30-second summary:
- With sponsor deals shutting down, trips cancelled and events postponed, the Coronavirus has given influencer marketing a huge hit.
- Travel influencers suffered while fitness influencers thrived in a world of social distancing.
- Twitch, which is a top live streaming platform, saw a 10% rise in viewership.
- Be it self-help or DIY tutorials, social media figures are finding new ways to help their followers.
- As audiences trusting influencers more than faceless brands, they’re collaborating to raise funds from people affected by the coronavirus pandemic as well as to pay tribute to doctors who are on the front-line.
- Social media personalities are proving themselves to be flexible enough to create content that still resonates with a quarantined population. Dive in for more details.
No one predicted that a virus that emerged in the Chinese city of Wuhan would take the world into its grip. All around the world, life is on standstill and most economic and social activities have come to a halt.
Influencer marketing is among many industries that have been disrupted by the coronavirus pandemic. With sponsor deals shutting down, trips cancelled and events postponed—the once-booming influencer industry is going through a curious time.
In December of last year, Business Insider estimated[1] that brands will invest up to $15 billion on influencer marketing by 2022. Among other things, this estimate was based on the fact that influencers proved themselves to be highly effective promotional tools. Individuals with a significant following on platforms like Instagram, YouTube, and Facebook became important voices for brands that were seeking to spread their word.
But under the current crisis, influencers are not seeing money flowing into their bank accounts.
Travel influencers, the worst hit
Travelling from country to country and getting paid to do so is a dream life for many.