The Best Time to Invest in Influencer Marketing is Now
Coronavirus has brought the marketing industry to a halt. Productions have been postponed or cancelled and Marketing budgets have been slashed. The traditional way of doing things no longer works, which means that this is the perfect time to invest in influencer marketing.
In terms of ROI, influencer engagement performs much better than most brand content. Brand videos on Facebook have an average watch time of 4.57 seconds, while influencers get tens of minutes. Influencers are also more trusted than celebrities or athletes among Gen Z and Millennials. Under normal circumstances, these are some great reasons to work with influencers. Given today’s landscape, here are a few more.
Influencers are still creating
Few productions are happening given the ban on large gatherings. But, clients still have needs. Influencers make for a great solution since they have the skills needed to create professional and engaging content.
Influencers are inexpensive
Brands and agencies are being very conservative in these times, as they should. Influencers are feeling the impact as well, with most campaigns being delayed or cancelled. A recent study shows that influencer rates are to fall by 25 percent.Meaning working with influencers will be more affordable than ever.
Influencer engagement is skyrocketing
As influencer’s prices are decreasing, their engagement is growing. With most of the world forced indoors, Facebook and Instagram saw a 50% percent increase in live streams and YouTube views have increased by 63%. Influencers are also seeing as much as a 76% increase in likes on their sponsored Instagram posts.
During these times, advertisers and agencies are looking to create things fast and cheaply. Influencers are a great way to accomplish both of those goals. More now than ever, is the time to invest in them.