State of Influencer Marketing 2021: 3 Key Findings from the Klear Report
Klear, a top influencer marketing platform, recently released their Influencer Marketing Report, chocked full of the most important lessons and data-driven trends they uncovered during 2020.
It comprises the results of surveying more than 5,000 influencers from across the leading social networks as well as statistical analysis trends and demographics from their SIGR Award-Winning Influencer Measurement Technology. And friends, it’s a long report. So, I broke down the main findings for you right here.
Key Findings From the Klear Report
2020’s effects permeated every part of our lives. From the COVID pandemic and lockdowns to the nation’s political and civil unrest, the changes in people’s mindsets and behaviors also spilled into influencer marketing campaigns. Based on influencer surveys and statistical analysis, here were some of the key findings:
Sponsored collaboration impact increased by 57%
Tik Tok collaborations increased 130%
80% of brands are likely to engage in social activism
Gen Z’s influencer market share increased by 9%
Even with the slashed marketing budgets of 2020, influencer marketing gained more ground as a tactic that marketers can’t ignore. This year gave rise to the explosion that was TikTok marketing, as Generation Z positioned themselves as some of the savviest online influencers.
And after the effects of the pandemic and wave of racial justice outcries, brands must not only raise awareness but take true corporate social responsibility through every aspect of their companies, and this includes working with influencers and utilizing content that reflects the brand’s values and those of their audiences.
Marketing Implications Moving Into 2021: Three Trends
Three trends emerged as the top trends going into 2021: increased partnerships with creators/influencers, marketing to Gen Z, and raising voice to support social causes through marketing.
1. Partnerships With Creators/Influencers Become Important
As influencers are becoming savvier about what creates engagement, they will start working closer with brands as a critical part of the marketing process. Businesses will need to consider investing in influencer marketing to engage target audiences with video content.
At their core, influencers are content creators first, and they know what their audiences love. That means brands must trust influencers to create content to engage their followers while still supporting the brand.
If brands want to increase their return-on-investment, they will need to lean on influencers for their knowledge to produce content that speaks directly to their followers.
Brands will be looking to reduce marketing costs while increasing the longevity of promoted content. As a result of influencers knowing their audiences, brands should enjoy better engagement than other marketing strategies.
2. Gen Z: Digital Natives Are Ready for Their Moment
Brands seemed to understand the power of Generation Z in 2020. As a result, these digital natives enjoyed a 9% increase in influencer marketing. (Want a longer read on their impact? One of my clients broke down the TikTok Gen Z effect here.)
What’s the reason for the hype about Generation Z? For starters, they make up 40% of all customers. Not only that, Gen Z is the hottest demographic for influencers online. They’re also the most expensive for marketers.
Generation Z influencers dominated the TikTok explosion, where video content reigned supreme. These young influencers will be a significant force in a brand’s decision to market through video to different audiences. Since most Gen Z influencers usually navigate more than one platform, like Instagram and TikTok, they will be in a great position to grow their influencer dominance in 2021.
Generation Z shoppers rely heavily on their Gen Z influencers for purchase decisions, making them essential to marketers targeting this demographic.
3. Brands Will Become More Vocal About Social Causes
No doubt about it, 2020 changed the landscape for brands. As the pandemic raged and people were on lockdown, their whole attitude towards consumption changed. Everything went online. Brands had to adjust to meet this new demand, and that wasn’t all.
The political and social landscape was bubbling over, and people were expressing their positions online. Brands that once enjoyed political and social ambiguity quickly realized that consumers wanted to align with businesses that supported their causes and were more transparent about it, which represented a paradigm shift for many brands.
Heading into 2021, brands must shed their vulnerabilities and amplify their voices about the social causes they support. Now more than ever, consumers want to feel connected to their favorite brands, and that includes social issues. In fact, Gartner research says that diversity now tops the list of consumer values.
Many consumers also shifted their focus from sales-focused to values-driven shopping. With shopping moving online, people can get products anywhere.
Brands that can ensure authenticity and reach their target audience with influencers who inspire their favorite causes will no doubt be in a position to grow their brand to new heights in 2021. If anything can be purchased online, how do brands stand out? The way their brand makes consumers feel.
Influencer Marketing Is Changing the Game (Again, or Still?)
Last year was disruptive. Business and people experienced their first full lockdowns. COVID spread in ways no one could fathom, and in the midst of it all, people marched for social justice and equality. If that wasn’t enough, we voted with our hearts at the ballot box during a highly contested election only to fear for our democracy.
This year was unchartered territory, for sure. And influencer marketing proved its value as it helped businesses build their brands while the world was shut indoors. The simultaneous rise of Gen Z and their purchasing power changed the way marketers engaged their audiences, and the voices of Americans forced brands to face their social conscience.
There is now a return to “normal”. And the new normal? I think the new normal means we will normalize disruption.
If there was ever a time to adapt to marketing changes, it is now. With the power of influencer marketing, brands can market to separate demographics with higher engagement, and often at a lower cost than traditional marketing services.
What do you think? Let us know in the comments section below.
