Coronavirus is taking the whole world by storm. It has created an extremely unimaginable situation of fear, uncertainty, and confusion. Even some of the most powerful countries are struggling to control the effects of this deadly pandemic.
Hundreds of countries are going through very disturbing, but necessary lockdowns. Businesses have no other option but to follow a complete shut-down. The industry sector is witnessing one of the most horrible times in its history. The entire face of marketing is changed dramatically within a couple of months.
You can say, almost every corner of the world is affected by COVID-19. And there is no exception for influencer-marketing. Let’s find out how the coronavirus pandemic has hit the influencers and how they are responding.
Influencers have no other option but to “adapt”
The near-term effects of COVID-19 are only getting bigger and bigger with every passing day. The whole global economy is feeling the effect. Business owners and influencers have only one option of “adapting” to the situation.
Fashion Influencers are witnessing their sponsorship deals getting revoked, advertisement events and shows are getting canceled. Most of the brands are focussing primarily on alternative revenue streams so that they can continuously try and earn their bread without moving out of their homes.
Most of the influencer-marketing companies are going through a rough patch that seems to be not ending in the near future. Most of the brands and companies are canceling their brand campaigns.
The social-media engagement is on it’s all-time high:
The companies are witnessing that the engagement on social media platforms is only increasing with time. Most of the consumers are spending their time on social media while observing the lockdown or physical isolation.
So, the companies might go complete digital even with their ad campaigns. They would want to adapt the concept of “work from home” and can focus more on social media platforms than organizing advertisement campaigns, and brand marketing events.
What Does it Mean for Influencers?
Advertisers are also finding that they can also adopt the method of “work from home”. These are the times when DIY ad content films recorded at home can work instead of commercial photo shoots and recordings.
How Influencers Are Changing Their Strategies?
Beauty Influencers are focussing more on switching up their revenue strategies. They are focusing more on practically possible methods of working. They have some effective options like a direct-to-consumer business, revenue streams like coaching, teaching, and consulting, etc. Adjusting their goals to the more realistic and approachable way is the only option they have.
Creators are cutting down the traveling, influencing events, and brand deals. Because they have no other option! They have to focus on alternative methods that can be practically possible for both business owners and influencers.
Even Some Collab Houses are Closing Their Doors!
Guys! They don’t have any other options! Rihanna recently announced that her cosmetic brand, Fenty Beauty is going to adapt to the “TikTok Collab House” trend! Fenty Beauty already has 400,000 followers on TikTok!
Collab Houses like Hype House and Sway LA are very popular among the influencers, and they are offering some interesting ideas to the stars so that they can record videos for Instagram, TikTok, Snapchat, Facebook, and YouTube, etc. Depending on the current situation, influencers can effectively adapt to these methods.
How the coronavirus could change the influencer-marketing industry?
According to the report from one of the well-known influence-marketing companies, despite an increase in social media engagement, the prices paid per post all over social media may reduce dramatically, and it may continuously reduce depending on the extent of coronavirus pandemic impact.
“It’s very natural that brand deals are going to be affected badly. So, marketers and influencers should think about mixed-compensate models and re-designed structures to successfully manage costs, improve overall investment return, and more importantly, to control the negative impact”, report says.
“What are Brands Thinking About Situation-Based Alternatives?”
“This is an interesting point where brands have no other option but to ‘wait and watch’. They are pondering over near-future effects of COVID-19 before starting to re-invest their money”- an estimation from another famous influencer marketing agency explains.
The Engagement on Sponsored Posts has Increased Recently
Even after the cancellation of thousands of ad campaigns, online engagement is increasing.
Most of the people are staying home to ensure they can do their parts to reduce the risk of coronavirus pandemic outbreak. And that means the social-media engagement is increasing every day. Influencer marketers are witnessing an increase in user engagement on sponsored posts on social media applications like Instagram and TikTok.
According to one of the other marketing agencies, there is a 76% boost in the overall numbers of “likes” on Instagram’s sponsored posts in the last couple of weeks.
Everyone is staying at home and is actively using various social media applications. So, influencers are also going the digital way, and they are trying to influence social media users right from their homes. And that seems to be the only way to adapt to this horribly serious coronavirus condition.