Back To The Future!
The million dollar question that everybody asks; Is influencer marketing dying? Here’s the simple answer first? Not really. Of course, this doesn’t stop of having a fierce controversy about the future of Influencer Marketing!
Actually, this is like having a deja vu because, every time a new marketing tecnique becomes popular and dominant, sector professionals, marketers and researchers start to wait for its peak and downfall. There has been many similar examples with Facebook marketing, email marketing and many others.
In recent years with the climax of social media, influencer marketing literally exploded but this doesn’t mean that the end is near! In fact, in the last three years, the number of Google searches for ‘influencer marketing’ has increased by 1500%. Of course, this is the proof that the future of influencer marketing is bright with opportunities. At the same time influencer marketing landscape has changed rapidly and tremendously.
Besides that it has a staying power relied on two reasons:
* Data shows that influencer marketing is still providing marketers with a strong return on investment. Influencer marketing generates $6.50 for every dollar a company invests.
Approximately 70% of companies earn $2 or more for every dollar, and 13% of companies earn $20 or more.
*Projections show that marketers will spend $2.38 billion on influencer marketing on Instagram in 2019. That’s more than a $700 million increase from 2018!
So, what is the problem then?
To be honest, the problem is hidden on measuring the ROI. This is the top challenge and the reason of all questioning and debate. It can be hard to improve marketing strategy for brands without having some way to measure it or even know that if it’s working. 76% of marketers agree that one of the hardest obstacles of influencer marketing is measuring the ROI.
But there is a big ‘but’ here; because the opportuniy of observing, measuring and analyzing consumers through influencer marketing give marketers a very special privilege. So, brands by knowing that need to adapt to the changing trends and strategies to stay relevant in the influencer marketing industry. Because, the only thing that matters now will matter in the future too.