A staggering 96% of the creator economy is yet to be tapped into and properly utilised, according to a new report from Ogilvy looking into the future of influencer marketing.
According to the ‘2024 Influencer Trends’ report, the Creator Economy is predicted to be worth £398 billion by 2027, but despite this only 4% of that workforce realises its full potential.
Led by Ogilvy global head of influence Rahul Titus, the report highlights a range of key trends that brands should take note of to make better use of influencers in 2024.
They include the year of sport, with the upcoming Olympics set to be streamed on TikTok for the first time and increasing interest in the lives of sports stars off the field; alongside the importance of sonic influence and tapping into sound (with Christina Aguilera and Latto’s viral ‘hip-hopera’ duet for Just Eat driving more success than Katy Perry’s appearance for the brand did last year).
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Other trends for brands to take notice of include sustainable influence, with the role of ESG becoming increasingly important and the need to combat the fact that 84% of creators say they are hesitant to post about climate change and the environment – for fear of backlash.
In addition, the report highlights that AI influence and AI personas, utilising employee advocacy in the B2C space to drive consumer trust, and live streaming delivering increasing ROI particularly around shopping trends, will all continue to be important for brands in the coming year.
“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 Titus.
“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”.
