About 70% of companies use influencer marketing or plan to start this year. And you? How about taking advantage of this market worth more than $20 billion?
If you need help getting started, consider hiring a Social media manager on Codeur to support you in setting up a strategy.
And to stay one step ahead of the competition, discover the 14 major trends that will shape your influencer marketing in 2024 !
1. TikTok will continue to grow
When TikTok took off in early 2020, influencers closely followed. As they accumulated followers on the platform, they quickly attracted brands looking for posts and sponsored ads.
Since then, the social network's growth has been staggering! In July 2020, the platform had 730 million active users. In 2022, it surpassed the one billion user mark.
In France, 15 million members are active each month (it was 4.4 million in 2019). 7 million French people check the social network daily.
There is no doubt that TikTok's popularity will continue to grow throughout the year, among both influencers and brands. The platform could even dethrone Instagram as the king of influencer marketing in 2024.
According to studies shared by TheB2BHouse, marketers will nearly double their influencer marketing investment on TikTok by 2024. In 2022, influencer marketing spending on TikTok amounted to almost $800 million. By 2024, it will exceed $1.3 billion!
What makes this figure even more impressive is that it is nearly 10 times higher than what they spent on it in 2020.
If you want to boost your influencer marketing, TikTok is the social network to include in your strategy. However, bear in mind that nearly half of their users are between 18 and 24 and that 60% are women.
Also read : Marketing attribution: where do your customers come from?
2. The rise of even more specialized influencers!
Specialized influencers will help you stand out from the competition. They have generally built a community around a niche interest. Result: their followers are more engaged and more likely to follow their recommendations.
However, with new influencers launching every day, the "old" leaders have been forced to become even more creative and to specialize further.
This is good news for businesses, because a better fit with the brand means an authentic, well-aligned partnership.
Furthermore, this means they can spend less money while achieving an excellent return on investment by targeting an ultra-specific audience. In addition, niche influencers give your business an expert voice.
For the find, you need to get off the usual radars and lower certain metrics (notably follower counts). You will have to look for them on specialized forums, on atypical blogs and via very targeted hashtags on social networks.
Niche influencers are particularly useful for the arts, gastronomy, history, or culture sectors in general.
3. Data makes its way into influencer marketing
Gone are the days when brands focused on vanity metrics such as an influencer's follower count. Now they rely on deeper data to make decisions.
This change will make platforms influencer marketing even more effective. They will be able to provide brands with information such as:
- Audience demographics, to better understand the profile of their community;
- Degree of affinity with the brand;
- Past performance of influencers;
- Backups of each posted piece of content;
- Use of discount codes;
- URLs to track to measure campaign return on investment.
4. Twitch is taking hold
Twitch is a live streaming platform that is gaining popularity thanks to influencer marketing.
It currently has 30 million daily visitors. And, contrary to popular belief, they aren't just gamers! Twitch users are interested in other topics like art or cooking.
The main advantage of this platform? The content isn't filtered, since it's broadcast live. Twitch offers more authenticity and trust for brands, especially because subscribers can respond to you in real time. The audience is therefore more engaged with you!
So, why not include Twitch influencers in your marketing strategy? You will be able to:
- Ask the influencer to mention your brand at the start of their stream;
- Send products to be unboxed live;
- Provide streamers with your brand's products to use during their videos.
5. Instagram Reels, a must-have influencer format
To date, Instagram is the most lucrative social network and the most sought-after in influencer marketing. It's simple: the network keeps growing!
Widely favored by younger users, the platform has made many tools available to influencers and offer users a condensed version of all their important apps (Stories, Reels, Instagram Live), etc.
Furthermore, the Reels format is gaining traction with brands and users. These short, vertical videos are now found on many social networks (Facebook, TikTok, Snapchat and even YouTube).
More than 45% of Instagram users interact with a Reel at least once a week, according to Instagram's internal data (February 2022). In addition, this format generates 22% additional engagement according to Earthweb data.
When launching your influencer campaigns, it is relevant to ask content creators to prioritize this format to showcase your brand and reach your visibility goals.
6. Social responsibility at the heart of influence
In 2023 a large number of influencers spoke out on social issues. This had an impact on how they work with brands and the content they share.
