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But with the rising popularity of YouTube, TikTok, and Instagram, financial advisors and tax experts are encountering more clients who鈥檝e received incorrect or irrelevant tax advice from social media influencers. Why it鈥檚 happening: Young adults who are new to the working world and managing their own finances are at particular risk.

Consider partnering with an influencer or building on social media trends to make content more relatable. This article is part of 蘑菇AV鈥檚 client-only subscription Briefings鈥攄aily newsletters authored by industry analysts who are experts in marketing, advertising, media, and tech trends.

TikTok鈥檚 financial influence: We already know that watching highly filtered influencers can cause money dysmorphia in consumers鈥攂ut there鈥檚 more to the equation, as highlighted by NPR. TikTok users often cycle through videos warning about the economic doom that younger generations face.

Snapchat launches 鈥楩ind Your Favorites鈥� campaign: Creator-focused strategy aims to grow engagement and revenue amid TikTok's uncertain US future.

In fact, Gen Zers place equal trust in influencer content as in bank content. Banks are competing with influencers for Gen Zers鈥� time spent on social media. When asked about the research methods they use on social media, viewing and reading influencer content (50.0%) was second only to bank content (56.3%). The disconnect between Gen Zers鈥� use of and trust in banks鈥� social media content is noteworthy.

Expect the Brazilian retailer to double down on creating more authentic relationships with customers via social media influencers to drive sales and increase its ecommerce market share. Predictions. Brands in the region will bet big on short-form video for social commerce growth.

Influencer marketing is likely to benefit from this signal loss as marketers can tap into creators that have built an audience of young users. Several platforms including TikTok, YouTube, and others are emphasizing shopping features and introducing avenues to connect advertisers with creators.

Engagement on Instagram Reels is lower but not by a huge margin, especially for mega-influencers with more than 10 million followers. Influencer marketers across the board should be embracing social video. Use this chart:. Evaluate influencer marketing strategy. Compare Instagram Reels and TikTok investments. More like this:. 4 ways brands can encourage consumers to buy via social media.

Partnering with Spotter strengthens Amazon鈥檚 foothold in the creator space, providing opportunities for traditional ad placements and influencer-driven campaigns. With its tech assets and interactive ad options, Amazon is evolving into a fully integrated media powerhouse.

Video is key for influencer marketing. Among B2B marketers worldwide, 75% use influencers, and 93% plan to increase their spending on influencers, based on positive results, according to a 2023 Ogilvy report. Over half of all B2B marketers use video for interviews with influencers and subject matter experts, per an August 2023 Content Marketing Institute (CMI) survey.

Focus on getting maximum bang for your buck with influencer partnerships and shoppable media campaigns, as well as engaging content for organic growth. Optimize posts using A/B testing and use retargeting to reach consumers who have already shown interest. Highlight sustainability credentials.

Key takeaway: The guidelines clarify some regulatory gray areas that could have easily landed social media influencers in legal battles. Perhaps US regulators will be inspired by their UK counterparts. In the meantime, it鈥檚 important for FIs on either side of the Atlantic to perform due diligence before partnering with influencers on campaigns.

Several major influencer marketing firms are also expected to have a major presence, including Whalar and Influential, which is taking over prime beach real estate previously held by Twitter. Influencer marketing has become a permanent line item on most brands鈥� budgets. Spending will continue to increase as campaign prices rise, ad market dynamics shift, and ad creative continues to trend more native.

Are brand-led creator communities the next evolution of influencer marketing? How to get the most out of working with creators and influencers. Guide to influencer marketing: Trends, tactics, and KPIs. Note: An influencer is an individual who can sway the brand preferences, buying decisions, and loyalty of a broader population, regardless of follower count.

Among influencers in Canada with fewer than 10,000 followers, average TikTok ER was 12.2% during H1 2023, according to a report from HypeAuditor. Retailers lead the way for influencer mentions on TikTok in Canada. In H1 2023, the top five brands on TikTok in terms of mentions driven by influencer content were Aritzia, Revolve, Winners, Shoppers Beauty, and Sephora, per HypeAuditor.

Brands are signing deals with fewer influencers. In 2023, the majority (46%) of US marketers were working with one to five influencers per campaign, per an August 2023 report by Linqia. That鈥檚 a big drop compared with 2021, when the most common number of influencers per campaign was between 11 and 20. 鈥淏rands are getting more sophisticated about how they鈥檙e partnering with creators.

Agencies are buying social and influencer firms. At least 15 influencer marketing firms, which tend to be profitable, were acquired in 2023, per The Information. Stagwell鈥檚 high-profile purchase of Gen Z-focused agency Movers+Shakers could open the door to more acquisitions, as companies cut down on external partners. Marketers are bringing creators in-house.

Regardless of the platform, partnering with established influencers has a notable effect on purchasing decisions due to their authenticity and relatability. Amazon reprised its 鈥淒orm Roomz鈥� campaign, a spin on home tours, but at college, featuring basketball player Jared McCain and other TikTok influencers.

Its business model combines machine learning to scour trends across the internet with tight links to China鈥檚 vast manufacturing base and discount-driven social media and influencer marketing. Shein churns out vast quantities of ultracheap apparel that appeals to Gen Zers鈥� fashion sensibilities鈥攁nd their relatively limited spending power.

Some 39.4% of US social media users had made a purchase from an influencer or creator-founded brand in the 12 months preceding our March 2024 survey, for example.

And this debate, to me, feels especially timely because one of the topics that I cover really heavily here at eMarketer is the creator economy and influencer marketing. And I have been saying that 2024 has been this year of legitimacy for creators and for influencers and that finally, influencer and creator is really starting to make up a bigger part of marketing strategies. Alex Schultz (15:50):.

鈥淪ocial platforms are now a launchpad, rather than a final destination, for many creators,鈥� said our analyst Jasmine Enberg in our Influencer Marketing 2023 report. Creators may be relying more on ad revenues, but US influencer marketing spending will grow faster over the next few years than ad spending, per our forecast. Use this chart:. Evaluate options for working with creators.

Snapchat could become a bigger player in influencer marketing. Just 17.8% of US marketers will use Snapchat for influencer marketing this year, per our latest forecast. But as more creators turn to the platform, brands will likely want to get more involved as well. While we consider Snapchat a social app, its users primarily use it for more-private visual messaging, which has held some marketers back.