With a market value of $16.4 billion and projected to reach $22.2 billion by 2025, influencer marketing is a powerful tool for brands. Here are the top 10 trends to watch for in 2023:
1. Authentic Connection: Consumers are looking for more genuine content from influencers, rather than polished and staged posts. Platforms are also prioritizing this trend, with TikTok algorithmically favoring locally-sourced content.
2. Gen Z Marketing: The voices of Generation Z are becoming increasingly influential in the digital landscape. They are pushing for more diverse and inclusive content, and are more socially and politically conscious than older generations.
3. User-Generated Content: As people move away from scripted content, brands are turning to user-generated content (UGC) to provide more transparent and relatable content.
4. #NicheTok: TikTok has seen a rise in niche communities, where users can share their interests and passions. Brands will likely collaborate more with niche creators to increase the relevance of their marketing efforts.
5. Creator Subscriptions: Platforms like Instagram are introducing subscription models for creators, allowing them to monetize exclusive content and reach specialized audiences.
6. Live E-Commerce: Shoppable livestreams have become increasingly popular in China, and brands may start to adopt this strategy to complement existing creator content.
7. Google on TikTok: More and more users are turning to TikTok for information, rather than Google, as the platform provides personalized results that can be easily consumed visually.
8. YouTube Shorts: In response to TikTok's popularity, Google has introduced YouTube Shorts, which provides creators with more ad revenue and a larger subscriber base.
9. AI-Imaging Tools: Brands and marketers may start using AI-based imaging tools to keep up with the constant demand for content.
10. Surge of the Super App: With more and more apps vying for attention, super apps that offer a range of services are becoming increasingly popular. Platforms are preparing for this shift by expanding their offerings and adding cross-functionality.
Influencer marketing is a powerful tool for businesses to reach their target audience and increase brand awareness. By partnering with influencers, businesses can tap into their audience's trust and credibility. Influencers have a large following on social media and are able to promote products or services to a highly engaged audience. This form of marketing also helps businesses to reach a specific target market, as influencers often have a niche audience that aligns with the brand's target market. Additionally, influencer marketing can increase website traffic and sales, as well as improve brand loyalty and customer retention. Overall, influencer marketing can be a cost-effective and effective way for businesses to reach and engage with their target audience.
Maddie is the Founder of the Mad Social Agency. Maddie’s entrepreneurial roots stem back to high school where she piloted her first business, Social Clothing. When she realized how effective her self-taught marketing techniques were, based on the rapid results she was getting, she decided to try social media marketing as a freelance business. In the matter of a few months, she needed extra help because she was gaining traction faster than she had ever anticipated so she took on her first employee. In early 2021 Maddie stepped away from her day job to pursue her second business, Mad Social Agency, as a full-time business.