How Second Wave has impacted Influencer Marketing?

 

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.