Influencer Marketing: Trends to watch out for in 2021
As we enter a brand new year, we want to crystal gaze into what the year holds for us.
In today’s feature, experts from the Influencer Marketing Industry tell us a few key trends and opportunities that the industry will bring forth as we move forward in 2021.
2020 pushed businesses of various kinds and sizes to experiment with digital solutions as all activities from attending concerts, and birthday parties to fitness sessions moved from the physical realm to digital.
After the COVID-19-induced lockdown, with TVC shoots on hold and people stuck at homes, brands realised that the influencer marketing model is well-suited in a time in which the audience is looking for some inspiration, searching DIY videos, learning new recipes or focusing on self care. This posed a good opportunity for brands and influencers to engage with their audiences with impactful messaging. Brands realigned their strategies, opened up their budgets for digital media to leverage the rising demand for influencer marketing.
Today, Indian audiences are watching more online videos than ever before. Nielsen studies show that home-bound consumers have led to a 60% increase in the amount of video content watched globally. The number of live video sessions conducted on social media platforms by content creators also hiked in 2020. As per Facebook US, in the first months of the pandemic alone, the number of users watching live video increased by 50% and the platform launched additional features to support video creators.
There was also a shift in perspectives and communication tone -- driving away from superficial, in-your-face, sales-driven content to a more meaningful, two-way and purpose-driven conversation. More content creators and brands started talking about the causes they believe in.
To weather the storm of trimmed advertising budgets in the first half of the year, influencers turned to alternative revenue sources like selling merchandise or launching direct-to-consumer products. As a result, COVID has spawned strong growth in influencer marketing and creators have cemented their position boosting consumer trust in 2020.
Keeping in mind how 2020 revolutionised the digital industry, we reached out to a few influencer marketing agencies to understand what does the future hold and how is the ecosystem shaping up. Here is what they said:
Influencer Marketing: Trends to watch out for in 2021
Influencers this year have used a variety of features to promote brands. There was an increased focus on short Video content, especially Reels, as it is being heavily promoted by Instagram and is cost-effective compared to long videos, providing more authenticity and engagement. Driving brand advocacy through genuine users and exploring varied types of influencers from different walks of life also saw great engagement and growth. For example, for one of our clients in skincare, we collaborated with Face Yoga Expert, Nutritionist, Chefs, and that benefited the brand a lot.
The one trend that will grow massively in 2021 will be the rise of Micro & Nano influencers. This is mainly due to high engagement, authenticity, and low-costs and is relevant in the current scenario as most brands have slashed budgets. Apart from the trends in general for influencers, one area where it is really working is skincare and cosmetic brands. Influencers are able to display the benefits and usage of products, so in a lockdown situation, where people cannot go and try the product, they are totally buying what the influencer is saying.
Also, because of the way lifestyle e-commerce has developed, like Nykaa, Amazon, etc, to drive traffic to these platforms, you need swipe-up links through stories. Since not many brands have 10,000 followers, they are dependent on influencers to push traffic to their website and drive CTA. This trend is termed Influencer Commerce and I foresee it being one of the most demanded categories next year.
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