As of last year, the combined buying power of Millennials and Gen Z was 3 trillion, making them an incredibly influential demographic for marketers to target.
One of the best ways to get in front of this buying power is by utilising influencers, but it might not be in the way that you would expect.
Gone are the days of Kardashians selling waist trainers and detox teas on Instagram, just as the generations have evolved, as has influencer marketing, and if you don’t keep up you can easily lose the trust and interest of these two powerful generations.
Here are some tips that can help you get it right.
Is Influencer Marketing Still Relevant?
Very much so.
And, if you think differently you’re at risk of missing out on the opportunity to make the most out of your marketing campaigns.
According to Business Insider, Influencer marketing is on track to become a 15 billion dollar industry by 2022, and 63% of marketers have indicated that they are increasing their influencer budget in 2021.
Here are some new trends to watch out for if your main goal is to target both Gen Z and Millennials with influencers.
Video Reigns Supreme
Authentic, less curated, and ‘in the moment’ video content will continue to grow and be a fantastic part of influencer marketing.
With platforms such as TikTok growing like crazy, and with the introduction of Instagram Reels, it’s in businesses best interests to focus on using video content with their influencers.
The younger generations love this type of content because it feels much more natural, personal and it’s a great way for influencers to add value to their audiences without feeling overly curated.
Be Diverse and Inclusive
Diversity and inclusivity are incredibly important, especially to Gen Z and millennials. 2020 was a huge year for social change, and brands are now, more than ever, being held accountable for their social voices and being called out if there is an obvious lack of diversity in their marketing.
It’s not enough to just include diversity as an afterthought, this type of value needs to be built into the fabric of a brand, and this includes influencer marketing.
We’re already seeing more influencers step back from perfectly curated content to get more real with their followers, and this is only going to continue.
Brands need to keep in mind when working with influencers that they need to prioritise genuine content, creating real relationships.
A great way that brands can make sure they’re picking the right influencers is by placing less importance on the number of followers and likes, instead, looking closer at the type of engagement influencers get.
This includes what type of comments they receive, and how they interact with their audience and followers – important data to factor when looking for influencers who prioritise authenticity and value.
Less One-Offs and More Ongoing Relationships
Turning away from one-off posts and instead focusing on true brand partnerships will be the way forward for influencer marketing.
Gen Z and Millennials are smart and savvy, and they are quick to see through fake or ingenuine posts. By working closely and long term with influencers you can create more authentic relationships, having the influencers feel more like genuine partners and advocates for your brand, instead of one-offs motivated purely by money.
Want to amp up your influencer marketing campaigns?
We can help get you there.
We pride ourselves on being the ultimate match-makers, finding you influencers who encapsulate what your brand stands for. We can help you create genuine and long term relationships with your audience through the use of proper and effective influencer marketing.