Influencer Marketing Trends You Must Be Ready For In 2024 – Part 1

As brand marketers and corporate communications professionals dive into 2024, we’re already contemplating what lies ahead for the year, particularly in the realm of influencer marketing. With a global spending of $34 billion and US spending at $26 billion dedicated to influencer marketing initiatives, the digital marketing industry is evolving rapidly.

In 2023, our clients’ emphasis was placed largely on authenticity, forging long-term partnerships with influencers, and diversity of content/partners. All topics discussed locally at Minneapolis/St. Paul’s Social Media Breakfasts and nationally, at ADWEEK’s Creatorverse conference in New York City.

At Maccabee, we applied many of these influencer strategies successfully in collaboration with clients such as Kemps Dairy and Handy Products. Let’s take a look at 3 influencer marketing trends agencies and their clients can expect to see from bold brands and multi-channel creators:

Emergence of New Digital Platforms

The landscape of social media platforms has undergone significant evolution, with Instagram, TikTok, and YouTube playing pivotal roles in amplifying influencers’ reach and impact.

The emergence of platforms such as Lapse and BeReal potentially introduce new opportunities for influencers to connect with audiences by leaning into authenticity through the candid ‘journal-like’ atmosphere created on the platforms. Being followers often crave getting more genuine, behind-the-scenes look into influencer life — it will be interesting to see if the brand starts to harness some of these more niche platforms for paid collaborations.

We can expect to continue to see more of these niche platforms emerge this year —centered around people documenting shared interests such as hobbies, careers, life moments, or hardships. This can create fertile ground for targeted marketing for brands to position themselves as authorities within these communities, fostering authentic connections and meaningful engagement. Staying vigilant in identifying and leveraging these emerging channels is key for marketers to stay ahead in this dynamic landscape.

Evolution of Online Content Formats

The digital landscape has witnessed a shift with the rise of short-form video content (30 to 60 seconds) becoming a dominant force in influencing user engagement. The sustained popularity of platforms like TikTok has reshaped content consumption habits, making it imperative for influencers and marketers to comprehend the nuances that differentiate platforms and tailor their strategies accordingly.

With TikTok becoming the go-to choice for users seeking quick, entertaining, and easily digestible content, many brands have capitalized, such as Dunkin Donuts and the San Diego Zoo.

In response to the surge in short-form video dominance, influencers and marketers must recalibrate their strategies. This involves not only creating content tailored to the unique characteristics of each platform but also staying attuned to evolving trends within short-form video content such as adapting influencer marketing strategies encompasses collaborating with influencers who excel in crafting engaging short-form videos, leveraging trends (such as ‘Get Ready With Mes, ‘Day in the Lifes’, etc.) and harnessing the interactive features specific to each platform.

Micro-Influencers and Authenticity

Over the last year, we’ve seen a noticeable shift towards embracing micro-influencers (influencers with less than 100K followers), emphasizing authenticity and a more intimate connection with audiences. Evaluating the rise of micro-influencers is crucial for understanding their appeal and impact on audience trust.

To leverage the authenticity inherent in micro-influencers, brands and influencers must develop thoughtful collaboration strategies. This includes aligning with the micro-influencer’s values, engaging with their community online, and capitalizing on their storytelling capabilities.

Despite having smaller follower counts, these influencers demonstrate elevated levels of engagement. Brands are recognizing that these influencers, with their committed and targeted follower base, often yield greater effectiveness in terms of driving engagement and conversions compared to more general influencers.

Rather than aiming for a broad appeal across diverse audiences, focusing on influencers with smaller audiences prioritizes establishing genuine connections within specific communities and interests. It’s like having a discussion with a neighbor instead of addressing a crowd—more personal, more relevant, and often, significantly more influential.

Stay Tuned for Part 2

As we enter 2024, the influencer landscape is full of potential, for both B2C and B2B marketers. According to a recent Influencer Marketing Hub study — 67% percent of respondents plan to increase their budget for influencer marketing initiatives in 2024. Keeping up with these trends will be crucial if you want to navigate this constantly evolving terrain successfully and create partnerships that stand out among the clutter.

The fun doesn’t stop here — stay tuned for part 2 of this blog for more thoughts on influencer marketing trends for 2024.

To learn more about Maccabee’s influencer marketing services, visit: https://maccabee.com/what-we-do/influencer-marketing/