2019 has witnessed a brilliant evolution in the influencer marketing industry. Right from the rise of new-age influencers exploring new, diverse niches to the increased media spends in influencer marketing, the business of influencing has certainly polished up. Needless to say, the time has come for all businesses to reap the benefits of influencer marketing to stay ahead of the game. As we move towards the end of the year, it calls for identifying the new opportunities that influencer marketing will bring forth in 2020.
1. Instagram vs. TikTok
While Instagram will continue to be the dominant social platform for influencer marketing campaigns, TikTok will be an equal participant in the transaction. TikTok is designed to promote entertainment content as compared to Instagram that endorses lifestyle content. Brands will, therefore, have to choose between the two depending on the goals and objectives of their campaign.
2. No Likes. Yes, new metrics
Instagram hiding likes in an attempt to depressurise the platform for young people is a clear indication that metrics will be important now more than ever. Marketers will definitely have to identify major key indicators that will help boost ROI in influencer marketing.
3. Beyond the Borders
Influencer marketing businesses in India will see the expansion of their influencer directory to include overseas influencers too, which will prove to be a major advantage to marketers looking to expand their business horizons beyond their national territory.
4. Storytelling is Key
The average human attention span has reduced from 10 seconds to 8 seconds. The only way brands can grab their attention within the first 8 seconds is through value-driven storytelling. The ‘less is more’ content philosophy will play an important role in enhancing value-driven storytelling.
5. Live content will succeed
80 per cent of brand audiences prefer to watch live content on Instagram, Facebook, and YouTube. In order to meet the expectations of audiences, brands will have to make use of customer preferences as an opportunity to ace influencer marketing. In this case, live content.
(The author is COO, Alchemy Group and Word.)