Next-Gen Creator Marketing Trends Set to Go Viral in 2024

With the world becoming more and more digital, the creator economy is ready to take center stage. The demand for digital video content is soaring, driven by creators, and advertisers are increasingly investing in creative content for smartphones. Many believe that the days of creators being seen as an extra to advertisers’ strategies are over, and creators may now be considered essential to the advertising landscape.

"Prioritizing creators for advertising is definitely the future," stated Ali Fazal, vice president of marketing for creator management platform Grin.

This year, 44% of marketers intend to increase their investment in creators, with an average spending increase of 25%, according to a creator economy report by IAB and TalkShoppe. The landscape was last valued at $250 billion and is projected to grow to $480 billion by 2027, as forecasted by Goldman Sachs. As creators become more established in advertiser budgets, their role could transition from the experimental category to a category of their own. While the terms creator and influencer are often used interchangeably, the main difference lies in their purpose, with an influencer being a type of creator that uses their platform to promote products and influence purchasing decisions.

Influencer marketing agency Billion Dollar Boy is one of the agencies exploring the concept of creator-led advertising. Last year, the agency collaborated with Lipton Iced Tea for an international creator-led campaign that encompassed digital out-of-home, social media, and experiential elements, and was centered around an original song performed by TikToker Matt Storer with support from several other creators. Overall, the campaign achieved a video view-through rate of 23.9%, and the brand experienced a 15% sales increase in Australia during the two-week campaign.

According to Billion Dollar Boy founder and global CEO Ed East, the example above demonstrates the advantage that creator-based advertising has over traditional tactics in the digital age. "Previously, creator activity and influencer marketing were just add-ons to a plan. Now, creator activity needs to be the focal point of your plan," East said.

The science of being #influenced

Investment in Creators Continues to Rise: Anticipated Trends for 2024

Ad spending on creators is on the rise, and expected trends for 2024 such as new ways to measure success and the resurgence of long-form video could impact advertising strategies. At the same time, the growing interest in generative artificial intelligence (AI) and social commerce may present new opportunities for brands to stand out.

The IAB's report suggests that creator content has a more significant impact than studio-made ads on building brand loyalty and inspiring brand advocacy, with a 1.4 and 1.3 times greater impact, respectively. This is particularly noteworthy as consumers are posting less content of their own on social media channels, according to Ellyn Briggs, a brands analyst for Morning Consult. However, Briggs warns of a potentially volatile landscape for social media marketers and increased consumer skepticism in the coming year.

Campaigns created by influencers that go awry are not uncommon, Briggs further stated, citing Shein's fully-paid influencer trip last year, which sparked backlash when participants praised the company's labor practices, which have often been criticized. While consumers are increasingly likely to call out fake content, they still place a great deal of trust in creators, requiring them to reconsider how they engage with their audiences.

“I think we can officially say that in 2024, using follower count to determine an influencer's potential success is dead.”

Ali Fazal

Vice president of marketing, Grin

Megumi Robinson, vice president at digital PR firm Belle Communication, stated that the selling methods of influencers will change due to growing consumer frustration with overconsumption and constant advertising.

Robinson anticipates a trend in 2024 where brands and creators will be more discerning about their partnerships, with repeat collaborations becoming more prevalent. Additionally, she predicts a decrease in pay-to-play agreements where influencers promote brands without any genuine connection, as consumers are becoming more aware of such partnerships.

Fazal laughed as he mentioned that it was clear that Nicole Kidman does not use Lancôme makeup. Additionally, he expects that marketers will start hiring creators to generate content for brand-owned channels, rather than for the creators' own pages. This is evident with Uber, as they have developed a TikTok creator strategy that involves no more than six creators creating content for their brand at a time.

“Creators being on their own and working with no confines are able to be a lot more innovative, bold, daring, and as a result, the content is more effective,” Fazal said.

Follower count is ‘dead’

The creator space has long focused on the use of micro and macro influencers, both praised for different reasons: micro influencers typically have higher engagement rates despite smaller followings, while macro influencers have a wider reach. However, Robinson predicts that the best of both worlds will be found in a growing mid-tier category, defined by the exec as those with 50,000-800,000 followers.

