Influencer marketing, the art and science of leveraging popular figures to promote a brand, has evolved significantly over the years – which is the focus of our bonus episode. Our hosts Chris Norton and Will Ockenden, have taken our sold-out influencer marketing hacks for 2024 webinar and digested into another engaging episode of the Socially Unacceptable.
We cover:
- The growth of influencer marketing
- The power of micro-influencers
- Compliance – meeting regulations properly
- The trick of influencer relations
- Best use cases – which brands have got it right
The future of influencer marketing
What will influencer marketing look like in years to come? It has transformed from celebrities charging for a single tweet to a sophisticated system that drives brand growth exponentially. Today, influencers play a vital role in the marketing world, bringing about an undeniable magnetism that attracts consumers like never before.
Statistics show a whopping 400% increase in influencer marketing in the UK, demonstrating the power of this strategy. A notable shift is the preference of millennials for influencer recommendations over traditional ads, which is driving brands to reconsider their marketing approaches. And it’s not just about large influencers; the role of micro-influencers is gaining prominence, as they offer a more personalised connection with their followers.
Influencer marketing is evolving into influencer relations, reflecting a shift from one-off promotional campaigns to building long-term relationships. This shift brings a new dynamic to marketing, enabling brands to build loyalty and trust with their audience. Moreover, incorporating influencer content into paid social campaigns can supercharge your impact and reach.
Does influencer marketing only work for B2C sectors? Wrong. Approach and strategies for each differ significantly, and understanding these nuances is critical for success. For instance, B2C influencer marketing often involves leveraging influencers’ popularity and reach for brand promotion, while B2B influencer marketing relies on industry experts and thought leaders to build credibility and trust.
The ASA found that only 35% of advertising stories on Instagram were clearly labelled and obviously identifiable as such. Compliance is a crucial aspect of influencer marketing that brands cannot afford to overlook. With regulatory bodies like the Advertising Standards Authority (ASA) setting rules and guidelines, brands, agencies, and influencers must ensure their content is compliant to avoid potential penalties. With the growth of influencer marketing, could we see even more influencers getting into trouble in years to come?
Although 89% of advertisers are working with influencers only 29% have results to prove it’s effective. The key to maximising influencer marketing performance lies in monitoring and measurement. From requesting access to influencers’ analytics to using UTM tracking and affiliate codes, brands can gain valuable insights into campaign performance. And as marketing budgets get tighter with the current recession, the need to accurately measure ROI gets greater. Case studies, like the Stanley Cup campaign, highlight how creative and integrated influencer marketing strategies can deliver impressive results.
@jacqisdiary finally got one 🥹💗 yes it‘s absolutely worth the hype 🫶🏼 • #stanleycup #stanleytumbler #aesthetic #asmr #unboxing ♬ wonderland – tayloraudios🎧
In conclusion, mastering the realm of influencer marketing requires a deep understanding of its nuances, careful strategising, and continuous learning. Listen to this week’s episode to learn the right approach, so your brand can harness the power of influencer marketing for exponential growth.
For more updates, make sure to subscribe! In our next episode, we’re speaking with Josh Lachkovic, Founder of Amphora, a paid advertising and growth agency for Business Owners, speaking all about business f*ck-ups – very on-brand, we know!
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