COVID-19 & The Impact on Influencer Marketing: Is #2020Cancelled?

With the world in a state of uncertainty during COVID-19 (coronavirus) the pandemic is raising some serious questions for communications professionals, causing a rethink to strategies for 2020. Influencer marketing has developed into a fully-fledged discipline in it's own right and with continued growth, comes great value attributed to influencer marketing that is here to stay and continue. Current valuations suggest the industry is worth $8 billion, coupled with the projection that this value looks set to double by 2022, meaning that it is important for brands to stay ahead of the curve and adapt to this ever-changing industry (1). In this article, I've looked at trends set out for 2020 and how brands and organisations will have to adapt with purpose and engage in meaningful influencer partnerships with sensitive and sensible individuals, that provide a service, to emerge from COVID-19 stronger and ready for the recovery period.

2020 INFLUENCER MARKETING TRENDS

The seven key influencer marketing trends predicted for 2020 include (1):

1. Influence gained from talent & expertise driving the most successful partnerships - Re-understanding 'influence' and reverting to its true definition. Moving away from chasing an influencers follower counts, to more authentic storytelling (1). Mega influencers and celebrities will remain effective choices for driving brand awareness however, recognising value in the varying strengths and expertise of content creators across all tiers will prevail.
2. Purpose-led influencer marketing will be on the rise - Topics including; climate change, inclusivity, sustainability, zero waste and veganism have all seen huge increases in online mentions which in turn, has seen brands adopting such trends as part of their influencer marketing strategy (1). There is a fine line between genuine cause for the brand and tokenism.
3. Regulatory control will become more widespread and better practiced - The CMA, ASA and CAP work collaboratively within the UK to govern lawful influencer marketing, as well as their US counterparts, the FTC, have all recently produced guides for influencers and brands to adhere to the rules legally (1). Lines between organic and sponsored content are still increasingly blurred, especially for early adopting content creators that are less familiar with the guidelines
4. Fake followings will be easier to detect - An improvement on last year with various algorithms being utilised to identify suspicious behaviour and track activity such as follower and engagement spikes. There is still a 'cleaning up' phase to be done, as algorithms fail to identify that certain irregular posting and engagement can be typical and normal behaviour on social (1). Due-diligence to carry out common practice both in the on-boarding and decision-making process, is more prevalent than ever before, given the introduction of new algorithms (even if they are still in the testing phase), as new methods and technologies continue to mature.
5. The breadth of platforms utilised by influencer marketing will increase - it's not just about Instagram anymore - The new kid on the block...TikTok, do I need to say anymore? With Gen Z likely the most difficult age group to target, the first to be fully digital natives, they are technologically savvy, aware when they are being marketed to via influencers and aren’t found on the typical platforms that influencer marketers (and non-Gen Zs) have become accustomed to (1).
6. The industry will start to move away from a one-size-fits-all approach across sourcing, execution and measurement of campaigns - Influence is subjective to each brand and becomes nuanced by a variety of factors hinged on the values and objectives surrounding a campaign, making it impossible to benchmark across the entire industry. Understanding the need for measurement to be unique on both a brand and campaign level, will see brands focus on executing and measuring each activation individually; practicing individual objectives, activations, perception of influencer, value of investment and KPIs in order to truly measure the value and effectiveness of influencer marketing (1).
7. True virtual influencer marketing will come into practice - The power of Virtual Influencers started with the VI having a strong story and native that connects with the brand and engages the consumer (1). In 2020 there will be an increase in VIs being created from scratch for brands based on the emotional needs of the target audience however, it's the value of VI's are still debatable.

IS 2020 CANCELLED?

DO BRANDS NEED TO CONTINUE WITH REVISED STRATEGY?

Messaging and creative will need to be adjusted, whilst brands become more sensitive to current consumer concerns and appetites. The theory of ‘The Lipstick Effect’ suggests that consumers tend to invest in low-price luxuries or ‘feel good’ purchases during an economic crisis as a means of distraction (2). Implementing a donation driven by compassion for the critical work of the NHS, displays humanity by the brand having a long-term impact on positive brand perception far greater than everyday activations (2).

THE CHANGING HABITS IN CONSUMER CONTENT CONSUMPTION:

Consumers are more likely looking for helpful, informative, solutions-based content. Referencing back to trend one: re-understanding 'influencer' and the true use of influencer marketing, demonstrates further that brands should be engaging with content creators who have influence through talent, knowledge or expertise rather than just a following (2). Brands should facilitate conversations, not look to own them, in turn generating greater connectivity or enhancing lifestyles through isolation (2).

THE CHANGING CONTENT TRENDS OF CELEBRITIES AND INFLUENCERS:

A number of celebrities and influencers on social media have been creating videos giving their audiences tips on things to do from home. Music has been a key influence and a great way to boost virtual morale, by entertaining fans with online performances during isolation and boost sentiment (2). Influencers are creating more YouTube content and audiences are more actively engaging with influencer content that adapts to new environments and emphasises self-care. People are increasingly turning to their favourite content creators for community and connection during this isolated period (6).

THE POWER OF EXPERTISE WITHIN INFLUENCE TO COMBAT MISINFORMATION AND ‘FAKE-NEWS:

The UK’s Department for International Development will charge influencers with the task of pointing younger users towards official public health advice. Illustrating just one of the ways influencers can be formally employed as a force for good during the crisis and a means of communicating best practice (2).

