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In just a few years, influencer marketing has gone from an ancillary expense in many brands’ online marketing budgets to its very own digital advertising category.
As we look forward to 2018, the influencer marketing space is expected to broaden its scope, extend its reach, and strengthen its impact. While the growing landscape brings with it many exciting opportunities, new challenges will also arise.
With marketers looking to measure ROI, not to mention the changes in federal regulations, the emergence of fake influencers and more, the coming year looks to have big implications for both influencers and the brands that partner with them.
1. Influencer marketing continues its meteoric rise.
There is no shortage of success stories in influencer marketing, yet some businesses are only now realizing what they’ve been missing out on.
While there was a 90-fold increase in Google searches for the term “influencer marketing” from 2013 to 2016, interest around the topic has doubled in the first nine months of 2017. During the same time, searches for “Instagram influencer” have more than tripled.
The reasons for the growing interest are many, but a key principle underlies all: Influencer marketing is working for all types of brands.
Consistent with year-over-year estimates, businesses are expected to allocate more money toward influencer marketing in 2018.
As the influencer marketplace gets more saturated, however, brands without a clearly defined strategy will find it difficult to break through. Looking at ways to maximize the impact of campaigns, as well as differentiating themselves from their competition, will