With the influencer marketing landscape evolving rapidly, businesses must adopt innovative strategies to maximise their impact in 2024. Here’s how companies can effectively tap into this potential.
Video-First Strategies
Influencers are increasingly adopting a video-first strategy, especially on platforms like TikTok and Instagram Reels. According to Exemplifi data, influencers with larger followings (100,000 followers or more) share 31% more video content compared to smaller influencers. This trend is driven by the high demand for short-form video content, prompting brands to increase the number of Instagram Reels and sponsored posts via Reels.
Strategic Industry Applications
Certain industries stand to gain significantly from influencer marketing. By understanding these opportunities, businesses can enhance their outreach and engagement:
For example, Exemplify’s research has also shown that accommodation brands can expand their social media reach by up to 20 times and achieve 4.3 times more engagement by employing influencer marketing. Similarly, Asian healthcare brands can boost their reach by 20 times and engagement by 3.4 times through influencer partnerships.
Whilst influencer marketing is creating impressive case studies in more niche industries, brands should be careful if they are seeking to promote products or services that may have legal restrictions, such as tobacco, alcohol or gambling. To be safe, it’s always a good idea to consult a local communications expert to ensure your influencer strategy is compliant.
Embracing the Rise of Virtual Influencers
Virtual influencers, created through artificial intelligence and virtual reality, are an emerging trend. These digital personalities, such as Indonesia’s Thalasya Pov and Thailand’s Ailyn, offer brands a cost-effective and flexible strategy to connect with modern consumers.
Gartner predicts that by 2026, 30% of CMOs’ influencer and celebrity budgets will be dedicated to virtual influencers. Brands in sectors like home decor, fashion, beauty, and hospitality can significantly benefit from this innovative approach.
Influencer marketing is poised to remain a critical strategy in 2024 and beyond, particularly in APAC. By understanding and leveraging the latest trends, businesses can effectively tap into influencer marketing’s potential, ensuring they remain competitive in the diverse and ever-evolving digital marketing landscape.
At Midas PR, our influencer and KOL team are experts in crafting influencer marketing strategies that captivate and inspire, whether as a standalone campaign or part of an integrated strategy. Contact us today at www.midas-pr.com or through email for a free consultation to explore how we can elevate your brand through the power of influencer marketing.