7,14 billion USD is the expected number that marketers will spend Influencer Marketing in year 2024. When popularity, Increased demand and spending on marketing activities, What do brands need to do to maintain the upper hand??
- AI is more integrated into Influencer Marketing
Artificial intelligence is revolutionizing the market IInfluencer Marketing. AI tools can analyze huge amounts of data to determine the most suitable Influencer for a brand. This not only saves time but also ensures an exact fit.
“54,5% Marketers are betting big on AI to enhance strategy.”
Recently, the rise of the virtual influencer generation (Virtual Influencer) also attracted attention. They are digital characters created using computer graphics software (CGI), have character and will, works on social media platforms like a true influencer and can bring in almost three times the engagement rate. Big brands are already collaborating with virtual influencers and this trend will continue to increase in the future. It is estimated that up to now there are more 200 Virtual influencers appear all over the world.
- Emphasis on following popular creators across multiple platforms
Following famous creators across multiple platforms has become an important trend in the modern media and entertainment world.. This creates a large community, where fans can discuss, Share ideas and connect with each other. Being present on multiple platforms gives creators a greater degree of control over how they display and manage their personal brand. They can tailor content to suit audiences on each specific platform.
- Influencers will become the key to many Affiliate Marketing campaigns
Influencers are increasingly becoming a decisive factor in Affiliate Marketing strategies. For many campaigns, Their influence not only increases reach but also leads to better performance. An influencer is not only someone who owns a large audience but is also an individual who is respected in a specific field., help the campaign Affiliate Marketing become trustworthy and influential.
The close interaction between influencers and fans creates a trustworthy communication channel, where products or services are introduced organically. Influencers have the ability to build trust and create lasting influence, helps enhance the effectiveness of Affiliate Marketing campaign. At the same time, This also benefits both the influencer and the brand, create one win-win model in today's competitive advertising environment.
- Live shopping will continue to play a larger role in Influencer Marketing campaigns
In spite of, Influencer Marketing often focuses on the online advertising model, but live shopping (Direct shopping) remains an increasingly important factor. Combining celebrity influence with direct shopping capabilities creates an effective way to drive sales and engage with fans.
Influencers not only introduce products but also focus on instructing users how to shop and use products directly.. This helps create an enjoyable and meaningful shopping experience. Besides, Integrating direct shopping links in influencer content helps optimize conversion from intent to purchase action..
Live shopping not only enhances interaction but also brings significant benefits to businesses. Measuring performance and ROI becomes clearer when linked to direct procurement, Helps brands evaluate the true impact of Influencer Marketing campaigns on brand sales and revenue. In response, Amazon, Facebook, TikTok and Instagram have both developed live shopping tools and partnerships through Instagram Live, Tik Tok Live…
- Greater emphasis on diversity and representation
In the field of Influencer Marketing today, The focus on diversity and representation becomes increasingly important. Campaigns increasingly aim to use celebrities to represent many aspects of the community, Includes origin, race, gender and geography. This helps brands build a positive and meaningful image in the minds of consumers.
The field of Influencer Marketing is becoming a promising market, with investment capital having increased sharply from 7,36 billion USD by year 2021 to 69,92 billion USD expected this year 2029. Impressive growth rate is 32,5% each year, This demonstrates that the influence of influential individuals is becoming increasingly important in attracting consumers.
- Brands will look for long-term partnerships instead of one-off projects
The trend in the marketing industry is shifting from the one-time partnership model to looking for long-term partnerships. Instead of just focusing on specific advertising projects, Short-term, Brands are focusing on building strategic and sustainable relationships with influential partners.
Ongoing collaboration brings many benefits to both brands and influencers, not only creates a closer connection with partners but also helps the brand build a consistent and stable image over time. This can help brands maintain ongoing consumer awareness and engagement. On the Influencers side, then help them stabilize their finances and build a professional image, Reliable and consistent.
- Marketers will spend more money on TikTok
TikTok's popularity will continue to grow throughout the year 2024 for both influencers and brands. Although TikTok has not yet usurped Instagram to become king Influencer Marketing, But that could still happen next year 2024.
According to data shared by marketers TheB2BHouse, Marketing teams will nearly double the amount they spend on TikTok influencer marketing in just two years. In the year 2022, they estimate that influencer marketing spending on TikTok has come close 800 million dollars, and five 2024, it is predicted to exceed 1,3 billion.
What makes this number even more impressive is that it is almost twice as high 10 times the amount they spent for the year 2020. Much of this success is due to the platform's focus on features like TikTok Creative Exchange and Creator Marketplace. TikTok's uniqueness helps Influencers attract and retain users, and thereby increase the advertising value on the platform.
- Short videos will still prevail
Forecasts show that short videos will continue to dominate the marketing field in the future. However, TikTok no longer has a monopoly on the short video market. Meta saw the potential of this medium and introduced Instagram Reels, Snapchat adds Spotlight and YouTube adds YouTube Shorts. There is also Triller which is especially popular as a TikTok alternative in many parts of the world like India.
The advantage of short videos is the speed in attracting attention and retaining viewers for a short period of time. This makes them effective marketing tools, especially as consumers increasingly have limited time and want to consume lots of instant content. Short videos also take advantage of active interaction from viewers, where users often interact by clicking like, share… This not only helps expand reach to the target audience but also creates an interactive community, promote the rapid spread and dissemination of content.
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