In 2024, influencers will continue to scrutinize the brands they partner with and refuse those that do not align with their values.
Their main priorities will be brands that share their ethics, support the same social causes, produce socially conscious products, and aim for inclusion.
This trend will lead to more authentic and socially responsible campaigns. Brands will also benefit from this unique opportunity to engage with consumers, encourage constructive conversations, and build trust.
To manage your image effectively through influencer marketing, select influencers committed to the same causes as your brand and be transparent when contacting them.
7. A more human embodiment of the brand
Beyond social responsibility, humanization lies at the heart of influencer marketing trends. Influencers will need to help bring brands closer to consumers by enabling them to identify with your company's values.
This concerns the tone and format of the content shared. They should be interactive and prompt engagement from your audience.
Furthermore, it is important that influencers respond to questions and comments on sponsored content. Hence the need to work with trustworthy influencers who are close to their audience.
Also read: 10 examples of viral marketing campaigns
8. Storytelling to convey messages
Do you like being told stories? Influencers and brands have noticed since storytelling-based ad campaigns generate more ROI. Establishing a relationship of trust between a brand and an influencer is essential.
If the brand tells its story with authenticity, the influencer will be more inspired to talk about it and generate emotions.
A good relationship with influencers in a sector makes it possible to improve the brand awareness, and of course, increase sales. Indeed, a sponsored post with quality content and a more human approach will have more impact than a simple product test.
9. Sponsorship transparency
You have probably noticed that many influencers label some of their content as sponsored.
More and more, the "sponsored post" label is finding its place without harming either the influencer's image or the conversion rate. Brands and influencers have understood the importance of being completely honest and transparent with their audience, who will continue to trust them.
For followers, it doesn't matter whether the content is sponsored if it is high-quality.
In the United States, the "sponsored post" disclosure is mandatory.
Do you want to establish your reputation abroad? Discover the guide to finding influencers abroad offered by Traduc.com !
10. Micro and nano influencers are on the rise
Nano and micro-influencers have small but engaged communities. Their product recommendations are often perceived as more authentic… All the more so now, when various reality-TV influencers are accused of promoting counterfeits, illegal products, or items harmful to health.
Since these creators' audiences are more attentive and more likely to follow their advice, brands will pay even more attention to them and entrust them with new campaigns.
11. Diversity and inclusivity at the heart of influencer marketing
Your consumers want to be represented. Although there may be a typical profile for your audience, you likely have a heterogeneous customer base.
Inclusivity and diversity are now important values for users on social networks. Leading LGBTQ+ influencers on YouTube have over 10 million followers.
There are even influencer agencies dedicated to improving representation and helping brands include diverse profiles in their campaigns.
Today, both influencers and consumers scrutinize companies' social media messages and campaigns to ensure everyone is represented. So, for your next partnerships, keep that in mind! Rather than choosing a macro influencer, select several micro or nano influencers from different backgrounds, religions, genders, or styles.
Demonstrating your tolerance and inclusivity to your community improves your image and can attract a new audience.
12. Influencer marketing meets affiliate marketing
Do you think influencer marketing and affiliate marketing are two different activities? In reality, they can overlap to boost your sales.
Affiliate marketing involves an "external person" promoting your products and services to their community.
Most affiliates are bloggers or traditional publishers who include product/service demonstrations, ad placements, and/or simple links on their sites.
Sometimes these content creators promote multiple, sometimes competing, affiliate programs to increase their chances of earning commissions.
So, instead of choosing only bloggers or customer ambassadors, why not turn to influencers? They have a different approach to working and promoting. They recommend products they've already used or that they trust.
Their business model relies on the trust of their community. As such, these opinion leaders carefully choose the companies they work with.
On the brand side, they can negotiate an exclusivity agreement to prevent the influencer from also promoting competitors.
If you have an affiliate program, consider offering it to influencers!
13. The sudden rise of UGC
UGC, or User Generated Content, is the new trend shaking up the influencer world. Coming directly from users, this content is generally shared on online platforms such as social networks, forums, blogs, and video-sharing sites.
Typically perceived as authentic, UGC comes directly from users. Companies can encourage the production of this type of content by running campaigns, contests, or offering attractive incentives for content creators to share their experiences related to a product or service.
