In 2023, Traackr hosted its third annual IMPACT event in New York, bringing together industry leaders and influencers to discuss the latest trends and strategies in influencer marketing. As the event’s MC, I had the privilege of moderating a series of insightful sessions featuring speakers from renowned brands and influential creators. This year’s lineup included representatives from L’Oréal USA, Dove North America, Kate Spade, Laneige, Business Insider, and Snap Inc., along with some of the most prominent creators in the industry. The event sparked engaging discussions and revealed valuable insights into the evolving landscape of influencer marketing. Stay tuned for upcoming events in Los Angeles and London, and subscribe to our newsletter for the latest updates and trends in influencer marketing.
Expand Your Social Platform Horizons
In today’s digital landscape, it’s crucial for brands to diversify their social media presence. While platforms like Instagram and TikTok dominate the scene, there are other social networks that offer unique opportunities for engagement and growth. One such platform is Snapchat, which boasts an impressive user base and demographic. According to Francis Roberts, a leading expert in the field, 414 million people use Snapchat daily. Moreover, 90% of all 13-24-year-olds are active on the platform, making it an ideal space for reaching Gen Z audiences. Interestingly, over 50% of daily Snapchat users are not on TikTok, and a significant portion of these users are also not on YouTube. This presents a valuable opportunity for brands to tap into a niche audience that is not yet saturated by other social media platforms.
To capitalize on this trend, brands should consider expanding their presence on Snapchat. By doing so, they can attract creators who are eager to tag their brands, leading to increased organic reach and engagement. Traackr’s recent partnership with Snap offers brands a seamless way to discover and collaborate with creators, as well as track campaign performance. This strategic move can help brands stay ahead of the curve and maintain a competitive edge in the ever-evolving social media landscape.
Embrace Authenticity and Representation
Authenticity is a cornerstone of successful influencer marketing. Creators who embrace their unique identities and share genuine content tend to build stronger connections with their audiences. This approach not only fosters growth but also resonates with viewers who appreciate authenticity and representation.
At the IMPACT NYC event, Snapchat creator AJ (@apr1lf00lz) shared her journey to success. She began by posting mundane content, such as her janitorial work, and gradually gained a massive following. Today, she shares her personal experiences, including her interracial relationship, and inspires millions of followers. Her story underscores the importance of representation and authenticity in influencer marketing.
For brands, authenticity means being true to their values and communicating in an authentic voice. However, this does not mean jumping on every trend or adopting a superficial approach. Brands should focus on their unique identity and avoid being overly trend-driven. By staying true to their values and being authentic, brands can build lasting connections with their audiences and creators.
Foster True Collaboration
Collaboration is a powerful tool in influencer marketing, but it must be genuine and reciprocal. True collaborations involve mutual respect, creativity, and long-term partnerships. At the IMPACT NYC event, Iris Coker, Director of Global Influencer Relations and Social Media at Kate Spade, and creator Taryn Delanie Smith (@taryntino21) discussed the importance of true collaboration.
One notable example is the partnership between Kate Spade New York and creator Taryn Delanie Smith. Taryn’s idea for “Starr,” a quirky unpaid intern aspiring to be the CEO of Kate Spade, was met with enthusiasm from the brand. This collaboration has resulted in two successful videos that have resonated with audiences and humanized the brand. The mutual respect and creativity between the brand and creator have led to a stronger partnership and expanded reach.
True collaborations require both parties to be open to new ideas and willing to take creative risks. By fostering a collaborative environment, brands can tap into the creativity of influencers and create meaningful content that resonates with audiences.
Consistent Brand Values Drive Loyalty
Consistency in brand values is essential for building long-term loyalty. Brands that define their values clearly and consistently communicate them to their audiences tend to attract loyal followers. Dove is a prime example of a brand that has successfully maintained its values over the years.
