Tiffany Borland, director of strategy and project analytics at HireInfluence, noted that an Influencer Marketing Hub benchmark report reveals that 71% of respondents spent more than 40% of their marketing budget on influencer marketing, proving it is an essential part of modern-day marketing.
“Prior to this year, brands traditionally worked with influencers on one-off projects, but with the increased need for authentic content, brands are choosing to extend their partnerships with influencers to collaborate on long-term activations,” she said.
The existing trends around influencer marketing, including the rise of micro and nano influencers, as well as the diversification of platforms moving away from Instagram and over to YouTube, TikTok and others, will persist through 2024.
“I expect to see a continued move away from salesy content and a continued push toward authenticity in influencer partnerships and content,” said Borland.
Tapping into big moments
If we learned anything in 2023, it was the sheer size and power of Taylor Swift’s army of fans—and the awakened desire in consumers for tangible, real-world experiences. The unprecedented frenzy the world witnessed around Swift’s Eras Tour ticket sales was as shocking as it was contagious, causing a literal craze around scoring a “Golden Ticket” and underscoring for advertisers the key touchpoints around experiences like these.