Influencer marketing has become an essential part of modern marketing, as social media and video content have revolutionised the way brands engage with target audiences.
At their best, influencers are authentic in a way no other spokesperson can. They can shift perspectives and change opinions of followers – making them an attractive option for cost effective marketing.
As the market has developed, so has both rules and best practice for working with influencers. Companies must adapt to these changing trends to succeed.
The balance between creativity and compliance
The success of influencer marketing depends on the ability of the influencer to communicate authentically with their audience. Influencers must align with the brand, values and messaging. Trust is a crucial factor – especially in finance.
For financial services, regulations are an important factor. As a designer, I have to strike the balance between driving creativity and addressing any compliance requirements at the same time. It’s not an easy task but a cooperative and co-creative approach leads to better outcomes. Influencers as well need some creative freedom while still adhering to brand guidelines, cooperating with brands that remain open to their ideas.
Experimenting with different influencers
Identifying the right influencers is also critical. Engagement rates, audience demographics, and authority are important KPIs. Data can help companies identify the influencers who can effectively communicate with their audience. Experimenting with multiple influencers to find the best performer and adapting content accordingly can lead to better outcomes as well.
There is a growing trend of influencers beyond social media, such as academics and scientists, as people increasingly seek credible sources. The power of storytelling and relatable content is what draws in followers and leads to brand partnerships.
Individual platforms play a significant role in influencer marketing. LinkedIn generates the most conversions and engagement, whereas TikTok allows for greater authenticity and community management. Instagram has become more about monetization, with only a small percentage of followers viewing content.
TikTok and Instagram Reels have changed the game, as they are more entertaining. I always open TikTok to find out the relevant trends on a topic that matters to me – it’s an excellent platform to keep track of what is hot. I try to pick and choose what interests me the most and make it unique for me and my audience.
Social media platforms have distinctive advantages. Twitter is great for the US market and LinkedIn being more effective for conversion and engagement rates. TikTok is becoming a huge tool for brands to show personality. TikToks do not necessarily require humour and be fun, but they must be engaging enough attract viewers. Topics around money are becoming increasingly popular, particularly among younger generations who feel the need to learn about financial matters that were not openly discussed in their families while growing up. The hashtag #moneytalk on TikTok has over 65,000 videos.
Influencer marketing has become an essential part of modern marketing, and companies must adapt to changing trends and times. Finding the right influencers, striking the right balance between creativity and compliance, and adapting content to changing trends and times are key to success. The power of storytelling and relatable content is what draws in followers and leads to brand partnerships. Companies that can navigate the complexities of influencer marketing while remaining authentic and compliant will succeed.
Fiorella Pantaleo is a designer in Cognito’s London office