2024 Influence Marketing Predictions that Creators Should Know

It’s tiiiiiime for my annual breakdown of some of the top predictions for the new year in the influencer marketing industry. As someone who has worked both brand-side and as a creator for now 12+ years this is my favorite thing to kick-off the year with because I find value seeing “both sides” of the industry.

What’s most exciting is that influencer marketing is now a $21 billion industry! When I first started writing these predictions back in 2018, we hadn’t yet crossed the five-figure billions and it was a “mere” $4 billion industry. The amount of growth has been impressive. And it’s a great reminder that there is so much room for everyone.

If you’re new here, my top predictions cover the things I think are most relevant to content creators looking to build careers and businesses in this space. There are of course dozens of predictions and points that could be made for the industry, so this is not a full circle approach, but a starting point for conversation.

LET’S BEGIN

1. AI Workflows Become Mainstream

Oh, AI. It’s a controversial subject in the creative world given that there is a fine line of ethics of when AI is supportive for a creative career and when it’s exploitative of other creatives’ work. While this debate carries on, and some companies like Adobe are doing more to combat content transparency in AI, what I really want us to consider is how generative AI tools will impact the Creator workflow.

For example: using ChatGPT to help generate content ideas, using Google Bard to audit your social profiles and give you strategy tips, transcript generators, AI-based editing software, and so much more. In fact, I can anticipate that project management tools will come up with AI solutions that support creators in stages of working with brands like managing your campaigns smarter and reporting. We’re also seeing more social platforms, like Meta, tap into AI tools in the content creation process through stickers and other upcoming features.

Simply put: everyone will be using or talking about AI somehow in the creator economy in 2024. Use it wisely and take advantage while so much is free or low cost.

2. Creators on Retainer (for Trends & UGC)

Some of my clients’ favorite campaigns over the last year have been “retainer” campaigns. For those unfamiliar with the term, this means that a brand will pay you a set monthly fee for an agreed upon scope of content. They’re using it for things like trendjacking or UGC (user-generated content) which requires a much quicker turnaround of content. So, having creators on “retainer” upfront means they are saving themselves the time looking for new creators and briefing them — it’s like you’re part of the team!

Trendjacking means taking advantage of trends and cultural moments for a brand story’s benefit. For example, one of my clients worked with a major retailer on retainer and every month they’d identify “viral products” that our creator would make content around. The creator had to submit content within 3-5 days of receiving the directive (keep this in mind when pricing yourself and add a rush fee) and the brand could quickly hop on trends without having to find creators to fill them at the last-minute.

With UGC, it’s really valuable for brands to have a group of voices that represent your brand on a regular level and that’s where these types of projects come in. I worked with Instagram for their first Creator Class which was just that — monthly stipend for us to show up weekly on their pages across a range of different topics. To date, these have been some of the best campaigns and I predict in 2024 more brands are smart enough to start doing them!

3. Affiliate Marketing is More Accessible

I’ll admit, I was never a big fan of affiliate marketing because I do believe it takes a lot more “free labor” than we think to actually see conversions. But, it is a nice-to-have if you get that coveted link or code from a brand about stuff you talk about organically in your day to day. Previously, a creator would have to apply and get accepted into platforms like Like to Know It, Shop Style, or the brands' direct programs for affiliate partners and ambassadors. This meant that you’d have to wait some time to meet requirements for entry or put in work establishing relationships with brands to get there.

With innovations like TikTok Shop’s way of integrating affiliate marketing into creators’ posts, I anticipate that in 2024 we will see a big wave of — not just working creators but everyday social media users, too — take advantage of making income from affiliate posts. It’s as “easy” as linking and tagging products in a way where you can monetize from it. Amazon Influencer’s program for example has lowered requirements where it’s more easy for emerging creators or users to sign up and start recommending with their unique links.

With reward comes responsibility, it’s crucial that affiliate links are properly disclosed across all content to avoid being flagged by the FTC. You can find examples and rules here, but simply using an affiliate link is not enough. You’ll have to say something along the lines of “I do get paid if you use my link,” and transparency with your community can go a long way. They’ll actually want to support you more if you are honest about what those links actually do.

