5 Influencer Marketing Trends To Watch In 2024
5 Influencer Marketing Trends To Watch In 2024

There is no question influencer marketing has become one of the most popular and effective forms of advertising. Theglobal influencer marketing market valuestood at 21.1 billion U.S. dollars as of 2023, having more than tripled since 2019. 

 

As we step into 2024, advertisers gear up for big changes that are likely to shake up the industry. What data can brands expect from influencer marketing campaigns? Will Google disable third-party cookies? How can influencers contribute to a more effective media mix?

 

Here are the top trends and predictions you should keep your eye on, in 2024:

 

1. strategic use of first-party data

2024 has multiple challenges brewing for the advertising industry. A cookieless world is top of the list. Google is leading the way by planning to disable third-party cookies for 1% of its user-base in Q1. They reportedly aim to go straight from that 1% to 100% when the time comes. Many marketers are waiting to see exactly what this looks like, but undoubtedly this is a time of uncertainty. Failing to plan is planning to fail. First-party data in influencer marketing could be the way forward in future proofing brand campaigns. In 2024 savvy marketers will be making sure their partners provide the appropriate API integration and access to first-party data that allows them to reach desired audiences effectively.

2. Measuring cross-platform performance

How many times have you looked at influencer marketing PCAs, wishing there was a unanimous metric to marry up cross-platform performance? You are not alone. With increasing spends in 2024 and the appetite to scale a social media mix, brands will be looking for clearer indication of performance against KPIs. The call for better reporting and transparency in the influencer space has been an ongoing dialogue. 2024 will see this conversation moving forward. Taking our clients feedback on board we are proud to be at the helm of innovation, launching TAKUMI 3.0 in early 2024.

3. Supporting tv through social

A recent TAKUMI brand lift study found influencer marketing ranks +14 PTS higher than TV for anchoring product messages. Surprisingly, to date, there are still brands that run influencer marketing as isolated activations without considering their full media mix. We are all chronically glued to our phones. The brands that want to strengthen ad recall and, consequently, conversion, will prioritise influencer marketing as a way to support TV. They will recognise it as a relevant channel that speaks to today’s consumer lifestyle and content consumption habits. 

 

In short, brands will seek a balanced media mix stretching from the big screens mounted in our homes, to the smaller ones we hold in our hand.

Bangkokthailand,-,August,06,,2021:,People,Hold,Smartphones,In,Different

4. Increased used of TikTok & IG as a search tool

In 2023 almost 40% of Gen Z used TikTok or Instagram as a search tool. Google tried to catch up by integrating these platforms on their result pages but is it a little too late, when younger generations don’t even think to open Google? 

 

There is no question 2024 will see the percentage increasing, possibly as high as 60%. The scale at which content gets shared, hourly, specifically on TikTok is unbeatable. Meaning users are not only among the first ones to get the latest information but it also comes from those they trust the most – their peers. Undoubtedly, brands that consistently insert themselves in the conversation will reap the rewards and stand out from competitors.

5. Diversified talent across saturated verticals

Influencer marketing sees many brands from the same vertical, poaching the same talent. This is particularly relevant to food, fashion and beauty. The rules are changing. Whilst there’s still proven value in beauty brands working with beauty creators, for example, we see a massive shift in diversifying talent. If your brand is looking to retain authenticity and continue to connect with audiences, you have to step into 2024 thinking – what other groups of influencers can bring a fresh angle to my upcoming campaigns. We encourage clients to think big and take full advantage of our vast network, by leveraging creativity from talent that isn’t typically on their radar.

If you are looking to deliver best-in-class influencer marketing campaigns in 2024 – book a TAKUMI demo today