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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.

It's not a one-to-one just because TikTok, whether it gets banned or not, even if it's the same influencers and creators doing things, if it's the exact same programming, it's not going to work. So you have to find the right channel that fits your product and brand and you can't just assume that each channel is equivalent even within the Meta products.

Social: Gen Zers turn to recommendations from trusted friends, family, and even influencers. The study found that 73% of Gen Zers watch influencer videos, and shop their recommendations 41% more than the general population. Build greater brand loyalty as your consumers scroll. Gen Zers seek out discovery and delight鈥攁nd are naturally drawn to experiences they can share.

However, YouTube is the most popular platform where US internet users watch creator- or influencer-led livestreams, according to The Influencer Marketing Factory. The bottom line: With US retail social commerce sales growing to $130.10 billion by 2026, per our forecast, it鈥檚 easy to see why YouTube has social commerce on the brain.

For example, the percentage of influencer affiliate conversions that included a coupon was 32.3% in H1 2024, up from 8.8% a year earlier, according to Awin data. Read the full report, Affiliate Marketing 2024.

These methods are followed closely by engaging in online communities on Reddit and Facebook and other similar platforms (51.5%), and viewing influencer content (42.4%). Many of these channels offer cost-effective ways of reaching Gen Zers鈥攊ncluding finfluencer partnerships鈥攁ffordable even for smaller FIs, depending on the scale they鈥檙e trying to achieve.

Collaborate with influencers who align with your brand values and target market. This can expand your reach and introduce your ecommerce store to new audiences. Partner with influencers to share your products, create tutorials, or host a one-day account takeover of your account for a day on Instagram Stories. These collaborations can drive engagement and increase brand awareness.

Technology to empower brand-influencer relationships: 鈥淧artnering with creators is a human-to-human experience. How can we [create new tools] to make that as efficient as possible?鈥� said Instagram鈥檚 head of business marketing, Bridget Evans. Third vs. first-party platforms: Creators need both.

Influencer videos, sponsored content, and organic content frequently have shoppable tags and an immediate purchase option. In very short order, social media users have become comfortable with this form of marketing and purchasing. Shoppable media is an effective way to entice buyers where they are.

Influencer marketing spend is still growing by double digits in the US. We forecast it will increase by 16.0% to reach a total of $8.14 billion this year. YouTube, where users could go if TikTok is banned, will account for the greatest share of that spend (34.5%). Instagram will hold a 31.5% share, while Facebook鈥檚 share will be 12.8%. TikTok鈥檚 share of US influencer spend will be 17.2%.

Influencer marketing remains a relatively inexpensive and engaging way to reach consumers, but keep in mind how different demographics interact with creators. The majority of US adult social media users under 29 years old follow influencers, while about 41% actually make purchases based on influencer content, according to the Pew Research Center.

This year, US influencer marketing spend will increase by 23.4% to hit $6.16 billion, according to our forecast. We predict 63.7% of influencer marketers will use TikTok this year. 3. Focus on what people really want. For sneakers, consumers are looking for smaller brands, said Samuel, who noted 鈥減eople want something different.鈥�.

鈥淥耻谤 influencers have diversified design tastes, just like our customers,鈥� said Hsu. 鈥淲e have thousands of influencers in our network that can activate content depending on campaign objectives and budget.鈥�. Angela Hsu will be speaking about shifting marketing mix in response to measurement and targeting challenges at this year鈥檚 CommerceNext event. Learn more here.

For example, FIs should amplify real, diverse customer stories in all ads, and consider partnering with influencers. Since branches are a key differentiating factor, some of these customer stories should feature an FI鈥檚 customer service at the branch, if they have a local presence.

It also means creators will have more options when making videos, which brands should keep in mind when working with influencers. YouTube introduced a few more features reminiscent of other social media networks. The new Inspiration Tab will offer a genAI 鈥渂rainstorming buddy.鈥� The feature could help creators curate a vibe or moodboard before producing content, similar to a Pinterest board.

We expect influencer marketing spending to rise by 16.0% to $8.14 billion in 2024. The big picture: The creator economy has gotten so big and diverse that it鈥檚 hard to talk about it as a whole. Top creators now command communities and businesses that rival or surpass traditional brands, but the longtail of creators lives in a very different reality.

A quarter of US internet users watch creator- or influencer-led livestreams on YouTube, more than TikTok (18.7%), Facebook (17.4%), and Instagram (14.0%), according to April 2023 The Influencer Marketing Factory data.

In 2020, Charlotte Tilbury worked with influencer Abby Roberts to create a video series featuring three of the beauty brand鈥檚 鈥�10 Iconic Makeup Looks.鈥� Roberts said what made the partnership successful was having full creative control, allowing her to create authentic content that resonates with Gen Z. 鈥淭he influencer, 100%, knows their audience better than anyone else does,鈥� she told Retail Bum.

The influencer effect: At least 59% of consumers across beauty, food and beverage, and OTC health said they had purchased a product based on the recommendation of an online influencer in the past year, per Tinuiti. 鈥淭hat speaks to how important the influencer game is becoming to brands,鈥� said Taylor.

How to get the most out of working with creators and influencers. The way creators make money is changing. The era of influencer efficiency is here. How marketers should measure social media creator campaign performance. Note: US-based creators can generate revenues from audiences or brands located inside or outside of the US.

US influencer marketing spend will reach $8.14 billion this year, an increase of 16.0% YoY, per our March 2024 forecast. More than half of US brands and agencies (51%) are more focused on creator and influencer ads than they were in 2024, according to the Interactive Advertising Bureau (IAB).

鈥淲e鈥檝e had luck with big influencers, and we鈥檝e had tremendous failure with big influencers, and we鈥檝e had sleeper hits [with] micro-influencers,鈥� said Krasnow. Reddit has become an underrated social listening tool for thredUP, according to Delory. Consumers are discussing any and every product in Reddit threads. Use those for key customer insights.

The number of entries for Social and Influencer Lions rose 21% YoY. That鈥檚 partially due to the fact that Cannes Lions opened up the category to creator content for the first time this year. And the growth in entries is clear evidence that influencer marketing is more than just a line item on brand budgets.

Many creators want to be more than influencers. Brand sponsorships will remain most creators鈥� No. 1 revenue stream in 2023. But many creators are now branching out from promoting brands to developing brands of their own.