Fazal predicts that as the landscape changes, using follower count as the only consideration will become less significant. He notes that this metric alone is not as strong of a success indicator compared to engagement. Furthermore, Fazal forecasts that as brands aim to build a more diverse creator strategy, follower count often benefits those from non-diverse backgrounds.

Fazal envisions a greater variety of content formats, expecting that while short-form videos will remain popular, longer-form content will make a comeback as consumers seek in-depth insights and stronger connections. This trend is evident on TikTok, where viewers often request sequels to shorter videos, prompting TikTok to introduce 10-minute videos. For marketers, the opportunity to share a more extensive narrative could be significant, especially during the crucial holiday marketing period.

The focus on short-form content has continued to grow across various platforms, such as TikTok, Instagram, and YouTube. Instagram and YouTube have been consistently adding new features and tools to their Reels and Shorts products in an effort to compete with TikTok. It is projected that social media ad spending will increase to $227.2 billion in 2024, driven by the strength of e-commerce marketing and the effectiveness of social platforms in customer acquisition and loyalty strategies for marketers.

In addition to the "big three" platforms identified by Fazal as key players in influencer content, other platforms are also making efforts to attract creators and advertisers. Snapchat, for example, has introduced a creator-led content series concept and has incorporated sponsored links into its My AI generative AI chatbot. As a result, it is expected that Snapchat could play a larger role in the creator landscape.

“[Snapchat] appears to be the talk of the town because of engagement and the monetization opportunity they’re now offering,” East said.

Social commerce, AI present opportunity

Marketers are exploring their plans for creators this year, with a particular focus on the potential of social commerce. This stems from the recent launch of TikTok Shop in the U.S., which has received mixed results but has garnered excitement from brands. Some have found it to be a significant opportunity - for example, beauty brand BK Beauty reported that they doubled their revenue within three months of activating TikTok Shop, according to Adweek.

"Fazal said, "We've already seen a lot of early signs that TikTok Shop is a big success.""

Social commerce sales in the U.S. are projected to increase from $67 billion in 2023 to over $144 billion by 2027, according to Insider Intelligence. Brands leveraging influencers should pay attention to the content preferred by social media users, such as product hauls and daily routine videos, which have shown to effectively drive purchases, as suggested by Briggs. Specifically, Morning Consult data indicates that 53% of Gen Zers made purchases after watching a "review" video on social media, while haul and get ready with me (GRWM) videos led to 40% and 37% of viewers making purchases, respectively.

The integrated shopping experience offered by social commerce could be the key to leveling the playing field, with 46% of buyers expressing interest in purchasing products directly from social media with a one-stop shop experience, according to 2023 Comscore data shared with Our Website. However, as the social commerce landscape evolves, Fazal advises marketers to adjust their expectations and view social media as a path to building brand engagement rather than an instant purchasing platform.

Another key consideration is how generative AI could benefit creators in the influencer space. In particular, this technology could streamline back-end tasks such as planning and organizing, providing greater efficiencies for creators, Fazal explained. Influencer-focused companies like Billion Dollar Boy and Grin have also embraced this technology, offering services that emphasize its potential benefits.

Ellyn Briggs

Brands analyst, Morning Consult

Virtual influencers, such as Miquela, have already partnered with brands like Pacsun and could become more prevalent in the mainstream as AI continues to enhance their lifelike appearance. According to Alex Dahan, founder and CEO of Open Influence, these computer-generated personalities created using advanced AI technologies offer brands innovative ways to engage with audiences, particularly in fashion, technology, and entertainment.

Nevertheless, virtual influencers do have certain benefits compared to real creators, such as the freedom to promote without hesitation. However, establishing genuine connections still relies heavily on the human element. It's not surprising that research from Morning Consult reveals that consumers have more faith in recommendations from influencers than from AI.

“Having said that, I believe that by 2024 we may witness an increase in the use of this combination of influencer and AI,” Briggs concluded.

The placement of AI within creator marketing remains unanswered, mirroring its broader applications. While creators can benefit from using AI for menial tasks, freeing up time for creativity, overreliance on it could raise concerns among discerning consumers, said Robinson. "It will be obvious to consumers who rely too heavily on AI, which could undermine trust and authenticity, and lead to even more skepticism," the executive added.