This approach can prove effective in increasing user engagement, developing brand recognition, and creating a dynamic community around a given product or company. It allows users to become influencers for the brand themselves.
14. AI will create the next successful influencers
Open to the general public for more than a year, generative artificial intelligence has for many years been working on creating characters that could be real people in everyday life.
One can notably take the example ofAitana Lopez. You don't know her? That's normal, she doesn't exist! This model, generated 100% by artificial intelligence, is one of the first 2.0 influencers. Generating tens of thousands of euros thanks to her content, she is undoubtedly the next generation of influencers who no longer need to exist to earn money.
What is an influencer?
An influencer is a social media user who enjoys a certain level of notoriety.
Generally, they have a large community of followers for whom they represent a point of reference in their field.
Like a prescriber, their words are listened to and their opinion is followed. The influencer proves to be an ideal partner for brands seeking recognition and visibility.
What is influencer marketing?
Influencer marketing is a strategy that aims to target a specific audience on social networks to promote a product or service through influential people. A collaboration agreement is concluded between a brand and an influencer to broadcast or promote its products in order to achieve various objectives.
Depending on the company, this can mean increasing its visibility with a relevant community, boosting website traffic, recruiting followers on social networks, or increasing sales.
Achieving this goal is made possible thanks to the influencer's notoriety and credibility. Indeed, they are able to share your news, messages, or updates in a professional and authentic way with their audience. Their followers, seeing them as a reliable prescriber, will be more inclined to listen and thus discover your brand.
Why is influencer marketing interesting for brands?
An influencer marketing strategy can help brands to:
Expand their visibility
Choosing an influencer based on the theme or 'niche' where you are positioned allows you to connect with potential customers and expand your market share.
Encourage exchange and interactions
The influencer can encourage their followers to interact with the brand. This translates into recruiting new subscribers, as well as increasing the number of comments, likes, or shares on your posts.
Improve brand image
Users perceive the influencer as a reliable source of information. When they speak about your brand, they immediately convey a positive and credible image of it.
Increase sales
The fact that an influencer features a brand or product on their blog, YouTube channel or social media profiles immediately increases the brand's awareness and, consequently, sales.
Achieve an excellent return on investment
According to Convince & Convert, influencer marketing generates, on average, €5.75 in revenue for every euro invested.
How to set up an influencer marketing campaign?
Do you want to launch an influencer marketing campaign? Here are the steps to follow:
1) Define an objective
2) Develop a budget
3) Write the brief to send to influencers
4) Research the most relevant influencers
5) Contact the selected influencers
6) Sign contracts and launch the campaigns
7) Analyze the results
The different types of influencers available (nano, micro, macro…)
There are different categories of influencers, each corresponding to a specific budget and need:
The nano-influencer:
With fewer than 5,000 followers, this influencer has a limited but very loyal audience. It's the right choice if you have a niche market, a small budget and/or want to diversify the number of influencers in your campaigns.
The micro-influencer:
Their community ranges from 5,000 to 30,000 followers. Very loyal, they engage with their posts and follow links easily. This is the ideal type of influencer for small-scale campaigns with a limited budget.
The macro-influencer:
Their community ranges from 30,000 to 300,000 followers. If you have a larger budget or want to work with only one or two partners, this is the ideal choice. However, be careful to choose an influencer specialized in your field.
The celebrity:
Famous people have communities of millions of followers. Rare as they are, they give an immediate boost to any brand. However, their fees are costly and often out of reach for small businesses.
How to choose the right influencer?
Knowing the types of influencers that exist, you should consider which one best fits your goals and your budget.
As for the other criteria to take into account when choosing the right influencer, you should analyze:
- Their preferred social networks;
- Engagement rate per post;
- Tone of the comments;
- Subscriber profile;
- The quality and theme of their editorial line;
- Brands they collaborate with (better to avoid an influencer who works with your competitors).
Our tip for doing influencer marketing
To succeed in influencer marketing, start by clearly identifying your needs and objectives. When selecting partners, go beyond vanity metrics by focusing on follower profiles, engagement on posts, and the values the influencer promotes. Of course, don’t forget to include the trends from this article in your strategy!
Need a community manager or an influencer marketing specialist? ? Post your project on our freelance platform Codeur.com to receive numerous quotes!
