A new Ogilvy red paper delves into six transformative influence trends that will shape and define 2024.
With the creator economy estimated to be worth $500 billion by 2027, what does that mean for brands? An impressive 96% of the creator economy is yet to be tapped into and properly utilised.
The findings in this report can help ensure brands benefit from influencer marketing as global ad spend in the space continues to rise.
The future of influence is one where influencers are not just adjuncts to marketing campaigns, but an integral component of brand strategies. This evolution is challenging
brands to think bigger and bolder; forging robust relationships with creators that transcend traditional collaboration models.
Influencer martketing trends for 2024
Led by Rahul Titus, Ogilvy’s Global Head of Influence, a diverse group of global Influence experts dive into the following six trends:
The Year of Sport
Driving cultural impact will go beyond the field in 2024 – from the impact of the Olympics being streamed on TikTok for the first time to the burgeoning fascination with sports stars off the field.
Taylor Swift and Travis Kelce’s relationship, for example, has brought a new legion of fans for Kelce and he’s seen an uptick in 1.6 million Instagram followers.
AI Influence Goes Hyper-Personal
AI will tighten its grip on Influencer marketing as Meta rolls out its AI Personas in the new year.
Virtual twins of household names such as Kendall Jenner – named Billie – will shift Influence from passive spectatorship to hyper-personalised interactions in ways fans once thought was impossible.
The sound of influence is another core trend set to dominate. Christina Aguilera and Latto’s viral ‘hip-hopera’ duet for Just Eat received five times the mentions across the UK, Ireland and Australia Katy Perry’s had last year, while Garnier-owned hip-hop track Micellar Rewind – used by Influencers when showing the benefits of a make-up remover – has 4.3 billion views.
Sonic and visual identity are not mutually exclusive, both will complement each other in the coming year to amplify profiles, gain cultural resonance and improve share of voice for brands.
The importance of influencing a better tomorrow will continue to impact Influencer content too. Brands’ ESG claims are under a magnifying glass from fans ready to call out greenwashing.
Couple this with the pressure on Influencers to hold themselves accountable when making claims, 84% of creators say they’re hesitant to post about climate change and the environment for fear of backlash.
Internal voices will increasingly drive external impact. Nearly nine-in-ten (89%) of C-Suite marketers recognise the benefits of employee advocacy on platforms such as LinkedIn, but 2024 will usher in more B2C brands capitalising on their employees’ influence.
They quickly win over consumers’ trust thanks to their uniquely informed insights and authentic advocacy of a business.
From second screen to main screen
The report cites how livestreaming across social platforms will continue to be a critical medium.
Some 66% of brands already report that creator-led content delivers more ROI than traditional ads, and with Gen Z Christmas shopping on TikTok for the first time. Influencers could see revenue opportunities through livestreaming over traditional subscription models as more platforms integrate payment schemes.
Rahul Titus, Ogilvy’s Global Head of Influence, said: “Influence is still growing rapidly.
“These trends show the huge amount of untapped potential, especially in new spaces like health, employee advocacy and in new formats like sonic or AI influence.
“Some 96% of the creator economy is still untapped, meaning the possibilities are endless – this should excite brands, offering them unique and evolving ways to interact with audiences and stand out in a cluttered marketplace.”
Since 2017 Titus has worked with Ogilvy’s Influence team to establish the network’s unparalleled leadership and authority around the Influence economy.
Titus and his team have continually redefined the industry through their industry-leading thought leadership, launching the network’s inclusive influence initiative and announcing Ogilvy’s recent commitment to combat the misuse of beauty and body editing across Influencer content.
Ogilvy’s Influence expertise has set industry standards resulting in flagship new business and Ogilvy becoming the most awarded agency by the Influencer Marketing Awards for the fifth year in a row.