If you are in the social media or digital marketing space, you’ve likely heard of influencer marketing and its usefulness as part of a marketing campaign. However, you may wonder if it’s still effective in 2023 or about the future of influencer marketing. This article will provide all the details about the effectiveness of influencer marketing, its future, and which social media platforms are most effective.
Although it is evolving, influencer marketing is effective in 2023. Influencer marketing is effective because it speaks to a target audience differently than a traditional advertisement. Many consumers trust the opinions of influencers, especially consumers of younger generations, such as millennials and gen z. Research from Musefind has shown that 92% of millennials trust a social media influencer more than traditional advertisements or celebrity endorsements. The trust and relationships influencers build with their audiences lead to more effective brand promotions.
Influencer marketing campaigns can boost product and service sales significantly. Research from Twitter has shown that influencer tweets promoting a brand nearly double a user’s purchase intent compared to promotional tweets from the brand itself. This shows how much influencers can affect the purchasing and decision-making process for consumers.
Influencer marketing is on the rise. More brands are starting to put funding into influencer marketing campaigns. It is estimated that influencer marketing is a 16.4 billion dollar industry. That number is projected to increase exponentially by the end of 2023. With the popularity of social media and so much monetary value in the influencer space, it’s safe to say that influencer marketing will be a relevant marketing strategy for the foreseeable future.
Influencer marketing is not going anywhere in 2023 and beyond. However, in the ever-changing social media space, staying up to date with the latest trends is essential, so your influencer marketing campaigns remain effective. Influencer marketing trends that will be important going into the future are:
Following the latest influencer marketing trends will help you continue to see success. Lionize’s influencer marketing software can also help you stay on top of what is most successful in today’s influencer space. Our artificial intelligence software is up to date with the latest performance metrics and influencer marketing best practices to help you set up your campaigns for success.
There is no right or wrong social media platform for influencers or brands to target for influencer marketing. The most popular social media platforms for influencers are:
Choosing the right social media platform will depend on your niche and type of content you want to create. Knowing how each platform can be used successfully will help with this decision. Creating content across all relevant social platforms is also a great strategy to widen your reach.
Influencer marketing is effective in 2023. It’s a marketing strategy on the rise, and its growth isn’t expected to slow down anytime soon. If you’re interested in influencer marketing, now is a great time to start.
If you would like additional help setting up your influencer campaign, connecting with influencers, and tracking performance metrics, Lionize can help. Our easy-to-use platform will help you every step of the way to ensure your campaign is a success.
Contact Lionize today to get started!