Influencer marketing has been on the rise for many years now. It is also suspected to continue to grow at a great rate over the next few years. Most companies must give some thought to if their marketing strategy should incorporate influencers or not. Most creators with large followings have created a community with their fans. These communities have also created a trust between creators and fans. This makes creators very valuable to brands as third-party advocates. Brands see that having someone to promote your product or service can be a great investment. It can provide better brand advocacy, awareness, and new audiences.
Influencers can also bring trust and credibility to a brand. This is their most sacred asset. Without it they can lose their value to companies and their fans. Young consumers today want to see creators that are genuine. It is important to young consumers that the people they follow and listen to are not just promoting a brand so that they can get paid. Consumers want to be able to trust the opinions of creators.
Unfortunately for influencers, consumers seem to be losing trust. The power of influencers may be declining. Consumers in the Gen Z age group have shifted away from looking for influencers’ recommendations to other peers in their online communities. It is still a form of third-party advocacy, but it is more humanizing than listening to someone with millions of followers getting paid to promote a brand. Consumers want to be able to trust and relate to those that give recommendations, and this can now be found in online communities instead. Access to different communities has never been easier. Consumers find great information on comment sections of YouTube, TikTok, Reddit, and Twitch.
Influencer marketing may also come to an end in the future because it can often times be hard to get consumers to act on a recommendation or review. Consumers are constantly online and looking for content to consumer, but that does not mean they will act on what they see. Not every consumer will go out to purchase a new product when they see an influencer giving a good review.
Marketers need to find new ways to incorporate strategies that target these different communities and changing opinions. There may need to be a better focus on making the brand a part of some of these online communities to gain a trust of their own. Brands also need to understand what kind of influencer is right for them and if their following will be inclined to purchase based off a review by them.
Hoos, B. (2021, July 19). The Key Weakness That Could Lead To The Fall Of Influencer Marketing. Retrieved from Forbes: https://www.forbes.com/sites/forbesagencycouncil/2021/07/19/the-key-weakness-that-could-lead-to-the-fall-of-influencer-marketing/?sh=104c7f395c8c
Murch, R. (2022, June 2). Influencer Marketing Is Dead, Long Live the ‘Commun-Economy’. Retrieved from Rolling Stone: https://www.rollingstone.com/culture-council/articles/influencer-marketing-is-dead-long-live-commune-economy-1361623/