COVID-19: The Time for Influencers to Shine?
In a world of constant change, we take a look at how Influencers are on the rise, and whether COVID-19 is the time for influencers to shine?
How has COVID-19 affected Influencer marketing?
The COVID-19 pandemic has not only changed the way companies work and engage with employees but the way they market themselves. With a 40% spike in the time British consumers spend online, companies are turning their focus to influencer marketing. June this saw Tetley launching their Cold Infusions campaign, choosing home-made Influencer content over traditional advertising.
Over 73% of marketers have upped influencer spending, especially in the retail, legal, and manufacturing industries. Marketers have also begun working with Influencers across a range of platforms including print, television and radio, but influencer home grounds of Instagram and TikTok continue to be the most popular.
The Fall of Traditional Advertising
60% of marketers believe the ROI from influencer marketing is much higher than traditional print and television advertising. This is especially true for younger consumers aged between 16 and 25 who routinely use social platforms to make purchases.
Given the current climate, with social media replacing interpersonal contact, this is speculated to include older age groups as well, who now spend an increased amount of time on social platforms and have been forced to amend their shopping habits in favour of online options, with 25% of over 55s saying that they will now purchase products online that they would have earlier bought in-person.
As a result, spend on traditional media like radio, and print is anticipated to fall by 25%, as consumers show staggeringly low levels of engagement and conversion with these mediums. Additionally, the nature of the pandemic means that producing traditional content is higher risk, and brands are looking to influencers for alternative means of marketing and advertising that are safer and involve lower levels of human interaction. The impact of this can be seen through the overwhelming spending on online advertisements this year, of which influencers form an integral part.
Source: Statista (2020)
A Shift in the Nature of Influencer Marketing
The fundamental nature of the relationships between brands and influencers has become more relationship-based as influencers promote brand values and build brand image, replacing the previous transactional relationship, which focused heavily on the product.
Whether you’d like to focus on product or values, Instagram or TikTok when developing a strategy, it is important to remember that influencer marketing is all about authenticity and choosing an influencer that’s right for your brand and aligns with its values.
We help you do just this through prior analysis of content, followers and other metrics to ensure successful campaigns that deliver the results you’re looking for. Get in touch today to get started!