Dana Paolucci, Head of PR and Influence at Dove North America, spoke at the IMPACT NYC event about the importance of consistent brand values. Dove’s Real Beauty campaign, which has been running for 20 years, is a testament to the brand’s commitment to its values. The campaign’s anti-AI stance in 2023 further solidified Dove’s reputation for integrity and creativity.
Consistent brand values not only attract consumers but also inspire creators to align with the brand’s message. This alignment can lead to authentic and engaging collaborations that resonate with audiences. By staying true to their values, brands can build a strong and loyal following that appreciates their commitment and creativity.
Critical Evaluation of Performance Metrics
Measuring the success of influencer marketing campaigns requires a nuanced approach. There is no one-size-fits-all metric, and practitioners must consider various factors when setting performance goals. Beauty CMO Tiffani D. Carter highlighted the importance of critical evaluation in her session at IMPACT NYC.
One common misconception is the reliance on earned media value (EMV). While EMV can provide some insights, it is not a comprehensive measure of campaign success. Instead, practitioners should consider a range of metrics, including saves, likes, comments, and impressions. These metrics can vary depending on the platform, format, and intent of the campaign.
For example, saves can be a strong indicator of future purchases, while likes may not be as meaningful. Impressions can be valuable for raising brand awareness, but they should not be the sole focus. By evaluating metrics critically and setting goals based on intent, brands can gain a more accurate picture of their campaign’s performance and make data-driven decisions.
Influencer Marketing as a Growth Strategy
Influencer marketing is not a zero-sum game. Contrary to the misconception that it takes resources away from other marketing channels, influencer marketing can be a powerful growth strategy. By leveraging the reach and influence of creators, brands can expand their audience and drive meaningful engagement.
Tight budgets, limited teams, and shrunken timelines can make it challenging to allocate resources to influencer marketing. However, by integrating influencer marketing into a broader marketing strategy, brands can maximize their impact and achieve better results. This approach allows brands to tap into the creativity and reach of influencers while still maintaining a strong presence on other marketing channels.
Influencer marketing offers a unique opportunity for brands to connect with audiences in an authentic and engaging way. By embracing this strategy, brands can build stronger relationships with their customers and drive long-term growth.
Conclusion
The Traackr IMPACT 2023 event provided valuable insights into the latest trends and strategies in influencer marketing. From expanding social platform horizons to fostering true collaboration and evaluating performance metrics critically, brands can leverage these insights to create successful and meaningful influencer marketing campaigns. By staying authentic, consistent, and creative, brands can build strong relationships with their audiences and achieve long-term success.
Frequently Asked Questions
What are the key trends in influencer marketing for 2023?
The key trends in influencer marketing for 2023 include expanding social platform horizons, embracing authenticity and representation, fostering true collaboration, maintaining consistent brand values, and critically evaluating performance metrics. These trends highlight the importance of diversity, creativity, and data-driven decision-making in influencer marketing.
How can brands expand their social platform horizons?
Brands can expand their social platform horizons by exploring niche platforms like Snapchat, which offers unique opportunities for engagement and growth. By diversifying their social media presence, brands can attract creators and reach audiences that are not yet saturated by other platforms.
Why is authenticity important in influencer marketing?
Authenticity is important in influencer marketing because it fosters genuine connections with audiences. Creators who embrace their unique identities and share authentic content tend to build stronger relationships with their followers. For brands, authenticity means being true to their values and communicating in an authentic voice.
What makes a true collaboration in influencer marketing?
A true collaboration in influencer marketing involves mutual respect, creativity, and long-term partnerships. Both parties should be open to new ideas and willing to take creative risks. True collaborations result in meaningful content that resonates with audiences and strengthens the relationship between the brand and creator.
How can brands measure the success of their influencer marketing campaigns?
Measuring the success of influencer marketing campaigns requires a nuanced approach. Brands should consider a range of metrics, including saves, likes, comments, and impressions, rather than relying on a single metric like earned media value (EMV). By evaluating metrics critically and setting goals based on intent, brands can gain a more accurate picture of their campaign’s performance and make data-driven decisions.
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