How is COVID-19 Affecting Influencer Marketing?
COVID-19 has had an undeniable impact on many industries, including influencer marketing. For those of you who don’t know, ‘influencer marketing’ is similar to celebrity endorsement in that it involves brands working with people who have the power to sway purchasing decisions because of their authority in the online sphere. They are not celebrities in the traditional sense, but they have built up a big enough audience to be seen as influential.
So, how has the pandemic affected this type of marketing?
Increased Engagement
Since people cannot socialise in real life, they are spending far longer on social media and technology in general. Experts expect screen time to continue increasing in weeks to come. This means that influencers are recognising a greater level of engagement from their followers who are seeking familiarity on their social feeds.
This provides a fantastic opportunity for brands who are unsure of how to tackle the situation at hand. If working with online influencers isn’t a suitable option for your company, you should at least try and work on your own social presence. The trick is to be hyper-sensitive to what’s going on in the world around us, as people are more likely to engage with posts that are raw and authentic, rather than ignorant of the circumstances.
Budget Cuts
While engagement has improved for influencers, unfortunately COVID-19 has resulted in some negative changes. Companies are paying closer attention to their outgoings and, in many cases, they are cutting back on costs. This means that influencers are having to reduce their rates to stay in-line with budget cuts and continue getting business.
Reduced Travel
Many influencers rely heavily on travel for their campaigns and with a lockdown in place, fulfilling the brief has become a challenge. In lots of cases, influencer campaigns have been cancelled. This means that influencers are having to find more creative solutions to ensure they are still able to provide a service.
