5 Looming Influencer Marketing Trends To Watch Out For In 2023

The influencer marketing industry is projected to be worth $32.5 billion in 2023, growing 49% more than it is now. This means that businesses will invest more into working with social media influencers in the coming years.

In 2022, although not yet over, the influencer marketing industry took a wild turn. This year content shifted more toward short video as platforms employed tools to emphasize the shift.

In an attempt to capitalize on the video trend, Instagram included more videos in its algorithm. YouTube encouraged creators to post videos by changing their algorithms and highlighting shorter content on people’s homepages; Pinterest employed a new video explore page, so did Twitter. Snapchat used stories to promote the short video sharing and the Big Man gave creators more editing tools.

5 Influencer marketing trends in 2023

1. Era of  CIO

As the number of influencers increases, content alone no longer determines whether an influencer is a good fit for your brand. To justify whether an influencer fits your business and achieve its expected result, the job of Chief Influencer Officers comes in. They can make sure that brand content is distributed only by those whose skills match their message.

These professionals will be the ones to manage influencer marketing in a business, from qualifying the potential influencers to planning out strategies for their campaigns.

They will be in charge of all influencer marketing transactions, similar to how a CDO (chief digital officer) oversees a company’s digital operations. There will likely be a CIO (Chief Influence Officer), a CKO (Chief KOL Officer), or a COLO in organizations soon (Chief Opinion Leader Officer). Regardless of the title, there will undoubtedly be a CIO trend following the CDO trend.

2. Everyone will be an influencer

Due to an increased emphasis on customer engagement and brand advocacy, companies are encouraging their employees, customers, suppliers and shareholders alike to represent them in the online space. In 2023 this will become increasingly common as businesses train workers to share details of the business on personal profiles in order showcase affiliation with brands.

Stakeholders will be extending their traditional-paid duties to include selling the brand by employing influencer marketing and using themselves as a form of content. Some businesses currently use their staff members as brand ambassadors and encourage them to submit business-related content on their personal websites as well as LinkedIn. Smart companies could repurpose their workers’ existing product-related content for use in campaigns with them.

3. More professionalism

As much as Influencer marketing can be seen more as a fad, it’s likely that by 2023 we will see an increased amount of professionalism and structure around the industry.

This will result in better-quality content, improved measurement of campaigns and a better documentation of agreement and rates. It will also lead to more efficient campaigns with less waste and redundancy and bring in more revenue for the business.

4. ROI driven influencer marketing

According to the latest research, influencer marketing that is ROI-driven will become the standard in coming years. In other words, it’s going to function as a media channel with carefully monitored and managed campaign performances—which means less brand abuse and smarter practices by all parties involved.

We will witness an influx of tools designed to help companies trace and track their own campaigns—and measure effectiveness in 2023.

5. Ineffectiveness of regular digital ads. 

Apple has blocked unpermitted use of Facebook’s user-spying technologies. Companies like Facebook and Instagram employ such techniques to learn their users’ interests and buying decisions so they can target digital ads at them.

Since Apple did the app tracking transparency feature, there has been restriction of enough data for these digital platforms for advertisement. This will make traditional digital ads very much less effective by 2023.

Influencer marketing will play a good role to replacement regular digital ads. It will help brands get right in the face of their target audience without the feeling of intrusion.

In order to maintain your marketing in 2023, YOU should include influencer marketing in your budget.

Tima is an influencer marketing company based in Lagos, Nigeria. We assist clients in finding influencers who meet their target demographic, brand voice, and niche in order to achieve your measurable objectives.

Speak to an expert for an estimate now!