Welcome to Part 2 of our 5 Part blog series: each week, we’re dishing on the top trends that will be hitting the world of social video in 2023! If you can’t wait for weekly downloads, you can access the full report here: Navigating Social Video in 2023: What you need to thrive.
In Part 1, we discussed new strategies companies should use to keep up with the lighting fast pace of the social video universe. In Part 2, we’ll examine the symbiotic relationship between the creator economy and the general economy.
The creator economy is the economy
Over the past decade, we’ve witnessed a mass reorganization of how companies attract, sell, and retain customers.
Creators are gaining more and more importance in overall business operations, many of them taking on roles as ambassadors, marketing consultants, and company stakeholders. Below you’ll also find Tubular’s optimized Influencer ID strategy.
Check out some of the most significant insights pulled from the report:
Key Data Points:
- In the past year, influencer-created content was watched 13.2x more than media & branded content combined.
- Influencer content is projected to gain 10T views per month by 2023
- Through 2023, influencer content viewership is projected to grow by 4x
- eMarketer projects 78.6% of marketers will incorporate influencers into their 2023 marketing strategies
- They forecast $6B spend on influencer marketing in 2023
The data doesn’t lie. The creator economy isn’t slowing down any time soon. Influencer strategies are no longer a “nice to have”, they’re a “need to have to thrive“. With so many creators to choose from, having access to metrics that allow you accurately evaluate their worth and alignment with your unique needs is priceless.
Surface-level metrics such as likes & views do not indicate true value. Below you’ll see just what you can achieve by applying deeper insights like shopping affinity, watch time, and search affinity to your influencer strategy. Scroll down for our Top 3 Tips for Influencer Identification.
3 Tips for identifying the perfect influencer to help you reach your KPIs:
1. Focus On Quality Over Quantity: Save money and avoid paying for inactive subscribers by partnering with “smaller” influencers who may drive more conversions.
2. Zero In On Consumer Behaviors: Cut out “media math” and access metrics like purchase affinity to project ROI.
3.Drive Growth in Adjacent Categories: Audiences have complex preferences that expand beyond just one category. Leverage this to your advantage by reaching your target demo and beyond in adjacent categories.
If you’re interested in learning more about how Tubular ties off-platform metrics like shopping, search, and browsing behaviors with social video, click here.
Thanks for tuning in to Part 2/5 in our State of Social Video 2023 blog series. If you missed Part 1, click here.
Want to access all 5 strategies from the State of Social Video in 2023? We got you. Download the full-report now.
Tune in next week to see part 3, Virtual communities for good!