Influencer Trends In 2023 Revealed By Ogilvy
When it comes to modern marketing strategies, no fad is more tempting or stirring than influencer marketing.
The practice of brands aligning themselves with individuals who have the potential to influence a large number of people has taken off and shows no sign of slowing down in popularity. Many marketers were hesitant to seek this new approach as a means for success. On one hand, there seems little risk involved for brands when hiring popular social media personalities, many of whom are typically recognizable for their creative posts and online activity before all else. And some brands choose to dismiss it entirely.
However, there are no doubters left now. Globally, the amount spent on influencer marketing climbed from $1.7BN to $16.4BN between 2016 and 2022.
TikTok, the major driver of its expansion, is currently the third-largest platform and continues to develop. While it still has a young demographic, 36% of its users are now over the age of 30.
E-commerce & TikTok
TikTok has emerged as possibly the most powerful cultural force in the world today. It is becoming a crucial means for us to discover our world, including business. (TikTokMadeMeBuyIt, for example, has 29.3 billion views.) The platform has also taken steps to facilitate greater eCommerce.
To that purpose, TikTok is exploring live stores, giving marketers unique insight into campaigns from start to finish. 49% of TikTok users have reported making a purchase using the app, but this is only the beginning. At the same time, subscription services such as Patreon are getting more popular. This approach is only going to increase in the coming year, providing creators with new revenue streams that go beyond paid ads.
“The reason influencer marketing works now is the reason I first believed in it: because people trust people more than brands. Influence allows us brands to connect with audiences in a way no other marketing can – with authenticity.” Rahul Titus, the Global Head of Influence for Ogilvy, says,
Indeed, in an age when we are overwhelmed with content via our screens, we see actual people delivering real stories, and we all know that's where the real power is today and will be in the coming years.
