Singapore – The influencer marketing industry and creator economy is booming thanks to a wave of new innovations we’re seeing happening across social media channels. Influencers are becoming household names across the globe, and brands are responding by jumping into the influencer channel to drive successful marketing strategies. As we head into a new calendar year, how should brands maximise the value of their investment in content creators to reach more audiences at scale?
MARKETECH APAC’s latest webinar, ‘What’s NEXT 2023: Influencer Marketing in APAC’, provides answers to this question. In his presentation, Aaron Brooks, co-founder & president of influencer marketing platform Vamp, discussed the evolution of influencer marketing as a brand strategy, the key trends to watch out for in the space, and shared insights on how brands can best participate in the creator economy moving forward.
According to Brooks, the emergence of digital web 2.0 technologies changed the way marketers interact with their audiences, and that said evolution has greatly benefitted the influencer marketing space. In fact, global influencer marketing is expected to reach $143b by 2030 — amounting to a compound annual growth rate of 33.4%.
Despite this anticipated growth, brands are looking for a seamless experiences collaborating with creators, and there are still actions the company is taking to remove the complexities of the creator economy. To this, Brooks said, “For this efficient experience to happen, we need to think of ourselves as being part of a broader ecosystem that connects the brands and the agencies to the community that helps them activate social content. We already have the critical masses on each platform, and it’s where brand activity needs to happen. Our role as a technology provider is connecting all these parts back to creators, who really exist at the core of this ecosystem.”
He shared key insights brands should consider adopting, in order for them to future-proof their influencer marketing strategies. This includes moving away from a one-size-fits-all perspective and instead thinking of platform-based approaches to be in line with the brand’s overall marketing objectives.
Speaking from his experience with Vamp’s clients, Brooks likewise mentions the importance of boosting creators’ organic content to drive results. “This is really important for a few reasons. When clients boost their organic content through paid media, you are basically giving the content a second lease of life that helps push customers further down the purchase funnel and drives the performance element of a campaign,” he explained.
He specifically mentioned the importance of leveraging the power of video for content creation. According to Brooks, about 79% of TikTok users said they discovered new brands through the app. From a content format performance perspective, he referenced Instagram reels being 29% more efficient than stories, and 3.8 times more cost-efficient than feed posts. Reels also have 25% more return on ad spend (ROAS) than other IG content.
As Brooks wrapped up his presentation, he shared some actions brands can apply to their influencer marketing approach. His first tip is to apply a squad strategy when selecting a creator mix for your brand, in order to reach all consumer types and sub-niche audiences. This includes recruiting micro-creators who tend to have much more engaged audiences, and using creators from a broad selection of interest groups. He also mentioned it is important for brands to “mirror the fabric of everyday life” by creating authentic advocacy content. Lastly, he recommended using creators to build a digital asset library that has a constant stream of original content, so brands can rise to the challenge of continuously engaging with consumers on different online channels.
Brooks was later joined by industry experts for the panel discussion during the latter part of the webinar, including Ruben Ahmed, director of marketing at HP ANZ; Isabel Falco, chief digital & marketing officer at L’Oréal Philippines; and Jonathan Gerard, head of production at VaynerMedia Asia Pacific.