Influencer Marketing And How to Maximize It

Can you guess how long the average person spends on social media?

145 minutes per day. That’s over a month each year (36.75 days, to be exact!).

With people increasingly glued to their influencer marketing’s meteoric rise was inevitable.

Creator collaborations play a huge role in driving leads and sales for many businesses, especially eCommerce and retail brands. So much so that 80% of shoppers have made a purchase after an influencer recommended the product.

Like social media apps, the influencer marketing world is constantly changing. Therefore to run engaging and profitable campaigns, you’ll need to keep a keen eye on the trends shaping the industry and use them to adjust your strategy.

To help you get a head start, we’ve compiled the hottest trends set to brace 2023 and some expert tips to hit a home run with your influencer marketing strategy.

Let’s dive in.

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To set your brand up for success with creator collaborations, it’s essential to study the road ahead to create a fitting strategy. Let’s run through the most significant influencer marketing trends for 2023:

Customer acquisition costs continue to rise

Thanks to rising costs, you now need to pay more to play and even more to win in ad channels like pay-per-click. This is clearly bad news for eCommerce brands that use such marketing strategies as their bread and butter for customer acquisition.

Luckily, the influencer marketing industry is not only cost-effective but is still growing and is expected to reach $16.4 billion in 2022. Also, the vast size and variety of the influencer marketing industry can fit any budget. These characteristics make influencer marketing an excellent alternative to get more eyeballs on your products and acquire new customers.

Consumer trust in traditional ads will continue to wane

Fatigue and distrust towards traditional ad channels like celebrity endorsement is fast becoming the norm. Why? People value authenticity and trust suggestions from those they like and trust, which happens to be their friends, family, and influencers.

To put this into perspective, 70% of teens place more trust in creators than in TV personalities and celebrities. To succeed in 2023, you’ll need to pick influencers with great reputations and engaged audiences.

eCommerce platforms get involved in influencer marketing action

We aren’t the only ones who noticed the rise of influencer marketing; leading eCommerce solution providers have caught on too. Shopify and Walmart Marketplace have created influencer connection platforms to make finding and working with the right influencer simpler.

So, if the potential workload had you postponing giving influencer marketing a try, there’s never been a better time to get involved.

Learn more about how to leverage Shopify Collabs to boost your marketing.

Video promotion goes viral

With apps like TikTok, Instagram, and YouTube gaining a global reach with innovative video-led content, creators are finding new ways to bring products to life through video. From short and engaging inspirational reels to engaging and informative unboxing videos, the options for developing a strong brand and showcasing offers are plentiful.

60% of millennials are more inclined to take advice from a YouTuber than a traditional media personality. So tap into different video formats and channels to capture your target customer’s attention in 2023.

Social commerce is on the up and up

More shoppers have started to interact with social shopping opportunities, with avenues such as live shopping and social stores gaining ground fast. As a result, social commerce rakes in $89.4 billion each year worldwide. Brands that can blend their social selling initiatives with influencer marketing will fare well in 2023. Put the social selling trend to the test in 2023 with social selling features on your pages or setting up events and stores with influencers.

What are the benefits of influencer marketing for eCommerce brands?

When you’ve seen success with tried and tested marketing options like pay-per-click ads and email marketing, you may wonder whether you really need to give influencer marketing a try. But influencer is in a league of its own and is a worthwhile investment when executed correctly. Here are some benefits you can look forward to:

  • Accelerated sales: Influencer content’s viral potential allows you to turn clicks and likes into sales fast. And with the right strategy, you can produce profitable campaigns time after time.
  • Maximize your ad budget: The diverse range of influencers available means you can split your ad budget among different creators, from micro-influencers to celebrities, allowing your cash to go further. This means more cash left over for other campaigns and projects too.
  • Make your products more discoverable: 86% of shoppers flock to Instagram to find new products. Influencer marketing campaigns can explode your brand’s reach and give you more chances to convert.
  • Unearth new profitable audiences and niches: Influencers cover many niches, industries, and topics. As you work with different influencers, you can find lucrative sub-niches to scale your business.
  • Access more user-generated content (UGC): UGC is huge for winning buyers’ trust and building. Influencer marketing provides the ultimate opportunity to build a portfolio.

