field. This is a person for example who loves celebrity gossip or knitting. They create a platform where they either blog, or vlog to showcase these products within this special niche. This person shares their passion to an audience that loves this niche just as much or is seeking knowledge from someone with expertise in this area.

What is influencer marketing?

Social media has opened a plethora of ways for marketers to expand their selling strategy beyond the traditional mass media channels that we millennial’s grew up on such as – tv, radio and print. An influencer attracts an audience on their social media platform and may be recruited by companies to advertise products to their followers. The influencer essentially “testifies” in their content about a product or experience over their platforms such as Youtube, Instagram, Twitter, Facebook or Tik Tok. This makes it a bit easier for the businesses as they are able to cut their marketing and tap into these influencers who have a trusted relationship with their followers and can do the marketing at a fraction of the cost. This works better in some cases because the average consumer makes a purchasing decision based on word-of-mouth communication. Also, this method is very effective because it increases a marketers reach more than in using traditional marketing channels. A consumer from the micro-influencers network is more likely to trust someone in which they admire than a company selling the same product or service. In turn, the consumer is more inclined to purchase the product or service.

The endless possibilities

Influencer marketing has grown over the last few years making it a multi-billion dollar industry. Let’s highlight someone like James Preece. He was well connected in the dating world and created an empire by bringing his network of single professionals, dating bloggers and journalists brings his expertise as a dating influencer to his audience on his dating YouTube channel. One day you could go from being a social media prankster like 18 year old Ben Azelart to staring in a YouTube dating series. At the beginning of this year, the influencer marketing industry is expected to grow to approximately $9.7 billion.  Even considering how the COVID-19 pandemic caused countries all over the world to mandate stay-at-home shelters all across the world shutting down businesses and/or their operations for months. It is a bit challenging to book an actor to shoot a commercial at a studio. However, it is much easier, safer and economical to have an influencer share the product or service on their network channels from the comfort of their own home. This industry is on thriving and shows no signs of slowing down.

Relationships

So how do you find the connection between influencers and brands? An influencer can search and find brands, contact each one and ask if they would be willing to collaborate on a campaign. I have taken this approach and became exhausted after my emails I assume were lost in their email box. Then there are companies like Intellifluence that have a huge network where you can connect with a range of brands that specialize in relationship topics. You can tap into their network by accessing their Marketplace where you can browse a countless number of offers. You select what offer makes most sense, work on the campaign and let the money roll in. It’s that easy!

 

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