The world is no more the same place than it was a year ago as the Covid-19 Pandemic completed its first year. Extensive researches are in the process to control the pandemic but we still don’t have any end date for it. Covid-19 completely changed the way businesses function and, the digital marketing industry was also heavily influenced by it in diverse ways. Influencer marketing is one of the most emerging forms of marketing on social media platforms and was also not immune to this. In this blog, we will talk about the effects of the ongoing pandemic on industry trends and the required shift in Influencer marketing strategies to thrive in the post-Covid world.
Is Covid-19 Pandemic An Opportunity or Threat For Influencer Marketing?
The influencer marketing industry was worth $8 billion in 2019.The popularity & worth was increasing exponentially, but when the pandemic hit the world, the global economy was on the verge of collapsing. Businesses have to reduce their advertising costs to manage their finances. Brands have a limited budget to spend on advertising campaigns but the demand for influencer marketing didn’t drop completely.
Due to the lockdown conditions and working from home strategy to control the pandemic, global consumers were forced to stay at home for extended periods. They were spending a lot more time on social media platforms. The engagement with influencers and content creators was also increased therefore brands were more interested to leverage influencer marketing to capture the online market, improve their audience reach, and generate higher ROI.
The fact that conventional marketing methods are expensive and now have inadequate reach is out in the open. Brands were already turning to social media marketing due to its enormous influence, scalability, and cost-effectiveness. Due to a hike in the popularity of influencer marketing during the pandemic and the restrictions in the advertisement budgets, brands are seeking refuge in influencer marketing.
Large scale advertisements are not only challenging to produce but also require a huge sum of money. Influencers and content creators are creative people with whom the public connects on a deeper level and they can brainstorm new ideas to promote a brand in a budget-friendly way. This is the potential of influencer marketing. Highly engaging and interactive content can be produced quickly, within a limited budget and the reach is already great.
Tips To Update Your Influencer Marketing During The Covid-19 Pandemic
The Lockdown conditions are driving more consumers to social media platforms but creating content that caters to their needs, fits the brand’s budget, aligns with the brand’s message/values, and generates profits is crucial to outshine in the online world in the Covid-19 age. We have jotted down some essential tips that may come in handy to retool the influencer marketing to generate revenue ,connect with the targeted audience and keep their interest intact.
● Impactful Content in The Right Tone:
Brands and their influencers can take great advantage of the current conditions to connect with their audience through engaging and thoughtful content as they are consuming more content during Covid-19 pandemic. The content must be thoroughly monitored because the consumers are way more vigilant about everything during these tough times. Empathy always goes a long way. The visual content and messages should be inspiring and focused on creating hope among the audience. Find the correct tone and communicate your message in an authentic, empathetic, and tasteful way.
● Spread Authentic Information:
Consumers are bombarded with new information about the Coronavirus every single day. Before jumping on the bandwagon, always be sure the news and information your brand influencers are sharing are backed by trustworthy sources. Only quote authentic information from trusted sources like WHO and CDC to save yourselves from the embarrassment when the consumers start pointing out the inaccuracies in the content.
● Leverage Video Content:
The influencer marketing industry is dynamic, and the trends are changing frequently. The popularity of video content is skyrocketing in recent times. No one wants to consume boring, monotonous content on the already dull lockdown days. Video content has many layers and provides a great opportunity to deliver the content in the most creative, appealing, and impactful way. Nothing can go wrong with entertaining video content created by a suitable influencer and spread it on the correct platform. Tiktok & Instagram are the leading choice of marketers to post video content these days.
● Give Covid News A Break:
All we see and hear these days on the internet has something to do with Covid-19. Communicating essential information is necessary, but your influencer marketing strategy & content should not only focus on covid-19 reporting. Entertain your audience and spread positivity with a regulated dose of the pandemic news.
● Invest in Technology & Analytic Tools:
Influencer Marketing has become a primary marketing strategy in the Covid world. Influencers are now the face of brands in the digital world but, it’s vital to guide them with accurate data to determine the performance of their campaigns. To measure the ROI, engagement rate, and outcomes of influencer marketing, utilize the analytics tools available. Many SaaS platforms are providing comprehensive data and information so leverage them to make necessary changes in the strategies to enhance the efficiency of your influencer marketing campaigns.
We all want this pandemic to end but, adapting to this new normal is the only way out. The Influencer Marketing Industry is disrupted by the pandemic but it hasn’t lost its unique significance to spread brand awareness & generating sales. Learn more about changes in the industry and adjust accordingly. Since the influencer marketing industry functions online, the previous trends might have accelerated but a seismic shift is not observed. Stick to your core and only trim your strategies as per the demands of this post-covid world.