As the creator economy continues to grow, there’s no denying the impact of influencers on social media, culture and commerce. Trendsetters and culture drivers have made influencer an essential piece to social media strategies. Brands need to be aware of this complex and ever-evolving landscape if want to resonate with influencers and consumers alike.
So, half-way through 2024, what are the influencer marketing trends shaping the social media landscape so far?
- Consumers are more discerning
One of the top influencer marketing trends surrounds a popular buzzword marketers hear all the time: authenticity. But authenticity isn’t enough to grab the attention of audiences, especially younger consumers.
According to a recent report, only 35% of Gen Z consumers rank authenticity as a top trait they care about when it comes to influencers. While older generations, like Millennials, seek out influencers who align with their personal values, younger consumer are more discerning. They are digitally savvy, spotting inauthentic endorsements and partnerships a mile away. They aren’t loyal to brands. Instead, they value personal recommendations and trending products from influencers that entertain or interest them.
- Purchase decisions are evolving
Goodbye window shopping and in-person demo—social commerce functionality and in-app shopping are here to stay. Influencer marketing has transformed how we shop with nearly half of all consumers (49%), making purchases once a month because of influencer posts.
Content like hauls, GRWM and live reviews, give consumers a chance to learn and engage in community while considering products or services their favourite influencers are raving about. Nearly half of consumers trust influencers as much as they did six months ago, and another 30% trust them even more.
- Influencers and brands seek stronger, long-term partnerships
Influencers understand their impact on the culture of social media and purchase decisions. They don’t want to simply collaborate with any brand. Influencers are leaning into their agency and use discretion when considering new influencer-brand partnerships.
The majority (93%) agree they consider the quality of a brand’s existing social content when determining if they want to collaborate, followed by 63% who work with brands with shared values and 59% who work with partners with defined budgets and payment structures.
Brands using B2C and B2B influencer marketing benefit from strong, long-term influencer relationships because it enables them to nurture organic communities, reach new audiences and build brand awareness and trust.
- Niche influencer marketing trends continue to grow
Millions of followers doesn’t equate to a successful influencer marketing campaign or record sales. Micro and nano-influencers with loyal followings have the ability to persuade and funnel consumers throughout the buyer journey.
Around 40% of consumers say they prefer to interact with micro and nano-influencers. Influencers are experts in their niche or industry, making them prime partners for vertical markets like technology.
- Diversity and representation are more important than ever
Brand diversity in social media is non-negotiable. Today’s top influencers are diverse, coming from a wide range of backgrounds, cultures and identities. Consumers, content creators and influencers alike take note of how brands approach diversity and representation. Younger generations take note of inclusive marketing when considering their next purchase.
Communities also take notice when brands only feature diverse voices during cultural heritage or identity celebrations like Pride Month. Instead, you need to incorporate DEI year-round to demonstrate their efforts aren’t rooted in performative allyship or activism. Brands should also consider how they want to honour calendar milestones that are important to underrepresented communities to craft an inclusive strategy. Brands who are intentional when collaborating with influencers will resonate with diverse audiences.
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