Influencer marketing in Nigeria in 2023; my predictions
By Tosin Opaleke
Influencer marketing is now integral to the digital marketing mix because it enables brands to engage audiences and promote authenticity and trust due to brand storytelling.
So, what does 2023 hold for influencer marketing in Nigeria amidst the new ARCON digital media marketing regulation?
Marketing budgets may decrease in 2023 due to the looming economic recession, however, brands will increase spending on influencer marketing; this is similar to what we experienced during the pandemic – when resources were scarce but influencer marketing was stronger than traditional digital media – this will be further solidified by a recession.
Many a brand has the proof points they need to increase their influencer marketing budget as it has proven more effective and accessible means of communication with consumers.
I believe influencers will be selective with the brands they work with so as to recommend good deals and offers for their followers, add value, and also to keep the community fresh and relevant.
Nonetheless, we will see brands working with influencers based on their ability to tell powerful stories, in a genuine way, rather than on their fame. As such, increased focus will be put on the compliance and brand safety of the content being created.
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2022 was an interesting year in the creative industry and expectations of regulations towards the digital media marketing industry were met – a sign the sector is maturing. Now influencers and brands engaging them are aware that relatability and authenticity can’t be compromised against the appropriateness of the content being used to advertise.
I agree with the government’s attempt to regulate the influencer marketing industry. Interestingly, from conversations I have had with brands, over half said it was up to the government to regulate, as opposed to another set that thinks it is the responsibility of social platforms while most influencers I have spoken with say creativity should not be regulated.
Realistically, the influencer marketing industry needs to be on board, and brands and business owners need to tie the condition of vetting content into briefing and contracts, stating that they will not work with those who will not submit their content to ARCON’s vetting.