4. Return of Long-form Content

Does it feel like we’ve flip-flopped over the last few years? It’s because we 100% have. YouTube was the ultimate platform for creators in the early stages of Influencer Marketing — in fact the first time I paid a creator a 5-figure brand deal was a YouTuber back in 2015 — but long-form content was not easy to produce for all. TikTok brought short-form video to the scene and Instagram Reels ensured that it stayed there. But over the last year we’ve seen that more consumers are connecting with creators over videos that are more than that previously shiny 1-minute mark.

TikTok started doubling down on this theory by creating a paid incentive program for creators posting videos that were longer than 1 minute through their Creativity Program Beta — and the payouts are much stronger than their previous fund! I had a video go “viral” with 200,000 views and earned hundreds of dollars for it! I am very curious to see how Instagram will catch up to this, if they decide that long-form video can be given a chance again on the platform. In my opinion, until they introduce x1.5 or x2 speed viewing and the rollout of pause, forward, back buttons across all video content, long-form video won’t do well on their platform. And of course, YouTube never went anywhere and I believe we will see much more traffic here for people reminding themselves of the beauty of sitting back and watching your favorite creators’ week-in-the-life over a 30-minute video (yes, I do this often).

For creators, this is an opportunity to really flex your storytelling skills and expand beyond the bite-sized videos we became used to. And you’ll be surprised at how many people will eagerly still tune in if the value is there!

5. Priority on Micro-influencers & Long-term Campaigns

Last year I predicted that we would see a lot more long-term campaigns — and did ring true! We saw the sentiment that some creators felt brands were spending less, but numbers don’t lie. Brands were actually spending more, they just worked with less creators on more posts. For example, I had the smallest number of brand clients this year — 16! — yet made the most amount of money I have in my career thus far. My top two campaigns were 6 months long and multiple five-figure deals. It’s actually a great benefit for creators to tap into these because it creates more regular and guaranteed income. Now that the proof of concept is there, I anticipate that this will become the “norm” for a lot of brands and move away from the one-post-model toward a multi-post campaign. Great news for creators — start learning how to bundle your rates!

On the same vein of priority, working on long-term campaigns means they’re going to be spending more-per-influencer which takes us to the micro-influencer (150,000 followers or less). While micro-influencers don’t have the “reach” that those with 500,000 or a million followers have, they have the power of usually a much stronger community. It’s been proven that engagement rates dip as you grow, because naturally more people tune out over the years, so the micro-influencer is usually at that stage where it feels tight and personal with their community. If brands are looking for multiple posts, micro-influencers are simply more affordable for the result!

This does not mean that if you are an influencer with a bigger following you should start worrying. It means that your job is to make the most out of the opportunities that do come your way through negotiation and connecting with brands you’re super aligned with. If it’s feeling a bit quiet, pitch pitch pitch. Remind brands that you have value in a different way and they’re going to still be eager to work with you. Here’s a pitch template you can use.

Bonus: Less Curation, More Connection

Now this isn’t really a prediction as it is a suggestion. What we’ve seen over the years is that consumers are gravitating more toward transparency and authenticity. No, this doesn’t mean you need to let go of the DSLR camera and only post “photo dumps,” just consider how you can better make your community feel invested as your “virtual bestie” beyond the valuable and curated content you are making for them.

Features like Stories which both Instagram and TikTok have is a great place to let go and just be the human version of you with your community. Tell us about the boring stuff in your day, I bet it’s the most relatable. And when you’re sharing something super curated and produced, be just as excited about it so that your community is as well.

Move away from the “show and tell” mentality of social media and focus on connecting through your stories and craft.

so, What’s next?

If you’re a creator or influencer reading this, take advantage of strategizing in 2024 against some of these predictions. Make your life easier with generative AI, pitch “retainer” concepts to your favorite brand partners, tap into affiliate marketing strategies, experiment with long-form video, and consider taking advantage of multi-post campaigns. There’s more than $20 billion dollars to go around this year and the opportunity is yours for the taking!

If you need support from someone who has worked with thousands creators on building their business, check out Influence With Impact’s services here.

What predictions do you have for 2024, or what are you most excited about?!