Influencer marketing is now a major consideration within most digital marketing plans. But did you know that influencer marketing spend is actually growing faster than investment into regular social ad spending?
That’s one of the many findings in Insider. Intelligence’s influencer industry report, which looks at the key trends that are driving influencer marketing investment, and what brands need to factor into their ad plans.
First off, Insider highlights the growth of influencer marketing, and how brands need to adjust their strategies to align with the new trend of influencers as major celebrities.
It’s not overly surprising to see influencer marketing budgets increasing at a faster rate than regular ads, especially given the rise of more creative-led platforms like TikTok, and short-form video in general.
But it is important to note that more businesses are looking to lean on creators to amplify their brand messaging, which is changing the way that consumers are receiving such content, and could thereby reduce the impacts of regular ads.
Insider also notes that the Hollywood writers’ strike could drive more opportunities for influencer marketing, as more creators look to alternative opportunities to generate income (within the bounds of strike activity), while the push from social platforms to win over top creative talent will also provide more opportunities for brand partnerships.
That’ll open the door for more influencer marketing considerations, and could pave the way for new, more resonant influencer campaigns, by making it easier for brands to work with these users.
The full report also includes insights into how influencers are making money through an expanding range of opportunities.
It also looks at how influencers are fast becoming the key entertainers of their generation, with many now driving far more interest than traditional entertainment stars.
That’s another big element to factor in. Over time, social networks are moving away from the “social” aspects, and more towards entertainment, again led by TikTok, which labels itself as an “entertainment platform.” Within this, social apps are now less complimentary elements, and more the main event, with people spending an increasing amount of time consuming content on their mobile devices, scrolling through endless streams of video clips.
In many cases, it’s no longer where you go to discuss the latest entertainment trends, but where those trends originate, which could become a much bigger consideration for those looking to maximize audience reach.