Last Friday, we were invited on to BBC World News to discuss a question that’s been cropping in the industry for some time: Is 2020 is the year of influencer fatigue?
First up, we looked at the marketing space specifically – are businesses looking to move away from influencers and use their budget elsewhere? Our answer is simple: no. In 2018, influencer marketing was a $2BN industry, and we are currently on track for it to be a $8BN industry in 2020 with it set to rise to $15BN in 2022.
It isn’t slowing down – but it is getting smarter, more effective and businesses are getting savvier to how it works for their organisations.
Then there’s the question of fatigue – are influencers themselves suffering fatigue? Whilst there’s many influencers in the mix, this is something that many have addressed themselves on their platforms. It is important to remember that celebrities are supported and trained to be in the public eye, whereas influencers are looking after themselves until they get to that tipping point of success, which is where managers, brands and agencies step in.
The support talent managers can offer is not just to ensure that influencers aren’t overworked, but to also avoid financial stress by taking on the role of accountant in some cases, too – chasing late payments and negotiating fees. This is why an always-on gig can be such a benefit to influencers: it’s a steady gig that promises a monthly income.
In some rare cases, the rise to “success” can be overnight, and this is where managers have a job to do not only from a financial perspective, but from a mental wellness perspective, too. Take Mrs Hinch, for example – the hugely successful Instagram influencer whose cleaning tips and down to earth personality saw her climb to 1M followers in just three months – nobody can be prepared to become a household name overnight.
It can sometimes appear that the role of an influencer is an easy one. But it’s hard work and can take a toll mentally. We’re seeing many burn out – there’s too much demand from their (often large) audiences to create content, they’re battling troll comments and understanding how best to PR themselves. Research shows influencers put over 30 hours a week into their craft, with the vast majority (76%) then working another job to support themselves.
So with demand for smarter brand deals; influencers still achieving overnight success and spend on the rise, we don’t expect to see the industry slow down anytime soon.
Want to do more with influencers in 2020? Drop us a line at firstname.lastname@example.org!