The proliferation of platforms and formats like short-videos have changed the influencer marketing game for marketers, brands and creators. In this fast-evolving space, keep up with the big trends and hot topics that matter in Storyboard18’s Weekly Shorts in collaboration with affable.ai, an end to end AI-powered influencer marketing platform. Track how creators, communities and brands are engaging with users and disrupting marketing to get a sharp and fast insight into the present and future trends.
Influencer marketing works because of ‘Trust’. Word of mouth has been the most prominent form of marketing for decades because people trust others over business entities. Influencers help amplify this word of mouth.
As the fear of recession looms, more budgets will move toward influencer marketing. $16.4B was spent on Influencers in 2022, which is expected to surpass $20B in the next two years. Influencer Marketing isn’t a fad anymore.
As 2022 winds down, now is a great time to think about how you’d want to create an effective influencer marketing strategy for the next year—and equally important, what you should leave behind.
Brands have also been focusing more on diversity and inclusion in their influencer selection. Data helps drive more diversity by reducing human bias. As marketing budgets shrink, every dollar will be carefully spent. We already see early signs of affiliate-like influencer programs where influencers are compensated based on the sales they drive for the brands. It aligns incentives for the brands and influencers. In 2023 and beyond, we will see more and more brands leveraging influencers as affiliates to drive sales for them.
Said that influencers are also looking for monetization opportunities. In the last couple of years, we have already seen mega influencers launching their brands….