Before the Covid-19 pandemic, influencer marketing was booming. 89% of brands previously reported that their ROI from influencer marketing was better than any other form of advertising. The coronavirus pandemic has undoubtedly affected our economy, including influencer marketing. The good thing is that by navigating these turbulent times prudently, companies are able to come out stronger than ever–and influencer marketing is a ripe tactic that can be used to that end.
Since the start of Covid-19, consumers have been a little hesitant to spend, so brands have reduced their spending. Afterall, who wants to spend time and money marketing to a group of consumers who aren’t making purchasing decisions?
While consumers may be hesitant to spend, they’re also spending more time online. So if brand awareness is one of your goals, then now may be the perfect time to partner with influencers to grow attention on your brand.
The ultimate question on every marketers’ mind is whether or not now is a good time to implement influencer marketing–so let’s explore that topic.
The Stay at Home Economy
An important part of successfully marketing with influencers right now is understanding the stay at home economy.
Influencers need to be able to craft and photograph their posts from home. So many brands are switching gears and finding ways that they can activate influencers from their homes.
Because of Covid-19, influencer campaigns that involved any sort of event or required an influencer to go on location have been cancelled or at least postponed.
To put it simply, many influencers are posting about topics that are more lucrative, from their homes, during the pandemic.
Covid-19 has created a unique situation where consumers are spending more time online but brands are pausing their influencer marketing efforts. This increase in viewership means that it’s an ideal time to earn brand awareness.
Social media engagement has gone up over 61%. With stay at home orders, people are taking to their phones and being highly social. So in reality, now is a great time to partner with influencers.
Consumers Care About Brands Who Give to the Community
Consumers are smart and they are more altruistic right now than ever before. Consumers pay attention and support brands who support the community. This can be in the form of donating a percentage of profits, donating food, etc.
If you’re going to run an influencer campaign right now, be sure that a component of it involves giving back to the community and equipping your influencers to talk about your efforts as part of your partnership.
How Brands Are Spending Their Budget
More than 1 in 4 influencers report that they have received less brand partnerships–so brands are definitely slowing down their budget.
It’s kind of a catch 22 because consumers are online more than ever but many brands have paused their influencer marketing efforts or changed strategies.
The brands that are running influencer campaigns are spending their budget on brand awareness and are prioritizing that earned media over sales. Sales will come later, so it’s smart that brands are earning brand awareness posts.
Executing an Authentic Influencer Strategy During the Pandemic
Influencer marketing is still very viable during the pandemic if you go about it the right way. Here are a few things to keep in mind:
- Create influencer personas from your buyer personas to get super targeted when it comes to the influencers you reach out to
- Vet for a content fit over the number of followers an influencer has
- Seed influencers with the necessary assets and products so they can do a good job representing your brand
- Use a creative campaign theme for all of your influencers to make your earned media more engaging
- Add a component of giving to the community and have your influencers highlight your efforts
- Track your campaign and build future campaigns from the data you gather
The pandemic has definitely changed the influencer marketing landscape. Many brands have paused their marketing efforts because they believe consumers aren’t spending money right now. However, consumers are online more than ever before, so influencer marketing is still viable if done the right way.
What do you think about how the pandemic has affected influencer marketing?