THE NEED FOR BRANDS TO SHOW HUMANITY:

Combining brand influence with that of a skilled digital motivator could be a powerful pairing that increases awareness, visibility and impact. Rather than looking for a quick fix, brands should be thinking differently about their influencer strategy, focusing more closely on building a human identity for themselves and working in conjunction with their customers to fix real problems for long-term brand resonance (2).

WORKING WITH DIGITAL INFLUENCERS IN THE CURRENT CLIMATE:

Any effective influencer marketing practitioner should be demonstrating due diligence vigilantly, now more than ever,and take care to avoid association with individuals who do not align with wider values (2).

WHAT'S YOUR DAILY SCREEN TIME?

Screen time has increased by 76% week-on-week since the outbreak (3). In the current landscape emerging attitudes highlight a new need for balancing personal and professional life (3). Consumers have accelerated trends, such as learning a new skill and finding their passion during this difficult time, whilst looking towards indoor activities such as arts & entertainment. During this unpredictable time, people look towards talent for both escapism and inspiration. Engagement for live video content has increased by 50% during the pandemic (3) with keeping people entertained and educated at the forefront of online content.

CONTENT SPOTLIGHT:

• Virtual Brand Activations - The use of live video to connect & engage in a direct & meaningful way (3).
• Gamification Mechanics - Online challenges (3) and the return of the quiz.
• Mechanics Enhanced Content - Editing and animation to ensure your content stands out (3).

INDUSTRY IN FOCUS:

• Food & Beverage - With more time to cook, there is an emerging need for cooking in a resourceful way & demand for online delivery with; creative recipes & DIY cocktails (3).
• Health & Wellness - Self-care is at the top of everyones list as private & professional lives are now overlapping more than ever. The need to release stress and develop new organised healthy routines, from live work outs to meditation (3).
• Skincare & Make-up - Beauty provides a form of self-entertainment & comfort that can drive confidence and empower people to experiment with new looks & products. From Mon-Fri zoom call WFH looks, to making your own face mask at home (3).
• Technology & Entertainment - Offline & online play allows for discovery of new crafts through live stream vs a good old traditional board game (3).
• Fashion & Apparel - Self-gratification from above the desk dressing, to Friday night group-chat house party looks (3).

Brands are leaning into influencer marketing to deliver relevant and consistent messages that keep their audiences engaged amid the coronavirus crisis. Carefully managed, close relationships with influencers can help companies continue to deliver higher quality content during uncertain times (4). Brands with existing influencer partnerships have a degree of leverage and a safety net compared to those that don’t, those who have invested in influencer marketing find themselves with a valuable asset as consumer communications have changed in light of Covid-19 (4).

BEST PRACTICE TIPS FOR COMMUNICATION STRATEGIES IN THE CURRENT CLIMATE:

Communicate only where relevant, concisely and when necessary, in order to cut through the noise (5). Recognise and address current challenges productively by thinking about how you can craft content that provides solutions and ideas for relief in the current situation, rather than producing unnecessary and irrelevant commentary (5). Ensure any commentary on the topic is accurate and fact-checked. Practice what you preach or don’t preach at all - with any purpose-led communication, the values projected need to be deep-rooted in the heart of your brand and communicate your true values and core ethos as a company (5). Adapt your tone appropriately to match consumer sentiment. Make sure that your internal and external communications go hand-in-hand. Stay informed with up-to-date developments and don't jump on the hashtag bandwagon (5).

In conclusion, it's time to embrace the new home economy, where people are hyper-connected, brands keep an ongoing and close relationship with their audience, focus on the positives as consumers seek out digital communities, in order to stay in touch with the people and things that matter to them. Consumption of all forms of digital media is also forecasted to rise off the back of people spending more time at home (3). Smart brands will use this opportunity to future-proof their internal strategies and build better long-term partnerships that will extend effectiveness far beyond what the world is currently experiencing. It is inevitable that companies need to continue adapting their strategy to fit in with the new physical being online, with an increased vocalisation of compassion (2).

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Sources:

(1) Influencer Intelligence - '7 Influencer Marketing Trends for 2020' https://www.influencerintelligence.com/insights/9w/7-Influencer-Marketing-Trends-for-2020

(2) Influencer Intelligence - 'What does the Covid-19 outbreak mean for influencers?' https://www.influencerintelligence.com/insights/nw/what-covid-19-means-for-influencer-marketing

(3) Talent Village - 'COVID-19: Decoding the Home Economy' https://talentvillage.com/en/industry-insights-en/resources/covid-19-report/

(4) VOGUE Business - 'Influencers' currency has increased during Covid-19 crisis' https://www.voguebusiness.com/companies/influencers-currency-has-increased-during-covid-19-crisis-marketing

(5) Fashion Monitor - 'COVID-19 Best Practice Tips for Communications Strategies in the Current Climate https://www.fashionmonitor.com/insights/nS/COVID-19-Best-Practice-Tips-for-Communications-Strategies-in-the-Current-Climate

(6) Tribe Dynamics - 'How COVID-19 Has Impacted Influencer Marketing So Far' https://www.tribedynamics.com/blog/covid-19-influencer-marketing-impact-beauty-and-fashion-brands-march-20