However, as the year drew to a close and there were some signs of improvement, there was a quiet optimism that 2024 might deliver better conditions for both brands and consumers.
Having said that, for influencer marketing, 2023 was another year of growth.
More companies than ever are utilizing the channel (as high as 78% in the US), the overall industry value grew to $21.1 billion globally, and spending on influencer marketing globally reached $26.09 billion.
All of these stats should be the sign you need to jump on the channel if you haven’t already.
If you are a regular influencer marketer (and if you’re reading this we assume you are), then you’ll know succeeding on the channel often comes down to staying on top of existing and emerging trends.
There were plenty that we saw in 2023 that we expect to continue – AI, short-form video, TikTok as a key channel, the increasing importance of trends, and the continued growth in social commerce.
But what of 2024? To get you fully prepared and ahead of the curve, we’re giving you a quick rundown of the seven key trends we expect to see in the year ahead.
Before that, we’ll have a quick check-in on the state of the industry to understand what may lay ahead for influencer marketing more generally.
By the end of the report, you should have plenty of actionable tips and strategies to implement and test in your approach over the coming 12 months.
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