How influencer marketing will change during the recession, according to experts

"Economists around the world warn that recession is nigh. But as we move toward greater economic uncertainty, influencer marketing will remain a key differentiator for brands, according to experts. As inflation rises and recession looms, consumer spending is slowing. How must brands respond to financial difficulties and changing consumer behavior? Industry leaders at Vamp, EGC Group and The Social Element share three reasons why influencer marketing will remain a crucial channel in 2023."

"Not to mention, creator-generated content can be repurposed and used in a variety of other applications, such as out-of-home (OOH) and digital. "Brands see [influencer marketing] as a way to leverage and get assets at scale, really quickly, for a fraction of the cost of other channels ... Brands need assets," Brooks says. "That's why we haven't seen the effects of the macroeconomic trends. If anything, we've seen brands double down on spending for this year.""

Economists warn of an approaching recession while inflation rises and consumer spending slows. Brands will continue advertising but allocate budgets more strategically in 2023. Influencer marketing offers strong return on investment, organic engagement, and actionable consumer insights. Creator-generated content can be repurposed across channels like out-of-home and digital, providing scaled assets quickly and cheaply. Brands are using influencer content to obtain assets at a fraction of traditional channel costs and many are maintaining or increasing spend. Influencers build authentic connections with audiences beyond traditional product-focused marketing, and consumers trust creators for purchase guidance amid financial strain.

Read at The Drum