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How to dominate the checkout with influencer marketing?

To succeed at influencer marketing, you’ll need a realistic budget, some creativity, and a curious spirit. Once you’ve checked these off your list, it’s time to put together a winning strategy. Let’s cover some steps to take:

Choose your social media channels and influencers wisely

If you want to hit it big with influencer marketing, you must get two things right: your platform options and influencer selections.

Platforms

With 60% of shoppers taking to Instagram to find new products and 500,000 influencers on the platform, Instagram is the go-to platform for creator campaigns.

But don’t stop at Instagram. Research other platforms your target customer spends time on and test them with small campaigns. Double down on the niches, audiences, and stories that work and cull those that don’t resonate. Some social media platforms you can experiment with include:

  • TikTok
  • YouTube
  • Facebook
  • Pinterest
  • Twitter

Influencers

Who you work with will play a huge role in determining whether your influencer campaigns are a hit or miss. Some areas to ensure you and the creator are the right fit are:

  • Brand look and feel
  • Mission and beliefs
  • Audience members

Tell great stories to increase engagement

People learn and connect through stories. So, naturally, the best influencer campaign has a captivating storyline that hooks viewers in and encourages them to learn more. To craft your own scroll-stopping storylines, use your product’s unique value proposition as a guide and expand from there.

For example, say you own a vegan, celiac-friendly snack line. You could share your customers’ stories on how their quality of life has improved by having access to more delicious snacks that won’t harm their health. You could also use any charitable initiatives you’re involved with to share how your products are making a positive impact.

Repurpose influencer and UGC content into ads

Mixing influencer and customer-generated content from your campaigns into a PPC ad is a fantastic way to increase your reach. It also maximizes your influencer content utilization to help you squeeze more conversion out of them. There are many content formats you can request from customers and influencers. For best results, start with:

  • Videos (Short, Reels, and long-form)
  • Testimonials and reviews
  • Photos

Test collaborations with micro-influencers

When it comes to who makes up influencer marketing space, micro-influencers take the top spot, with their market share hitting 91% in 2021 and still growing. So, take this opportunity to find creators that match each of the customer personas you target.

You can also find micro-influencers in niches you’re eager to break into or have products launching in soon. For instance, if you have a fitness brand but hope to break into swimwear, you can find micro-influencers in these niches and test them simultaneously.

Mesh influencer marketing content into your social stores

Social stores are growing in popularity and are the perfect place to house some of your well-crafted influencer content. You can even take things up a notch by working with creators to be the cover of a collection or item in your portfolio and share the news via the influencers page to drive even more eyeballs to your social shop.

Leverage influencer marketing tools

Whether you aim to stay local or want to deliver multi-territory campaigns, there are tools available that help you find and monitor the influencer partners, store contracts and agreements organized, payouts, and more.

Examine what areas you need help with and use tech solutions to fill the gaps. Here are a few to help set up and run your first campaigns:

Make the cash register ring with influencer marketing

In 2023, a new breed of influencer marketing is coming to a screen near you. To ensure your campaigns are relevant and engaging, get up to speed on developing trends now, tweak your tactics, and start testing.

Remember, people flock to social media to engage with their network and find new and interesting things. Keep these reasons at the forefront of your mind when planning campaigns, so they feel authentic and people-centered rather than sales-y.

Finally, involve your target customer in your influencer campaigns to drive reach and engagement and make it easy for potential buyers to take the next step, whether it’s signing up for an email list or buying your products.

Soon you’ll have another profitable marketing strategy you can depend on to scale your business to new heights.

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