2017 Influencer Marketing Trends
The main Influencer Marketing trends over the past few years have been rapidly adopted by the marketing industry and it’s increasing reputation as an effective form of marketing. That is expected to continue in the 2017 Influencer Marketing trends.
1. Increased use of influencer marketing by brands
More brands are going to be implementing influencer marketing campaigns. A survey by Chute noted that 60% of brands used influencer marketing as part of their 2016 marketing strategy, most noteworthy, as much as 75% of firms will do by the end of 2017. Furthermore, there is a general industry consensus, that influencer marketing is to become more and more popular.
As a result at PMYB, we are seeing first-hand clients that have not used influencer marketing before, approach us to do influencer marketing campaigns for them. The word is getting out about how useful influencer marketing is at driving traffic.
2. Increased price of influencers and decline in free products
Influencers are realising the value they provide marketers, therefore they have been increasing their prices in response to this. The big influencers, in particular, have been increasing their prices rapidly. The micro-influencers are slowly increasing their prices but they still provide value for money. We have written about how micr0-influencers have high engagement also. We wrote above that brands are increasing their budgets and moving towards influencer marketing – this is also having the effect of increasing the demand and hence price for influencers.
Consequently, at PMYB we only work with influencers that, are providing value for money for our clients. We are able to use our extensive knowledge of the industry and experience to help with this.
Influencers are increasingly only expecting monetary forms of payment for their promotions and therefore are saying no to free products.
3. More ROI Focus
As a result of a focus on ROI, brands and marketers are starting to look beyond the number of followers and likes that a follower has. Instead of focusing solely on those areas, there are strategies in place to see the value of the campaigns e.g. by offering coupons and seeing how many people use them. Therefore, expect an increased adoption and creation of tools in the industry, that will in conclusion help to measure ROI.
4. Increased use of micro-influencers
Micro-influencers are becoming more popular in the industry. In conclusion, research has suggested that micro-influencers have the best brand loyalty of any type of influencer. Read about micro-influencers and their presence in our network at https://pmyb.co.uk/influencer-marketing.
5. More creative ways brands are using influencers
At PMYB we have seen influencer marketing trends of campaigns moving away from influencers simply posing with products. The influencer marketing case study that we did for The Meat Man shows this taking place. We drove 10,000,000 views to a video within 48 hours. This was far from the influencer posing with the product.
Live streaming has become more popular. Facebook, for example has introduced Live Videos. We expect to see more influencer marketing campaigns making use of live streaming. An example would be a beauty company with their own range of makeup. They could hire an influencer to apply their makeup in real time to their followers. Again this is a step up from just posing with a product.
Video is the most popular form of media on the internet. Influencer marketing has seen increases in usage of this type of media, as well as live streaming. Instagram is the number 1 platform for influencer marketing – this is because of their ease of use and use of videos and photos.
The content created with influencers can be advertised to huge audiences by advertising on paid social platforms such as Instagram and Facebook.
6. Longer Term Relationships
Influencers are looking at longer-term relationships instead of regular promotions. This is a trend that is set to continue in 2017. It’s not very effective to see an influencer promoting various different products regularly, for example, every week. Followers are quick to call out people that for example are promoting a drink one week and then a clothing brand another week.
There is an increasing trend of more attention being paid to sponsored influencer content. The regulators include Advertising Standards Authority (ASA), Competition and Markets Authority (CMA) – UK and the Federal Trade Commission (FTC) – USA.
A recent trend has been towards awareness on when a promotion is a promotion. Promotions must now include #ad or #sponsorship next to them now, with firms facing large penalties if they fail to do this.
Influencers and brands will need to work together in a transparent way, at the same time looking after the connection and trust that has been built up.