Three 2020 Influencer Trends
Influencers took the marketing world by storm in 2019. You couldn’t scroll through your explore page on Instagram without seeing some sort of influencer sponsored post. Brands and influencers alike are realizing the value of a personality and it’s paying off. While this industry grew exponentially in the past year, 2020 may prove to be an even bigger year for those in the influencer marketing space. According to Business Insider, the influencer marketing industry is set to jump from an $8 Billion industry to a $15 Billion industry by 2022. When deciding how to approach your 2020 influencer marketing campaigns, keep these three trends in mind.
1: New Platforms Have High Potential
Currently, Instagram is the king of influencer marketing. It’s hard to find better value in another platform when exploring influencer options. While Instagram is a great place to start, brands looking to branch out and take a risk on less established but high potential platforms in 2020 are likely to have great results. Platforms that brands and influencers alike need to be on the lookout for in 2020 are TikTok and Triller. These platforms are social communities that allow users to share videos with large networks of other curators. These videos are typically shorter than what you see on Instagram or Twitter. TikTok allows you to take videos up to 15 seconds in length. You can also sting up to four videos together to make one, capping it off at 60 seconds. Triller is similar, but strings a set of videos together for you to eliminate the need to edit. The default length of a video is 12 seconds. These platforms cater to the entertainment needs of Generation Z and have been growing exponentially because of it. According to Tech Crunch, 44% of TikTok’s 1.65 Billion users downloaded the app in 2019, with most of them doing it in Q4. TikTok is growing right now, and the trend isn’t looking to slow down. As for Triller, musically.com found that from October 23rd to December 19th, 2019, the platform’s monthly active users (MAU) jumped from 13 million to 26.5 million. With this growth happening in the two months prior to the end of 2019, the platform will be an exciting one to watch in 2020.
2: Long Term Brand-Influencer Relationships Will Be the Standard
While a one off post of an influencer may have been common in past years, brands are finding that long term deals are more effective in seeing results. When partnering with an influencer, the goal is to create a connection between the person scrolling social media and the brand. When someone sees their favorite social figure as an ambassador of the brand, it builds more of a trusting relationship. This will often have a greater effect on the potential consumer, leading to a higher probability of purchase. These longer contracts are becoming more and more popular, and this trend will continue throughout 2020. If a brand has the capacity in its budget for a longer contract, it is recommended!
3: Barrier to Entry for Influencers Looking to Secure Partnerships Becomes Stronger
Influencers of all shapes and sizes are popping up all over platforms like Instagram. With over a billion people using Instagram every month, the ability to gain an influencer worthy following is becoming increasingly feasible. With the rapid growth of influencers in the market, it may be harder for them to find brands to partner with. Unless an influencer has a very specific following, it may be hard for brands to find the perfect fit. Influencers are beginning to sign with agencies to expedite the selling process. This trend will be very common in 2020 because of the added value an agency provides. Influencers looking to get compensated for their work should be looking to find agents as soon as possible to take full advantage of industry growth.
Getting on top of this evolving industry before it explodes (more than it already has) should be on every brand and potential influencers to-do list in 2020. Look out for these trends and more as you look to navigate this ever changing influencer marketing space in the years to come.