In just a few months, soaring influencer campaigns have all but fizzled in light of budget freezes from brands. Among the many economic casualties of the global pandemic, influencer marketing has suffered as brands cut budgets and freeze programs and campaigns, and the primary currency of the industry, the widespread competition for likes and engagement fell flat compared to changes in brand strategies and business goals.
Technology is already adapting to adjust to the new influencer landscape. More brands are turning toward ROI metrics to justify their influencer spend—metrics beyond previously tracked likes and social engagement. Furthermore, audiences are looking for more meaningful interactions with influencers.
The result: technology adapts to democratize social media so that influencers can meaningfully interact with audiences, and brands can find real value in those interactions.
The COVID-19 crisis, political upheaval, and global uncertainty has put pressure on this aspect of marketing, specifically because likes and engagement are soft numbers that don’t necessarily move the ROI needle. Therefore, the spend can’t be justified right now.
Marketing budget cuts placed influencers in the lurch who depend upon brand revenue to continue with their platforms. It also impacts audiences who now must find other forms of entertainment. However, there is another way.
Livestreaming – now surging in popularity on many platforms – is enabling influencers to continue social interactions from the safety of their homes and using machine learning and other cutting-edge