Influencer marketing is an industry that’s constantly moving, and that isn’t about to change anytime soon. Right now it’s gearing up for some big changes, presenting new challenges and opportunities for marketers.
Predictions show that in 2024, 67% of marketers will significantly increase their spending on influencers, and 23% will allocate almost half of their total budget to it. As popularity and demand increase, it's important to pay attention to the trends that are set to shape the industry in the coming year. To help you out, we’ve identified seven influencer marketing trends that will dominate 2024.
AI and personalisation
The integration of artificial intelligence (AI) and personalisation is transforming everything it touches including influencer collaborations. It now provides brands with new tools and insights to enhance campaigns to achieve great success.
One area in particular where AI is going to make a significant impact is in the influencer discovery process. Advanced algorithms analyse vast datasets to identify the most suitable influencers for specific campaigns, considering factors beyond follower count.
That’s not all. This year we are going to see this trend evolve in a few other ways:
- Optimising content: AI will help analyse past performance and engagement data to can suggest content formats, topics and styles that are likely to resonate with their target audience.
- Verifying authenticity: Algorithms will be used to analyse behaviour to distinguish between genuine and artificial engagement.
- Track performance: AI can provide real-time data and actionable insights to optimise future strategies.
The marriage of AI and influencer marketing will not just be a trend in 2024 but a fundamental shift, ushering in a new era of precision, efficiency, and creativity in digital advertising. Finding the right balance between AI and authenticity will be the key thing this year.
Long-form content makes a comeback
In a surprising move that has played a significant role in the resurgence of long-form content, TikTok, the renowned short-form video platform, expanded its video length limit to 10 minutes in 2022. This departure from the traditional brief format has paved the way for content creators to delve deeper into storytelling and share more comprehensive narratives. The impact of this decision is evident, with users and brands alike adapting their content strategies to leverage the extended time frame.
Moreover, rumours circulating in the industry suggest that TikTok is considering another substantial increase, potentially extending the video limit to 15 minutes. If this speculation materialises, it would further solidify the platform's commitment to accommodating longer, more immersive content and contribute to the broader trend of embracing extensive narratives across various digital platforms in 2024.
Shift from influencers to creators
The landscape of creator commerce is experiencing a shift within the realm of influencer marketing, where big personalities primarily associated with content are giving way to a new wave of creators. Unlike influencers, these creators prioritise the substance of their content over their personal brand, marking a departure from the era dominated by charismatic personalities.
According to surveys conducted by CreatorIQ, a majority of influencers now identify themselves as content creators, with terms like "creator" and "influencer" used interchangeably, while a mere 6% still prefer the title of just influencers. This evolving dynamic is reflected in the preferences of brands, which are increasingly inclined to collaborate with content creators over traditional influencers.
Notably, data from Influencer Marketing Hub indicates a significant shift in strategy, with 39% of businesses planning to engage nano influencers. In comparison, only 12% have intentions to collaborate with mega or celebrity influencers. This transformative trend underscores the growing importance of content-centric partnerships in the ever-evolving landscape of influencer marketing.
Influencer content turned into paid ads
Brands are recognising the inherent value in repurposing authentic influencer content for paid advertising campaigns. This trend involves transforming the engaging and relatable content produced by influencers into targeted advertisements, seamlessly blending promotional messages with the organic aesthetic of the influencer's feed. By leveraging the credibility and trust that influencers have cultivated with their audience, brands can deliver promotional content that feels more genuine and less intrusive. This innovative approach not only maximises the impact of influencer collaborations but also streamlines the ad creation process for brands, offering a symbiotic relationship where influencers become key contributors to a brand's advertising strategy.
As this trend gains momentum, it signals a shift towards more cohesive and harmonious integration of influencer-generated content into the broader advertising landscape.
Building long-term partnerships
There seems to be a notable strategic shift of brands towards fostering long-term collaborations with influencers. Recognising the enduring benefits of sustained partnerships over one-off campaigns, brands are increasingly prioritising relationships that extend beyond a single promotional effort. This evolution is grounded in the understanding that long-term collaborations allow influencers to develop a more authentic connection with their audience, resulting in more genuine and impactful content.
By forging enduring relationships, brands not only benefit from the consistent representation of their values and messaging but also tap into the influencers' deep understanding of their audience's preferences. As brands seek to cultivate loyalty and trust with consumers, the move towards prolonged influencer collaborations in 2024 reflects a commitment to building meaningful, enduring narratives that resonate with the target audience over time.
Whilst this might be no surprise to most people, TikTok is positioned to challenge Instagram as the most vital influencer marketing channel. Users are spending an average of 31 hours, and 14 minutes on TikTok compared to just 13 hours and 49 minutes on Instagram. With global users spending more time on TikTok each month than other social media platforms, it's no doubt TikTok is the place to be.
In 2024, TikTok wants to grow and evolve its Shop offering. Their vision is to onboard more brands, with a wider ambition to develop Shop into a large-scale closed-loop social commerce offering. Brands will be leaning on creators to boost their presence, especially those who saw major growth on the platform in 2023. Brands like House of Sunny have plans to collaborate with content creators with a large presence on TikTok to tap their audiences after huge success last year. Many others will hop on this emerging trend quickly in 2024 as they seek to capitalise on TikTok’s vibrant and rapidly growing database.
Sustainability and social responsibility
Consumers are increasingly prioritising brands that align with ethical values and contribute positively to social and environmental causes. Influencers, recognising their role as agents of change, are championing sustainability in their content and collaborations.
Brands are partnering with influencers who share their commitment to social responsibility, fostering authenticity and resonance with socially conscious audiences. From promoting eco-friendly products to supporting charitable initiatives, the influencer marketing sphere is evolving to become a powerful force for positive change. In 2024, the intertwining of sustainability and social responsibility is not merely a trend but a pivotal shift, reflecting the collective consciousness of both influencers and consumers towards creating a more responsible and purpose-driven digital ecosystem.
The key takeaway for success is to understand that as the industry continues to evolve, staying ahead of these trends will be crucial for marketers aiming to harness the full potential of influencer marketing in the years to come. For those looking to leverage these trends and elevate their brand presence through influencer campaigns, we're here to help. If you're seeking guidance or support in navigating this exciting space, feel free to get in touch with the team.