WOW INSIGHTS: Social Media & Influencer Marketing Trends for 2024

As the new year unfolds, it’s a prime moment for marketers to refresh their influencer and social media marketing strategies to make sure they align with predictions for 2024. Navigating these trends is pivotal for businesses aiming to adjust their approaches, experiment with new formats, and foster meaningful connections with their audiences. Explore with us as we uncover three key trends set to dominate the social media and influencer marketing world this year.

Prioritizing Video Content

Video takes center stage as the most popular type of content online. Studies* show that customers retain 95% of information from videos, making them essential for marketing strategies. Both long- and short-form videos, specifically reels, help establish a brand, and social media platforms are prioritizing this type of content. Brands must develop robust video content strategies to stay visible and create compelling narratives that deeply resonate with their audience, ultimately propelling meaningful engagement.

Integrating Artificial Intelligence 

Artificial Intelligence is transforming content creation and visual storytelling. In 2024, we can expect to see more brands using AI-powered tools to create content, analyze audience behaviors, and deliver personalized experiences. There has also been a rise in virtual influencers, which are computer generated fictional characters designed to resemble anything from a cartoon to a human being. Brands leverage virtual influencers to closely associate the influencer with their brand, aiming to better connect with their existing markets or tap into new markets. Marketers need to understand the role of AI and its potential impact on audience engagement. 

The Rise of Long-term Influencer Collaborations

Market research expects the value of the influencer marketing platform market to reach $69.92 billion by 2029, at a compound annual growth rate of 32.50% over 2022-2029*. In 2024, brands are favoring long-term collaborations with the same influencers driven by the trust and authenticity that develop when an influencer consistently endorses a brand. The long-term approach transforms one-off promotions into an engaging narrative by making the brand’s mix in the influencer’s content feel more genuine and less like random advertising.

*Insivia 2023 SaaS report
*Data Bridge Market Research

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