The Influencer Evolution

There will be approximately 4.8 billion social media users by the end of 2023 (Source: Hootsuite), and influencer marketing is still trending upwards in response to this growth. As we head into a possible recession and rising inflation costs, brands will likely spend more wisely in 2023. However, influencer marketing will remain an important channel in the coming months.

Influencers have gone from being an audience for brands to instrumental members of the creative process. Initially, consumers would turn to influencers as trusted sources to vet a product; however, this method is quickly becoming outdated. Oversaturation, heightened competition, consumers seeking out authenticity, and a shared desire among brands for virality in exchange for sales means the Influencer Marketing Model, is becoming more challenging to get right.

One thing is for certain, the influencer marketing space will only become more crowded as the years go on. Here are five insights that will continue to shape influencer marketing in 2023:

Influencer Housing
The insight Influencer Housing highlights actual houses (often branded or sponsored mansions) where TikTok influencers live together and create videos for social media. Brands are leveraging these spaces to collaborate with groups. These houses continue to remain popular as brands look for ways to harness the impact of these influencers and the purchasing power of their followers.

Streetwear Experience
The insight Streetwear Experience examines the digital stay-at-home habits of many young Millennial and Gen Z alongside their love of streetwear. It is becoming more common for streetwear brands and communities to show their work virtually, including avatars wearing popular streetwear designs in popular games.

Co-Created Influencer
The insight Co-Created Influencer explores how brands are working in tangent with influencers to create new products and collections. Using social media influencers as co-creators, brands can ensure the influencer is invested in the long-term success of their products.

Dance Marketing
The Insight Dance marketing showcases how popular TikTok dances have dominated social media and marketing spaces. Brands are enlisting influencers to help create dance trends to engage with TikTok users. Many Gen Z and Millennial consumers identify better with brands that participate in their day-to-day life, including engaging in viral dances and content creation.

Takeaways
Brands will continue to look to influencers as an effective tool within the greater marketing mix. What will become more important, however, is working with the right influencers and prioritizing transparency as a key factor in creating genuine content and successful collaborations. The future of influencer marketing is not only approaching quickly, but it will be a foundational piece of content creation and discovery moving forward.

For more on the Reinvention of the Influencer, check out Trend Hunter’s 2023 Trend Report.