Wrapping it up: influencer marketing trends and stats from 2020
At the beginning of last year, we published our annual influencer marketing survey. This survey aims to better understand the trends within the industry. We surveyed brands and influencers to gauge a clearer perspective of how both groups can find success in the coming year.
Ahead of our 2021 survey, we wanted to look back at the trends from our previous report and see what changes and challenges came into fruition.
Influencer marketing trend #1: Pricing
Our report indicated that pricing was a core issue for both brands and influencers. Influencers struggled to know how much they should charge brands for their work and brands often felt that influencer fees were ‘quite high’.
Now that influencer marketing has matured as an industry, gone are the days where the fee would depend largely on the number of followers an influencer had. Now, many variables come into play and as such, brands and influencers face confusion.
Brands and influencers need to consider factors like:
- Audience data
- Brand affinity
- Quality of content
- Content usage rights
- Competitor clauses
- Celebrity status
With all this combined, in 2021, we’d like to see proper benchmarks established so that brands feel they’re paying a fair fee and influencers feel they’re remunerated fairly for their work.
Influencer marketing trend #2: Content
Our survey indicated that both brand and influencers pay considerable thought to the quality of the content produced. Influencers feel that the quality of their content should play a role in deciding the fee they’re offered. Brands feel that the content they gain from influencers should match their own brand ethos.
This trend becomes even more prevalent when brands opt for boosting influencer content with paid social. As influencer content often performs better than brand-owned content, there’s a chance for brands to make their content go further by extending its lifespan through paid social content.
Paid media budgets for influencer content helps push content further by giving brands the freedom to promote the content to an audience they see fit. Now, they’re not bound by the constraints of how many followers the influencer has and can focus on the quality of content created.
Influencer marketing trend #3: Budget
Of brands surveyed, 58% stated they planned to increase their influencer budgets in 2020. Due to the 2020 global covid pandemic, influencers saw their value increase. ZINE spoke with Vogue business about the value of influencer content.
“Brands with existing influencer partnerships have a degree of leverage and a safety net compared to those that don’t,” says Jordie Black, an influencer marketing expert with ZINE.co. “As consumers look to influencers as a voice of authority, brands who leverage these relationships will win.”
With creative studios closing and social distancing requirements in place, brands are finding it increasingly difficult to create quality content using traditional methods, Black says. As such, she believes those who will succeed during this time will be the ones who leverage influencer partners with a deep connection to their audiences that stems from years of interaction. “Smart brands will use these partners to reach customers with content that truly resonates,” Black said.
What trends are you excited for in 2021?
With 2021 just around the corner, we’re interested to hear what you think the latest trends will be?
If you’d like to take part in our survey, please do so here:
If you’d like to comment on any of the trends here or would like to speak to a member of our team about how you can utilise these strategies within your own influencer campaigns, get in touch.