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The growth of the influencer marketplace is predicted to be tremendous. When reflecting upon this industry as a designer, one may ask themselves how they can assist with this demographic’s branding power. Although it appears as though the strength in this business type relies heavily upon relationship building, is there a need to incorporate traditional branding methods into this business model?
Longevity of Business Practice
The requirements needed to be a successful influencer such as recognition and name familiarity have already been fundamental to brands across other industries as well. When analyzing the success of these businesses, a compelling case is made for the need of professional branding to achieve longevity. The State of Influencer Marketing in the Beauty Industry provides the insight of Influencer Marketing Hub’s CEO, Werner Geyser, identifying the majority of influencers as being thirty-four years or younger. Does this mean that the target market for this profession is also restricted? It may be too soon to tell.
Being as this career choice is predominately popular with Generation Z, it is possible that the industry will end up expanding its reach in demographic with time. In effect, it may be possible that the demand for professional branding services for people in this industry would be secondary to personal familiarity. With an audience growing along with influencers, the overall age demographic may also evolve which would also mean that the traditional analysis of reviewing the trait for business projections may be irrelevant. In terms of visual communication and design, this would be a matter of importance in that decisions would need to be made which could ultimately reach a target market of an undefined age group.
Regardless, if one wants to maximize their profitability, it may be worth reviewing the strategies of other businesses. Erin Nizri, CEO of Leaders shares his insight in the Forbes article titled, Why Are More Influencers Launching Their Own Brands? Nizri states "influencers are driven to launch brands because they feel that their appeal as brand ambassadors could wear off, and they want to secure their future as creators." Whether or not the need to launch new products or services is necessary for securing a solid future, from a business standpoint the idea of expanding into these additional marketplaces seems to be a strong strategy.
Branding and Business Growth
Diversifying any business can reduce risk by spreading out revenue streams. Within an industry which is projected to have such tremendous growth without having a substantial amount of history for the evaluation of estimated, long-term, projections, it would seem to be in the interest of influencers to provide stability to their business by introducing their own product lines. This strategy would provide a revenue stream independent from the success of the companies they currently promote while also benefiting from a pre-established customer base.
Similarly to any business, an influencer should have a business plan. Considering additional streams of revenue during the start-up stage of an influencer-based business will assist with being able to establish realistic expectations for marketing and sales projections. By incorporating professional branding services during the initial stages of development, one is also able to create a cohesive presentation which will be at less risk of having to invest in the additional cost of rebranding strategies.
Branding Across Business Types
Although an influencer’s business may start with personal branding, diversification would be similar to creating a new company. That company would be the goods or service which they are promoting. Consideration for the promotion of those goods and services should be just as important as those of the businesses they are currently promoting as an influencer. The main difference would be that there would be an opportunity to have a solid cohesion in branding effort with their own endeavors due to having control over all avenues such as product packaging and promotion.
New York Times bestselling author, Tasha Eurich, PHD shares her knowledge in psychology and business in her Harvard Business Review article Working with People Who Aren't Self-Aware. Eurich states, “95% of people think they’re self-aware, only 10 to 15% actually are." The ability to receive feedback from an external source is one of the benefits received when hiring a professional to assist with your branding strategy. When operating within a time period filled with frequent and unpredictable changes, receiving constructive feedback can assist with creating a strategy which will deliver the message of its intended company mission.
Summary
By considering the presentation of any future goods or products, you strengthen the potential of long-term success by establishing a solid foundation. The utilization of professional branding strategies during the start-up stage of an influencer business may also reduce future rebranding expenses. Thinking in terms of visual brand development alongside personal brand development will undoubtedly assist with consistency and will be more cost-effective overall.
Whether you decide to place emphasis on your name to launch new branches of your business or decide to use color and design to promote a similar energy for product lines, pinpointing this early on in your branding strategy as an influencer will undoubtedly bring ease and security to the life of your business. Viafique would be honored to assist creators in helping them develop a professional branding strategy. Please submit an inquiry via the contact page and share your current and future goals and design needs.
Author
Rebecca A. Crecelius, MFA
CEO | Founder | Managing Member | Designer
Portfolio: rebeccacrecelius.com
Rebecca A. Crecelius, MFA is an artist, designer, and business owner. Her creative background is in fine art, and she has a Specialization in Graphic Design from CalArts. In addition, she has post-secondary education in business and certificates in HTML and CSS coding languages. After discovering a passion for logo design and brand development, she founded Viafique LLC. She looks forward to sharing her knowledge with aspiring business owners and enthusiastic entrepreneurs.
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