Ogilvy has released a Red Paper that delves into six transformative influence trends that it says will shape and define 2024.
The paper poses the question: With the Creator Economy estimated to be worth $500 billion by 2027, what does that mean for brands?
According to the findings, 96% of the creator economy is yet to be tapped into and properly utilized. The report adds that it aims to ensure brands benefit from influencer marketing as global ad spend in the space continues to rise.
“Influence is still growing rapidly. These trends show the huge amount of untapped potential, especially in new spaces like health, employee advocacy, and in new formats like sonic or AI influence,” said Rahul Titus, Ogilvy’s Global Head of Influence.
“96% of the creator economy is still untapped, meaning the possibilities are endless – this should excite brands, offering them unique and evolving ways to interact with audiences and stand out in a cluttered marketplace.”
Six Key Influence Trends
The report highlights six trends. Following is a summary of released by Ogilvy.
The Year of Sport: Driving cultural impact will go beyond the field in 2024 – from the impact of the Olympics being streamed on TikTok for the first time to the burgeoning fascination with sports stars off the field. Taylor Swift and Travis Kelce’s relationship, for example, has brought a new legion of fans for Kelce, and he’s seen an uptick in 1.6 million Instagram followers.
AI Influence Goes Hyper-Personal: AI will tighten its grip on Influencer marketing as Meta rolls out its AI Personas in the new year. Virtual twins of household names such as Kendall Jenner – named Billie – will shift Influence from passive spectatorship to hyper-personalized interactions in ways fans once thought was impossible.
Sonic Influence: The sound of influence is another core trend set to dominate. Christina Aguilera and Latto’s viral ‘hip-hopera’ duet for Just Eat received five times the mentions across the UK, Ireland, and Australia Katy Perry’s had last year, while Garnier-owned hip-hop track Micellar Rewind – used by Influencers when showing the benefits of a makeup remover – has 4.3 billion views. Sonic and visual identity are not mutually exclusive; both will complement each other in the coming year to amplify profiles, gain cultural resonance, and improve share of voice for brands.
“96% of the creator economy is still untapped, meaning the possibilities are endless – this should excite brands, offering them unique and evolving ways to interact with audiences and stand out in a cluttered marketplace.”
Sustainable Influence: The importance of influencing a better tomorrow will continue to impact Influencer content too. Brands’ ESG claims are under a magnifying glass from fans ready to call out greenwashing. Couple this with the pressure on Influencers to hold themselves accountable when making claims; 84% of creators say they’re hesitant to post about climate change and the environment for fear of backlash.
Employee Advocacy: Internal voices will increasingly drive external impact. Nearly nine-in-ten (89%) of C-Suite marketers recognize the benefits of employee advocacy on platforms such as LinkedIn, but 2024 will usher in more B2C brands capitalizing on their employees’ influence. They quickly win over consumers’ trust thanks to their uniquely informed insights and authentic advocacy of a business.
From Second Screen to Main Screen: The report cites how livestreaming across social platforms will continue to be a critical medium. 66% of brands already report that creator-led content delivers more ROI than traditional ads, and Gen Z is also Christmas shopping on TikTok for the first time. Influencers could see revenue opportunities through livestreaming over traditional subscription models as more platforms integrate payment schemes.
You can read the full report here.
Image: Anna Shvets
