Ethics and Sustainability in Micro-Influencing: Why the Responsible Choice is the Right Choice
Influencer marketing is growing rapidly. In the beauty and wellness space alone, the market is valued at $511bn in 2021, up from $483bn in 2020. By 2025, this is projected to hit $784.6bn, which means significant opportunities for influencers in this buoyant landscape.
But the market is not just growing along its pre-existing lines — it's also becoming more global. Looking at the beauty and wellness space example, we can see that around 46% of revenue is coming from the Asia-Pacific region, with around 24% and 18% coming from North America and Western Europe, respectively. Eastern Europe, Latin America and Africa are each contributing between 3% and 8% of total global revenue.
This is great news for micro-influencers seeking to grow their revenue and make macro-level income over the next few years, but it also means a fresh set of responsibilities. With such a dynamic and valuable market — and with so many consumers tuned in to the message influencers are delivering — today's digital entrepreneurs need to be more than just successful. They need to be ethical and sustainable too.
Let's take a look at this in more detail, exploring what it means to be a sustainable micro-influencer and why an ethical approach is so important as you monetize your channel.
Ethical Influencers Make a Real Impact
First and foremost, responsible and sustainable practices are the right moral choice for today's micro-influencers. You care about the environment, and you care about social issues, so why not make this a part of your business model? If you can build your revenue, making a macro-level income as a micro-influencer while remaining socially and environmentally ethical, you will be able to make a real difference.
The top 3,000 companies across the world are creating around $2 trillion of damage to the environment each year. As global governments appear reluctant to legislate and rule meaningfully on these matters, it may be time for influencers to take matters into their own hands, leading from the front as they promote more ethical behaviors for businesses and consumers alike.
Customers Are Becoming More Engaged in Sustainability
Today's customers genuinely care about sustainability and responsibility in the market, and they are prepared to demonstrate this in their purchase behavior. Statistics from 2020 found that 90% of consumers say they are more likely to buy products that are ethical and sustainable, while 85% said that brands should be more transparent when it comes to issues of sustainability.
Other studies have identified similar results. For instance, 97% of women consumers said they would switch to a female-founded brand that gave back to environmental and social sustainability causes.
Consumers Value Great Guidance
Consumers have valued guidance from brands on issues of sustainability and responsibility for many years. However, in the Covid-19 — and, hopefully, the post-Covid-19 — landscape, this has become even more important.
Influencers certainly have a role to play here. By communicating with audience members in the market, influencers can provide a critical voice — one that offers effective guidance on how to live the responsible, ethical, sustainable lives we all crave. The desire is certainly there, and influencers will need to take the lead on these issues as they help shape consumer behavior in the coming years.
Influencers Need a Genuine Point of Difference
We've already touched upon the real impact that influencers can make across society — both domestically and in the global landscape. We've also seen how responsibility makes great business sense, as well as bringing about positive changes among consumers. But there is more to consider — not least, the high levels of competition out there in the market.
The market is flooded at the moment, driven forward by the huge amounts of micro-influencers who are working to grow their revenue and achieve significant successes. This does not mean that influencers should consider another career path — now is the time to leverage this growing space and make money as an influencer. It simply means they need to be smart about separating themselves from their competitors.
By proving your commitment to sustainability and responsibility, and by demonstrating that you are serious about ethical practices, you can create a key point of difference between you and other influencers in the market. This is going to be critical as you seek to solidify your market share.
Gaining the 'Ethical Influencer' Badge
The team at Beusail is committed to making the beauty and well-being space an ethical and sustainable one. This means recognizing the efforts of influencers who are serious about making positive change happen. Wear your ethical and sustainable credentials loudly and proudly as a micro-influencer, growing your profits to macro-levels in the process. Get the Ethical Influencer badge with the Beusail Academy. Reach out to the team today to learn more, or sign up to get started with Beusail.