The influencer marketing industry has seen many shifts over the past year. As we move into 2022 we wanted to share some of the trends we are seeing take shape in the industry. More and more companies are seeing the impact that influencer marketing can have and in turn are allocating massive portions of their marketing budgets to the channel.
Since 2019 the value of the industry has more than doubled, skyrocketing from 6.5 billion to 13.8 billion in just a three year period. The changes this year have been hard to miss, from TikTok’s boom, to Instagram’s shift to video-first, to Pinterest re-emerging as a major player.
Today we’ll take a closer look at some of the trends that we think are going to be big in 2022, how to utilize them to your advantage, and what’s really ahead for the industry.
Livestream shopping has been gaining momentum and popularity in the United States for the past year or so, fueled in part by the Covid-19 pandemic. This shopping format has been thriving in China for quite some time now, accounting for 20% of the nation’s total e-commerce sales. We’re now seeing it become increasingly popular here in North America, and we expect this trend to explode this year.
You can think of livestream shopping as the modern evolution of live TV sales. This format typically features influencers or hosts selling a product in real-time on a social media platform. Consumers are able to interact with the on-screen talent as well as purchase the product right then and there. This format allows the influencer to demonstrate how the product looks, feels, smells, and demonstrate how shoppers can use it. Additionally, it’s interactive; consumers can ask questions and purchase seamlessly.
As we move into the new year this format is going to take off. We’re already seeing many social media platforms such as Pinterest and Twitter lay the groundwork for livestream shopping, as well as services fully dedicated to livestream shopping such as Popshop Live. Additionally, this is the perfect opportunity to partner with influencers to spearhead your livestream shopping efforts. We already know that influencers have a special and powerful bond with their audience, so look to your chosen talent to deliver effective and creative content for your livestream efforts.
Co-creation, while not a new concept, is going to be a popular format for influencer marketing in the coming year as the creator economy continues to grow. Audiences feel more connected to their favorite creators than ever before and trust their opinions and recommendations. Because of this they are more inclined to purchase a product that the influencer has a creative stake in. Co-creation allows influencers to bring not only their audience but also their creativity to the table for your brand. Working closely with selected talent to co-create a product line has been wildly successful.
A great example of how effective co-creation can be is mega influencer and entrepreneur Arielle Charnas collaboration line with Nordstroms. The retailer enabled Arielle to create a capsule collection with their private-label brand, Treasure & Bond. The Something Navy X Treasure & Bond collection did $4 million in sales in just one day when it launched. These types of influencer and brand collaborations are going to expand as consumers look to support their favorite talent in new ways. Brands who are willing to co-create with influencers are going to see huge success from it.
Historically in influencer marketing the norm has been to work with influencers on a one-off or short term basis. However, we’re starting to see companies stray from this format and work with talent on an ongoing or long-term basis. We call this approach an always-on strategy, and it simply means that instead of hiring an influencer for a few days or weeks you’re hiring them for a longer period of time. This strategy sees companies working with talent to establish a consistent social media presence via their talent.
Knowing that it takes multiple touch points to convert a prospect into a customer, an always-on strategy will ensure that your brand is appearing in your target audiences feeds consistently and is top of mind when the purchasing decision is ready to be made. One-off campaigns simply don’t allow for this type of connection to be made with the consumer.
Building a successful always-on strategy can take some time as you search for the influencers that bring in the best ROI. But as you begin to solidify which influencers work best for your brand you will be able to grow and solidify your always-on strategy.
Podcasts will be a priority
The concept of influencer marketing and podcasts isn’t new by any means, but what is new is the desire to feel closer and more connected to our favorite influencers and talent. The creator economy is alive and well and influencers are becoming a one-stop-shop for all things content, brands, and products. Podcasts are no different, this year has seen the launch of thousands of influencer hosted podcasts, from Harry Jowsey’s Tap In w/ Harry Jowsey to Tana Mongeau’s Cancelled with Tana Mongeau, to Olivia Jade’s Conversations with Olivia Jade.
In the new year we will see this trend continue to grow, with more influencers launching and monetizing podcasts. This presents a huge opportunity for brands to build long-term partnerships with these shows and ensure that their name has a place in each and every episode. With this type of influencer marketing it is going to be key to ensure that your brand has a natural place in the talents personal brand and day to day life. Finding an influencer that aligns well with your brand and whose audience is also interested in your products is going to set you up for success in this type of influencer marketing.
This year has seen many brands introducing experiential marketing events focused on influencers. Most prominently we saw the yoga brand, Alo Yoga, host their first ever Alo House in Los Angeles, California. This week-long event dedicated to movement, wellness, mindfulness, and connection that included Diplo using sound bath bowls, the Skin Witch administering glow-up beauty treatments, and just about every influencer in the Los Angeles area in attendance. It was impossible to open Instagram over the course of that week and not see content related to the Alo House. This type of marketing combines experiential marketing with influencer marketing and allows for massive brand exposure and content creation all at once.
As we move into 2022 this trend is going to grow rapidly, we’ve already seen a number of other brands jump in and do something similar. From the Kitsch Beach House in Malibu, to Fenty Beauty’s TikTok House there is definitely a huge opportunity for brands to try this out.
2022 is going to be a huge year for influencer marketing. Whether it’s something your brand has been integrating into your marketing strategy already, or it’s something that you want to work on this year, we can help! Reach out to us at email@example.com. We look forward to it!