What’s the future of influencer marketing? Spending on influencer marketing will grow 23.4% in 2023 to reach $6.16 billion, according to Insider Intelligence. With its growth and wide-ranging reach, you’ll likely notice industry shifts in the next few years.
Here are trends IZEA is predicting for influencer marketing:
Long-term influencer relationships will become the norm
Many brands have experimented with influencer marketing. Whether they use an influencer marketplace to find their ideal influencer or transform loyal customers into advocates, a growing number of brands see the value in influencer endorsements.
As brands grow familiar with influencer marketing and the types of campaigns that resonate with their target audience, they’ll shift from one-off campaigns to long-term relationships with influencers.
You’ll see more long-term relationships taking the shape of brand ambassador programs. Big-name companies like Red Bull, Patagonia and Lululemon, for example, all have brand ambassador programs, where a team of brand advocates regularly endorse the brand and its products. These advocates often have their own profile page on the brand’s website, attend local events, and promote the brand on social. They’re in constant contact with the brand’s marketing team and co-create new initiatives to reach customers.
Expect more of these long-term collaborations in the future.
Expect more influencer campaigns on TikTok
TikTok’s growth is impressive. In 2021, the app hit 1 billion users. The app, which launched in 2016, hit this milestone in just five years, much faster than any of its predecessors.
With its massive popularity, it’s not surprising to see more brands use the channel for influencer marketing campaigns. Research shows marketers will spend $1 billion on TikTok influencer campaigns next year, which will represent about 17% of all influencer marketing spend, according to Insider Intelligence.
You’ve likely already seen influencer campaigns on the channel, but expect more campaigns with well-known brands as video content garners 16 times more engagement than static posts.
Influencers will create more educational content
While amusing TikTok challenges will have their place in 2023 and beyond, expect influencers to create more educational content.
The trend has already begun. Research from Insider Intelligence shows 50% of brands already ask influencers to produce educational content, but it will likely increase.
Brands tend to start their influencer campaigns with a simple “endorsement picture” where an influencer is seen using a product. Now that brands are embracing influencer marketing, they’ll rely on their brand advocates to teach their target audience about their products.
Expect influencers to do product demos, give maintenance tips, or show consumers new uses for products.
Influencers will create their own brands
There are some influencers that have grown such a following that they’ve created their own brand and products. One of the first influencers to do this was the Kaji family. After posting toy reviews to YouTube with their son Ryan, the channel grew and now nets the 11-year-old and his family $29 million a year. In addition to advertising and product endorsements, the family has their own show on Nickelodeon and an entire line of kids toys in retailers like Target.
The Kajis aren’t alone. The popular D’Amelio family, which boasts a network of 390 million followers across multiple channels, just announced its partnership with investors to launch a brand based on their family of four.
And the list goes on.
Forbes recently talked about influencers creating their brand, saying it’s a smart way for influencers to cement their relationships with major companies as they co-create products with existing businesses.
As marketers look ahead, it’s important to have influencer marketing on your radar. Whether you’ve tried a handful of influencer campaigns or are launching a brand ambassador program, all signs point to continued success with influencers authentically promoting products and collaborating with brands.
To stay on top of trends, keep an eye out for IZEA’s 2023 trends report.
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