Influencer marketing trends and tips in 2024
The influencer marketing landscape is ever-evolving, especially in the dynamic Asian markets. Several key trends and strategic tips can help brands and marketers harness the power of influencers effectively in 2024.
Current state of influencer marketing in APAC (Asia-Pacific region)
According to the latest Global Digital Report, the annual expenses on influencer activities saw a 17% year-on-year increase, reaching $30.81 billion in 2023. This growth is fueled by the high trust consumers place in influencers, with 49% of consumers depending on influencer recommendations and 82% trusting opinions they see on social media from friends, family, and influencers
The rise of social commerce
Social commerce, the integration of social media and online shopping, is revolutionizing how consumers discover, engage with, and purchase products. This trend has steadily increased since 2020 and is expected to surpass $1 trillion in 2023, with projections reaching $2.9 trillion by 2026.
Influencer marketing trends in 2024
- Micro and Nano Influencers: While mega and macro influencers continue to be valuable, brands are increasingly turning to micro influencers (5K-30K followers) and nano (500-5K followers) influencers.
- Data-Driven Strategies: Utilizing data to discover, vet, and manage influencers is becoming more critical. Platforms like Klear offer end-to-end solutions that help brands identify the right influencers, predict campaign impact, and measure performance in real-time.
- Cross-Platform Campaigns: Consumers are spread across various social media platforms, and so should influencer campaigns. Successful strategies in 2024 will involve multi-channel approaches, leveraging the unique strengths of each platform, whether it’s Instagram’s visual appeal, TikTok’s viral potential, or YouTube’s in-depth content.
- Authenticity and Transparency: The demand for authentic and transparent content is at an all-time high. Influencers who can maintain authenticity while promoting brands will be more successful. Transparency about sponsored content is also crucial to maintain trust with the audience.
Maximizing influencer collaborations in APAC
Influencer marketing in the APAC region is set to thrive in 2024, driven by the rise of social commerce and the growing trust in influencers, let’s stay ahead of the curve by continuously measuring and optimizing your campaigns and focusing on authenticity and transparency. By leveraging micro and nano influencers, adopting data-driven strategies, and localizing your approach, you can maximize the impact of your influencer marketing efforts.
*This blog post was originally published on EloQ’s blog.