HypeAuditor Predicts Brands Will Continue To Invest In Influencer Marketing In 2023
Despite the economic slowdown and reviewed marketing budgets, brands are still expected to continue to invest in influencer marketing.
While overall marketing budgets may be revised downward, brands are likely to invest more in their partnerships with influencers to reduce their overall marketing costs.
The reason is that influencer content is the cheapest form of branded content. HypeAuditor outlines the Top 4 predictions for the Influencer Marketing sector for 2023.
1. The evolution of the influencer marketing industry and what the economic slowdown means for the sector
Against the backdrop of a looming global recession and skyrocketing costs of living, HypeAuditors predicts there will be a greater focus on influencer marketing, and brands will increasingly move their activities with influencers in-house.
Instead of focusing solely on one-off sponsored posts, as this has often been the case over the years, marketers will be encouraged to put their influencer marketing strategy at the centre of their overall objectives. There are multiple reasons for this but essentially, it comes down to ensuring the success of influencer marketing campaigns.
2. The future of influencers and why Gaming Influencers are gaining momentum
Gaming influencers are a rapidly growing segment of influencers, globally, with a large audience on most social media platforms. They can range from skilled players who stream their gameplaying to millions of fans to professional video game players who compete in the up-and-coming esports space.
Gaming influencers are more accessible than they may seem at first glance. Their fans not only follow them for their high-level video game skills, but also for the tight-knit sense of community they have built both with the influencer and fellow fans.
One example is Markiplier, a gaming influencer who has racked up almost 30 million followers. Markiplier’s popularity results from his funny commentary while playing horror video games, keeping his large audience entertained.
Other popular Twitchers include Ninja, who, despite being followed by only 11 000 followers, streams can gather up to 18.4 million views, each time.
This phenomenon is also encouraged by the legitimacy esports has gained, is valued at 1.38 billion dollars in 2022.
Overall, it is estimated to grow by at least another billion by 2025. Thanks to funds from advertising and sponsorships, prize money at national and international competitions has become significant. For example, the International 10 hosted by Valve, offered $40 million in pooled prize money.
Marketers will increasingly prioritise partnerships with Gaming influencers, even if no obvious direct ties to the gaming community exist. While the gamers’ main platform might be Twitch or a similar streaming service, they often have a following on other social media platforms, such as Instagram.
For instance, Samsung, Red Bull, and even Hershey are some of the brands that already have partnerships with Ninja, a top gaming streamer on Twitch. In 2023, more brands are expected to follow this path.
3. Instagram and TikTok will remain the leading platforms for brands when it comes to Influencer Marketing
Instagram’s reputation remains undisputed when it comes to influencer marketing. It continues to offer brands the most potential for their influencer marketing strategy.
However, competition remains sharp with the ever-growing popularity of TikTok among Generation Z. According to a recent analysis, 40 per cent of those aged between 18-24 prefer to use TikTok, instead of Google, for their online searches.
The reason for the platform’s continuing hype is the many opportunities for influencers and users to express themselves creatively.
Marketers already understood, a long time ago, the potential of these two platforms to authentically connect with their target audiences.
However, in the next year, they will increasingly adapt and diversify their marketing strategy to the specifics of these two platforms, to fully reap the benefits they offer.
On Instagram, for example, the number of followers an influencer has remained a key metric to evaluate their popularity. However, brands need to continue to be mindful of bots and inauthentic accounts before agreeing to any partnerships.
According to our data, only 60 per cent of accounts on Instagram are estimated to be owned by real people.
Short-format videos are the most successful on this platform as they effectively catch the short attention spans of audiences across all demographics.
TikTok ticks differently: on this platform, marketers should prioritise creative and entertainment content to generate the most engagement. The focus is more on the content rather than the influencer. “Authenticity” is in the foreground at TikTok, which is why nano- and micro-influencers are increasingly taking the reins.
4. Live shopping will continue to gain popularity
Recently, live shopping has gained momentum, turning into a real asset for retailers thanks to the unique experience it provides to consumers.
HypeAuditor expects retailers to increasingly prioritise live shopping in the year ahead, however they will face the challenges to adapt to the likes of Instagram and TikTok to attract shoppers on these platforms for shopping, while also providing them with a great experience throughout their purchase journey.
