DEFINITION
Influencer marketing is a type of marketing that focuses on using key leaders to drive your brand’s message to the larger market. Influencers, can be anyone and anywhere. The large followings on the web and social media makes them influential.
CURRENT SITUATION
The second wave of Corona-virus
has created havoc resulting in calls for beds, medicines, and oxygen over
social media platforms, a sharp decline has been witnessed across Influencer
Marketing activities.
The uncertainty and changing dynamics
has forced Influencer Marketers from across the world to scrap plans as no
industry has been immune to the effects of COVID-19 with companies shrinking
marketing budgets, influencers are dropping their rates.
HOW INFLUENCERS ARE PIVOTING DURING COVID-19
Influencer content among travel
and tourism brands dropped significantly. Influencer marketing activities have
fallen 40-70% since April 2021 due to brands postponing launches of new products
and pausing their campaigns with keeping in mind that there is dip in consumer
sentiments.
There’s a fear among top
advertisers of being trolled for being tone deaf to the worsening state of the
pandemic in the country if they indulge in promotions.
Mostly all the companies which
cares about the image of its brand has delayed promotions, big spenders such as
fashion & lifestyle, cosmetics and travel categories have paused their
promotions. Personal care and hygiene related brands are carrying out low-scale
campaigns.
THE WAY FORWARD
We will see a brand new direction
of influencer marketing which is changing as consumers are being more careful
than ever for choosing who they listen to, where they shop, and where their
income is directly contributing too.
Influencers will try to keep
their brand authentic by carefully choosing brand partnerships.
Companies will invest more
resources into influencers, as they are an ideal bridge between consumers and
their products during this period of remote contact.
Influencer marketing will see
brand collaborations from profitable sectors such as digital payments, video
conferencing tools, gaming, entertainment, and OTT. Companies will choose
cheaper alternatives to influencer marketing over mass media advertising as advertising
budgets will be slashed.
