Influencer Marketing on Verge of evolution as “Gen Z” Grows
The latest evolution of influencer marketing involves going back to loyal customers and using their feedback as a content to promote your brand. The brands who target younger generation indulge more in influencer marketing as their market segment spends major part of their time online and as they keep up with the latest trends, it is more convenient to influence them using those trends.
Tim Sovay, CEO of CreatorIQ said “As the industry evolves, we are moving away from what was ‘Influencer Marketing 1.0,’ which was really a transactional relationship between brands and the creators that they worked with on one-off campaigns.”
His company has a database of over 20 million creators and they are witnessing that marketers are looking for longer term partnerships with influencers who have the same social values as their brand, to be the ambassadors of their brand.
Those longer term partnerships with influencers may last for a year or maybe more and may include services like design ideation or consulting on product launches.
TIKTOK STEERS DEMAND FOR AUTHENTICITY
The millennial generation wants the brand campaigns to be authentic, a trait that is emphasised by the video making and sharing app, Tiktok. This is a great platform for promotion as the younger generation spends more time on this application than watching television. The usage on this app even grew more during the pandemic. The marketers are recommended to collaborate with generation Z influencers to learn more about their market segment.
IMPROVED MEASUREMENT AND SCALE
Like many other marketing arenas, Influencer marketing is turning into a more data driven one giving the marketers a better idea about the market and the aspects to focus more on, figuring out if they are getting a considerable return on their investment and other business outcomes.
Sovay said, “Shopping and social commerce is really set to explode over the next 12 to 24 months in the U.S.”
Brands are also forecasting to support their influencer practices with paid promotions and media to stretch the reach beyond the organic following creators have gained on their respective social platforms.
Sovay quotes “With more scale, you have the ability to have more conversion and more attribution, you can sell more products, you can get more downloads, you can get more people to take an action beyond just the audience of that creator that you’re working with or creators.”
CUSTOMERS AS INFLUENCERS
A considerable close relationship can be predicted with a brand’s influencers and its loyal customers.
Sovay says “Influencer’ means so many different things now — and really one of them is understanding what your high-value customer is.Brands have these large databases of emails and first-party data. A brand can partner not just with a number of creators but really empower their most active and ‘influential’ customers.”
The collaboration of influencer marketing and consumer experience can be can be taken to a higher level to increase reach of the brand and gain more loyal customers for the brand.
It is insisted to make your customers your partners and provide them incentives to do so.
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