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Influencer marketing shows no signs of slowing down in 2024 as it continues to prove its worth to brands around the globe. It’s engaging, it works and is cost-effective compared to other channels. It’s no surprise, then, that 82% of marketers report having a dedicated budget for influencer marketing, which has blossomed into a $21 billion industry.
With more budget at stake, marketers must keep pace with the trends taking shape. This year will unlock doors of opportunity, but there will also be uncertainties about the impact of political, economic and global matters. Those who plan can be prepared to maximize the value and minimize their risk.
With that backdrop, here are five trends that I expect to take shape or be more pronounced in the coming year.
#ElectionOnslaught
This election year, influencer marketing is going to look starkly different. Sure, there will still be YouTube unboxing videos, “get ready with me” TikToks and recipe reels, but also expect a large host of influencers imploring followers to make their voices heard in November.
News site Semafor recently stated that 2024 is shaping up as the first serious influencer election. Influencer marketing provides organizations and campaigns with a treasure trove of benefits, such as trusted spokespeople, tremendous reach with a variety of audiences (including younger generations who don’t watch traditional TV), the ability to amplify over social, a healthy amount of message control, little regulation and a price tag that’s easy on the coffers.
While there will be a litany of #2024Election posts from influencers, they won’t take the form of easy “vote for” messages. Since the last presidential election, the space has evolved and matured significantly with strategists and specialty agencies working together armed with real-time polling and measurement.
Messages are bound to be more nuanced. To that end, expect to see a cornucopia of issue-based messages, values-driven creative, along with the strategic plea to simply get out and vote. Success on that call to action alone can sway an election.
One interesting byproduct of this phenomenon is that when all is said and done, we will likely know a whole lot more about some of the people we follow and are influenced by online—their ideals, their values and what’s important to them. This will provide marketers with insight beyond follower count, demographics and past engagement rate to inform their influencer selection. This newfound knowledge will make it easier for marketers to choose influencers who best align with their company values and beliefs.
