Most of us who frequent social media platforms will have probably given in to the recommendations of an influencer in one way or another. Whether it be an Amazon gadget or a new trending celeb recipe, influencers have the power to impact decisions of consumers across all age groups.
Over the years, influencer marketing has been on the rise. In 2021, 44% of B2C brands in Europe said they planned to increase their influencer marketing budget. What was a $1.7 billion industry, in 2016 has since grown to become worth $16 billion in 2022, with expectations for it to grow to $21 billion this year. But with all the emphasis put on these influencers to build a brand's reputation, what are the implications if this falls apart? The new ‘de-influencer’ trend might be the first sign of cracks in the influencer world.
So far, the de-influencing hashtag has garnered 180 million TikTok views since the trend began in January this year. De-influencing is when content creators uncover the truth about products consumers have been pushed to purchase, all in a bid to address overconsumption.
Like consumers, businesses face difficulties in the current economic climate. Layoffs have continued to dominate the headlines, putting the decisions of business leaders centre stage – they’re not only being judged by their employees but the general public too. In a similar vein, the de-influencer movement gives consumers the ‘right information’ they need to make better decisions with their money. Society craves authenticity, and with ‘cancel culture’ still present, no brand or business is safe from judgment. The jury is fierce and they take no prisoners. Now more than ever, shaping reputation is crucial.
This isn’t the first sign of consumers becoming savvier to how and where they should be spending their money. During the last decade we saw a huge rise in the importance of a business having the right ESG credentials, driven not only by government regulation but also investor and stakeholder demand. However, ESG's critics believe that companies are using the loosely defined term to “greenwash,” or make unrealistic or misleading claims, especially about their environmental credentials.
As B2B marketing strategies look to use business influencers on TikTok to complement product content on LinkedIn, they must ensure they know exactly who their audiences are and more importantly use the right influencers. After all, partnering with the wrong influencer can dramatically affect a brand’s credibility and ruin its reputation.
Whilst the de-influencer movement isn’t completely exempt from its own criticism of its authenticity, it’s brought up some really important conversations. It’s provided us with the space we need to stop and think about our decisions more closely, focusing on becoming better humans overall. As consumers, investors and end users are all focused on making the right decisions – whether it’s buying a dress from an environmentally charged retailer or investing in the most ethical AI driven product – businesses should focus on creating clear and concise messaging and communicating through the most effective means possible.
Zooming out of the detail of these trends to looking at a company's reputation as a whole, it’s important for leaders in comms to build meaningful relationships based on trust. This trust influences more than just purchasing, permeating all aspects of the company. There’s nowhere for organisations to hide, and any step of the way there’s judgement, so shaping a reputation in this new era, is about gaining trust through a comms strategy that puts transparency and authenticity at the forefront.