Among the hurdles retailers will face, we can mention the necessity to provide a seamless omnichannel experience and adaptability of traditional retail features on social media platforms. TikTok and Instagram do provide good creation tools that retailers can rely on, but they also need to ensure an optimised integration with their own websites.
Another key point: it’s great to attract new customers in addition to the ones already retained in their website, but this also means retailers will need to be able to handle the increase (sometimes quite substantial) in the number of users and generated orders. Scalability needs to be at the heart of their live shopping strategy.
Finally, companies will also need to make internal adjustments in terms of how they work transversally with their colleagues: sales teams will need to be even more integrated with marketing teams in order to ensure the success of their live shopping strategy.
If retailers manage to achieve all this, live shopping is bound to turn into a major source of revenue for them in 2023.
Indeed, with consumers increasingly tightening their belts to face higher costs of living, marketers will need to ensure that their collaborations with influencers remain relevant to them. However, aspirational content from influencers is likely to continue to attract a wide audience on social media.
Indeed, according to HypeAuditor’s data, lifestyle-related posts, for instance, tend to attract the most engagement from users in terms of likes and comments on Instagram.
The engagement rate for this category is higher than average. Despite the bleak economic context, consumers are, in fact, more likely to welcome sponsored posts for temporary escapism, offering an excellent opportunity for brands to connect with their audiences.
Please login with linkedin to comment
HypeAuditorLatest News
Kantar: AVOD Subscribers Double In 12 Months
Study finds Aussies happy to watch ads on their streaming services. Or, are they just putting the kettle on more often?
Val Morgan Digital Exceeds All Campaign Uplift Benchmarks Via A 12-Month Brand Metrics Study
Val Morgan announces it has exceeded all its campaign benchmarks. Still can't get under an hour for the City To Surf.
Australian Retirement Trust launches monster of a campaign, by M&C Saatchi and Bohemia
Get offered a seat on the bus today? Knees creak like an old pirate's galleon? This retirement ad may be of interest.
Print Audits To Discontinue As Audited Media Association Of Australia Pivots To Support Influencer Marketing
Is it just B&T or are audits in the media industry suddenly becoming murkier than Roxy's husband's tax returns?
News Corp Australia Launches 2024 National Education Advocacy Initiative With Expanded Program
News Corp set to shine a light on the nation's schools in new series, giving illegal bikie gangs a well-earned rest.
Decoding The Consumer Maze: Urban List Report Reveals How Modern Shoppers Spiral From Discovery To Purchase
Latest report unravels a shopper's journey from the joy of discovery through to a nasty letter from a debt collector.
Cosmo Returns To Australia!
Ever get the feeling we've weirdly warped back to 1988 at the moment? Confirm it with the relaunch of Cosmo in print.
People & Culture Consultancy Human Kind Collective Launches To Plug HR Gap For Media Agencies
Does the very mention of HR have you struggling to remember last year's Christmas party? Get the sweats with this news.
‘We Want To Be A Growth Partner, Not Just A Media Buyer Or Someone That Makes Ads’ – Bohemia Boss On Agency’s Ambition
B&T's chatting with Bohemia boss Paul ‘Hutch’ Hutchison. Although we do think 'the dagger' a far superior nickname.
Initiative’s Geoff Clarke: ‘Youth Hits Targets With Enthusiasm, Experience Hits The Targets You Can’t See’
Initiative’s CCO Geoff Clarke on the value of experience in agencies. Not to mention quoting lines from Pulp Fiction.
The Iconic Teams Up With 5 Aussie Athletes For Latest Campaign
Fashion label brings in the athletes for new campaign, many of whom appear to have prepped with re-runs of Zoolander.
Seven West Media Secures New Director Of News & Current Affairs
After a tumultuous few weeks, Seven unveils director of news & current affairs. And B&T never uses tumultuous lightly.
Seven Network Expands NSW Sales Team With Two New Group Business Directors
Seven ramps up its NSW sales team. Both of whom are well versed in pronouncing Manu Feildel's croque-monsieur.
New PR Subscription Changing The Game For Aussie Start Ups
Need better PR? You can now buy it via a monthly subscription. Price does not include a fascinator or Moet piccolos.
Paul Kent At Centre Of Fresh Scandal After Alleged Street Brawl
Do you long for the fights, gouges & testicle grabs of footy's glory years? So too, it appears, does Paul Kent.
