A question many marketing departments are asking themselves, now more than ever is how do we maximize our budget while still achieving both our goals and KPIs? With spends shrinking, and in some instances working with a reduced head count, much of the focus has transitioned to efficiency — meaning, what marketing tactic really moves the needle in the most cost-efficient way possible?

Since COVID hit, there’s been a seismic shift in the digital world. With people forced to be home it meant more screen time — more phone scrolling, more online shopping, more TV watching. So, with many brands shifting their focus to digital tactics, where does this leave influencer marketing? Is influencer marketing still a potent strategy and sound investment to make?

Here’s what I think after watching some shifts across the influencer marketing landscape over the last 6-months.

An example of this would be tourism. Travel influencers were amongst some of the most popular and highest paid influencers in recent years. It’s a pretty great gig to be travelling the globe, showcasing hotels and restaurants in some of the trendiest travel destinations in the world. However, tourism has been put on pause, and many, if not all, tourism boards have been forced to re-examine their marketing strategy for 2020 and beyond. For example, Destination Canada partnered with the provinces and territories providing $30-million to support the recovery of communities. Canadians have been encouraged to discover their own country safely during COVID, rather than jet setting to their next bucket list destination. Budget is being spent on keeping Canadians safe, working with government authorities, and supporting communities that have relied on tourism to support their economy. Influencer marketing wouldn’t be a safe, ethical move for tourism boards or related industries to embark on – now or in the immediate future.

Influencers are nimble and more versatile with their capabilities and offerings. How can your brand tap into this? As much as brands have been forced to adapt to new customer expectations, influencers have had to make changes as well. Sponsored content has been the primary stream of income for many influencers; however, with brands cutting campaigns, influencers have had to figure out alternate revenue streams. What are these alternates? Merchandise sales and e-commerce affiliate programs have risen in popularity amongst influencers. There’s also been a shift in the platforms they’re active on. 2020 has been a big year for TikTok, and many content creators have flocked to the new platform – generating revenue from other partnerships and brands they may have not connected with prior to COVID. Does your brand have an opportunity to benefit from these new arenas influencers are playing in? ‍

Influencer marketing isn’t just about sending your product or service to someone with a decent following on a social platform and calling it a day. We know that doesn’t move the needle, nor produce sustainable results. What influencer marketing is, pertains directly to micro-targeting your audience through an influencer; or, a content creator that has a genuine connection with their followers. Successful influencers work hard at being authentic — gaining the trust of their followers is of the utmost importance. When the time comes that they’re recommending products, or speaking about an experience with a brand, their followers are invested in what they’re saying – making them that much more likely to follow the advice or recommendation given by that influencer.

That’s where your brand comes in — does it make sense to engage your audience through an influencer? Not every brand or product fits into an influencer marketing model. That’s where our team comes in – to help you navigate influencer marketing and understand if it is the right avenue to achieve your desired results. Drop us a line to schedule a call with our team of experts, and, we’ll get you on the right track!