November 28, 2023

7 Key Influencer Marketing trends that is expected to grow in 2024

If we talk from the standpoint of influencer marketing, 2023 has been a great run. Compared to the preceding years, businesses across the board have spent more on influencer marketing this year. As per a latest report,  during 2023, global influencer marketing campaigns spending reached 34.08 billion. The popularity of influencer marketing as an advertising apparatus is mainly due to the booming creator economy and the technological ecosystem that supports it. Instagram is one of the largest and most popular social media platforms that has become the hubspot for influencer marketing. The platform allows creators to create high quality content right from the app followed by a unique algorithm system that facilitates engagement and takes that content to the right audience. 

Although there is no doubt that influencer marketing will only grow next year, as a marketer and advertiser, it is important to watch out for the influencer trends of the future. With time, the influencer marketing industry has become very sophisticated and the rules of the game keep changing with every passing year. So, as we gear up for the New Year, we present to you the top 7 key influencer marketing trends of 2024 that are anticipated to define the landscape of the advertising and marketing industry. 

# 1 AI Will Play a Huge Part in Influencer Marketing 

As per a McKinsey report, 2023 has been a breakout year for AI, specifically if we take the context of content creation. In influencer marketing trends of 2024, AI is right on the top, revolutionizing the industry by driving data-driven strategies, enhancing audience targeting, and streamlining campaign management with unparalleled efficiency and effectiveness. 

But the most notable jump that we have witnessed is the unprecedented growth of Generative AI tools in content creation. Platforms like ChatGPT, DALL-E are open AI platforms that allow content creators and programmers to use the power of AI to create digitally enhanced content in the form of text, image, video, music with relative ease. 

The incorporation of AI in influencer marketing will only intensify in 2024, with many companies already investing in making products that solution to support content creation for social media influencers and content creators. 

# 2 Affiliate Marketing will Grow with Integral Influencers Participation 

With 15-30% of e-commerce sales coming from Affiliate marketing, in 2024, more and more brands will hire social media influencers to propel their affiliate marketing strategy. Social media marketing with specific leaning towards affiliate marketing is a win-win situation for marketers and content creators. It is cost-effective and highly measurable as the success of the influencer marketing campaign depends upon the pre-set goals which could range from sales, engagement, web traffic and so on. 

It is a great way to introduce new products to customers and brands actively pursue to find content creators who will have genuine interest in the products and are suitable to become part of their affiliate marketing program. 

# 3 Live commerce Will be Part of Influencer Marketing Campaigns 

At the moment, live commerce in India is a bit on shaky grounds. However, with Amazon India's recent effort to incorporate live commerce in their Great Indian Festival marketing campaign by making social media influencers part of it is expected to give this sector a big boost. Both Live commerce combined with affiliate marketing will be a game changer for the Indian market. 

As a performance based model, live commerce will be beneficial for brands who have a bootstrapped marketing budget. Also, for the success of live commerce, brands will have to collaborate with niche influencers and content creators who have the knack to create informative, yet fast paced content. In 2024, live commerce will be a part of influencer marketing campaigns, although at what scale, only time will tell. 

# 4 Growing Relevance of Regional Influencers 

For our festive series blog posts, we covered the relevance of regional influencers in festive theme influencer marketing campaigns. This is because with widespread penetration of internet and smartphone usage in rural India, there is a big rise of regional influencers, who understand the local sentiments all too well. 

For more targeted marketing, brands will have to work with them. It is also a form of giving a platform to underrepresented communities which will resonate better with the audience and help brands position themselves as inclusive and diverse. 

# 5 Brands will work with More Niche Influencers 

At the onset of influencer marketing, popular influencers who had a considerable following on social media were most preferred partners for social media campaigns. However, with time, brands are becoming aware that for higher engagement and traction, they will have to focus more on niche influencer sub-set. 

By definition, niche influencers are individuals who have developed a specific and dedicated following within a particular niche or industry. Unlike mainstream influencers who appeal to a broad audience, niche influencers cater to a more specialized and targeted group of people interested in a specific topic, industry, hobby, or lifestyle. 

Micro and Nano influencers fall in this category. Time and again it has been proven that influencers from this category have a higher engagement rate. Even influencers are also becoming aware of this and try to stick to one genre or theme and create content around that to remain true to their audience. 

# 6  Employee Ambassadorship Will Amplify 

“Employee ambassadorship” or “internal advocacy” in influencer marketing refers to the practice of leveraging employees as advocates to promote a brand or its products on social media and other marketing channels. 

While traditional influencers are external individuals with a significant following, employee advocacy focuses on harnessing the influence of a company's own workforce, which is also very crucial from the perspective of authenticity and trust building. 

Employees are seen as authentic representatives of a company. When they share content about their workplace or products, it often carries authenticity and trust. In the coming months, brands will focus more on “internal advocacy” and train employees and marketing teams accordingly. 

# 7 More Focus on Marketing Sustainability 

As people are becoming more and more conscious about the environment, brands are driving towards sustainability , which in turn will give rise to influencers who are promoting sustainable products. There will be greater focus on promoting sustainable products which are ethically sourced. 

Closing Thoughts 

In conclusion, the influencer marketing landscape is poised for exciting developments in 2024, building upon the momentum gained in 2023. Marketers and advertisers must watch out and adapt these evolving influencer marketing trends of 2024. The points discussed in this blog post will provide valuable insights for crafting strategies for future influencer marketing campaign strategies. 

Galleri5 is an award winning influencer marketing company with a complete creator stack. We have worked with several big brands and influencers on successful influencer marketing campaigns. For more information, book a demo today!

Kamna Datt
Content Writer
A content writer by profession, Kamna is an Influencer marketing enthusiast writing insightful articles about the space that will benefit brands and influencers alike!