Influencer Marketing in 2024: Key Trends You Need to Know

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Influencer marketing has always been a significant trend; in 2024, that trend will continue. In 2024, the influencer marketing world is developing with exciting new trends, reflecting a combination of technology, social media, and consumer behaviour.

At our Digital Marketing and Creative Agency, we work with many influencers in both Canada and the United States. We've assisted with many successful influencer marketing campaigns generating an ROI, and that is because we always stay ahead of the times. That said, if you are looking into influencer marketing, knowing what is trending in the industry is critical.

In this blog, our digital marketing experts dive into the key trends shaping influencer marketing this year.

Live Shopping Experiences

E-Commerce is developing, and digital platforms are making it more efficient than ever! Platforms like Instagram, TikTok, and Amazon are improving their live shopping tools, enabling real-time, immersive shopping experiences. Influencers are increasingly collaborating with brands to host these live shopping events, a trend expected to grow significantly in 2024​​. This will change the e-commerce world dramatically, and it will be essential to understand this trend thoroughly to implement it within your marketing, whether you're a business owner or marketer.

Diversity and Representation

There's an increasing focus on diversity in influencer marketing, and rightfully so. Brands partner with agencies like Bold x Collective, representing underrepresented groups and ensuring their marketing campaigns reflect societal diversity. We prioritize media representation for diverse groups.

Long-Term Influencer Partnerships

Brands are shifting from one-off sponsored posts to long-term, ongoing collaborations with influencers. This approach reflects the trend in digital advertising, where sustained campaigns are seen as more effective for brand engagement and sales​​. As a marketing strategist, I always say this: Consistency is everything!

Rising TikTok Influence

Are you using TikTok yet? TikTok continues to gain traction in the influencer marketing world. With over 1 billion users and high user engagement, brands are increasingly investing in TikTok for influencer marketing, with spending expected to exceed $1.3 billion by 2024​​​​. At our agency, we've been focusing heavily on TikTok marketing for clientele where it makes sense, and we have seen a fantastic return on investment.

Gen-Z's Focus on Self-Care

Undoubtedly, the Gen-Z audience has been quite influential, setting trends on social media for the last few years. Gen-Z influencers currently emphasize self-care and authenticity in their content, often partnering with brands that align with eco-friendliness and social consciousness. This trend reflects the broad consumer behaviour of Gen-Z, who are more focused on personal well-being and ethical consumption​​. This has also been reflected in many businesses' brand strategy decision-making, taking a more ethical approach overall.

Utilization of Artificial Intelligence (AI)

AI is becoming a crucial tool in content creation. Influencers and brands leverage AI for various purposes, including caption generation, branded imagery, and AI-generated content and personas. This trend is set to expand further in 2024​​. If you aren't already using AI, it is worth exploring this year, as it can be a fantastic helping hand.

Exclusive Content Behind Paywalls

Influencers are experimenting with exclusive content accessible through paywalls or subscription models. This includes features like "close friends" on social platforms and partnerships with platforms for special content access​​. Numerous platforms are offering this subscription model, and it is said to develop further in 2024.

Growth of Affiliate Marketing

The affiliate marketing industry is growing, with predictions of reaching $36.9 billion by 2030. Brands and influencers increasingly utilize tools like Amazon storefronts and LTK landing pages to drive sales and enhance social proof​​. This is an excellent opportunity for influencers to generate passive income through strategic content creation and also excellent for brands with increased exposure and opportunities to get sales from successful influencers.

Influencer Content as Paid Ads

Brands focus on repurposing high-quality influencer content for web pages and paid advertisements. This strategy aims to increase engagement and conversions by targeting niche audiences with content that appears organic​​. We focus heavily on this tactic at our agency, Bold x Collective,. If an influencer video is performing well and generating sales, chances are that if you set up an ad using the same creative, it will generate sales. Be highly strategic with this approach!

Influencers Turning into Entrepreneurs

Many influencers leverage their platforms to launch their businesses, creating new brand partnership opportunities. Collaborations between brands and influencer-owned companies are becoming more common, offering mutual benefits​​. When pursuing marketing, keep an open mind. If you align with an influencer, don't hesitate to consider a potential relationship.

First-Party Data Utilization

Brands focus more on first-party data to create personalized and impactful influencer marketing strategies. This approach allows for more targeted and relevant campaigns, enhancing engagement and conversion rates​​. What do you think works better? A tailored approach or guesswork? Let the data tell all!

Social Commerce and SHOPPING

Social media platforms are incorporating shopping features, quickly transforming the user experience from browsing to buying. It's rather simple! For example, Instagram's "Swipe Up" feature has turned Stories into virtual shopping aisles, significantly influencing sales​​.

Employee Advocacy and User-Generated Content (UGC)

There's a growing trend of employee advocacy and UGC in influencer marketing. Brands encourage employees and customers to share their authentic experiences, leveraging the trust and relatability of these voices to enhance brand credibility​​.

Investing In Influencer Marketing Trends

Many brands are investing heavily in influencer marketing, with industries like beauty, fashion, gaming, and media leading the way! These trends indicate a more sophisticated and diverse approach to influencer marketing in 2024, emphasizing authenticity, long-term relationships, and leveraging the latest technologies to enhance audience engagement. Brands and influencers must adapt to these dynamics to remain relevant and thrive in this rapidly changing digital world!

Want to learn more about how you can use influencer marketing in your digital marketing approach? Contact the marketing team at our Toronto Digital Marketing Agency, Bold x Collective. We can't wait to learn about your brand goals!