DiDi Taps Disney’s Tim Farmer For Head Of Brand Marketing Role
Disney's Tim Farmer shifts over to rideshare company DiDi. Taking with him his Donald Duck coffee mug & mouse ears.
As Sure As Night Becomes Day, The End Of Third-Party Cookies Has Been Delayed
The question remains: what will we see first? The end of cookies, alien invasion or Jesus's second coming?
Fast 10: Scoundrel’s Tim Bullock Explains What Shane Warne & Salt-N-Pepa Have In Common
It's a Fast 10 with Scoundrel's Tim Bullock. Make it sound even faster by sucking on helium while reading it.
Outbrain Snatches Chris Oxley From Foxtel Media
Foxtel's Chris Oxley shifts over to Outbrain, but not before having his press photo taken in the wilds of the Daintree.
oOh!media & POLY Partner With Greening Australia For OOH Awareness Campaign
Like to quell the road rage with super cute pics of fluffy marsupials? This outdoor's just the ticket.
Are Media Cares For The Carers In Its Latest Social Change Campaign
Are Media calls on the government to add super payments to carers' payments. Remains silent on AUKUS, however.
In A Fragmented World, Engagement Is King
Today, B&T TV's talking fragmentation & engagement. But not in a down-on-one-knee sense of the word.
Kyle Sandilands On Advertising: “We Want Return Business. It’s No Good Just Taking Someone’s Money”
Kyle & Jackie O finally arrive on Melbourne radio. As yet, no sign of the monotonous and bitter AFL-NRL debate.
Sydney Comedy Festival: Taking The City & Social Media By Storm
Sydney Comedy Festival 2024 is live and ready to rumble, showing the best of international and homegrown talent at a host of venues around town. As usual, it’s hot on the heels of its big sister, the giant that is the Melbourne International Comedy Festival, picking up some acts as they continue on their own […]
Global Marketers Descend For AANA’s RESET For Growth
The Australian Association of National Advertisers (AANA) has announced the final epic lineup of local and global marketing powerhouses for RESET for Growth 2024. Lead image: Josh Faulks, chief executive officer, AANA Back in 2000, a woman with no business experience opened her first juice bar in Adelaide. The idea was brilliantly simple: make healthy […]
Is Meta’s New AI Chatbot Too Left-Wing?
Meta's chatbot accused of being left-wing after being caught wearing a Che Guevara T-shirt & listening to Billy Bragg.
TV Ratings (23/04/2024): Why Did No One Tell Angela That Farmer Wants A Wife Is Set On A Farm?
As wonderful as this headline is, let's face it, we all know an 'Angela', don't we?
PubMatic Unveils New AI Partnership To Turn Social Posts Into Ads For Any Digital Channel
Here's some nifty tech for turning social posts into ads. Assuming said posts aren't one-star character assassinations.
Intuit Mailchimp Makes A Splash With Its First Australian Brand Campaign
Ever laugh along at a gag you didn't get so as not to appear dumb? Get ready for more feigning with this new work.
GumGum’s Rob Hall: Advertisers Can No Longer “Rely On Binary Descriptions” Of Consumers
If anyone's got their finger on adtech's pulse, it's Rob Hall. He also avoids using the good paper in the office printer
Mastercard Nabs Florencia Aimo From Marriott International
Marriott International's Florencia Aimo jumps from the hotel business to the exploitative credit card one.
Bastion Agency Appoints Cheuk Chiang As New ANZ CEO
Cheuk Chiang takes the reins over at Bastion Agency. But not the rains down in Africa.
Spotlight On Sponsors: Major Sponsorship Wins After A Disappointing Week In Sport
B&T continuing our deep dive into local sport sponsorships & that's despite not a single offer of a free ticket as yet.
Macca’s Marketing Director, Samantha McLeod On Big Mac Chant: “What Was Once Old Is Now Cool Again”
Macca's using the power of nostalgia in latest Big Mac campaign. Well, only for those who've ever eaten one sober.
World Premiere Of Midnight Oil: The Hardest Line To Open Sydney Film Festival 2024
Oil's biopic to open Sydney Film Festival. Here's hoping Molly Meldrum will take his pants down at the premiere.
Entries Are Now Open For The 2024 Brandies, IntelligenceBank’s Annual Brand Marketing Awards
The Brandies are, of course, a prestigious marketing gong and not the mystery tipple favoured by nannas everywhere.