The #Corona virushas changed the style of content production of many influencers, and their selfies of landscapes have given way to photographs of the living room. In addition to changing the content of influencers, the Corona crisis has jeopardized their earnings because brands are no longer willing to sign large contracts, and advertising revenue has plummeted.
Over the past decadeinfluencers have changed the way brands advertise. The influencer industry was valued at about 6.5 billion dollar last year, and nearly half of marketing companies spent up to 20 percent of their budgets on Influencer promotional posts. There was a lot of money to be made on advertising for influencers, and those with more than a million followers received more than 10,000 $ to promote each product.
However, the influencer industry had problems with innovation in terms of marketing. Recent changes to social media advertising rules have prompted some influencers not to bombard users with various ads and to promote products in a more natural way.
The year 2020 seemed like a good year for Influencer reconciliation with followers and better advertising, but now with the outbreak of the corona virus, many are thinking of successfully overcoming the economic crisis of the Corona era instead of growing their business.
- The influencer industry was worth about 6.5 billion last year
Although 69% of brands predict a reduction in advertising budgets, but time that users spend with their phones, increased.