The Engagement Rate

An industry bulletin for marketing pros.

This week’s W🏅

Megan Boni went viral on TikTok “looking for a man in finance”, caught the attention of big brands like Duolingo and Crocs, received lots of free stuff, and quit her job to become a full-time content creator.

^{Sponsored by Ignite Digital}

Watch out for this red flag in SEO agencies…

Be careful of agencies that promise to get you on the first page of Google in a week.

Most agencies promising quick fixes resort to low-quality, spammy links that damage your brand—and your SEO—in the long run.

If you want to do it right, work with a reputable company like Ignite Digital

They rank #5 out of 55,000 SEO companies on Clutch—and for good reason.

When you partner with Ignite Digital, you get:

• Access to 10+ years of expertise across all industries. They've seen it all, and can understand and meet your specific challenges.

• A one-stop shop for digital marketing, covering everything from SEO to paid ads and social media management.

• Custom insights into stacking up against your unique competition and strategizing effectively.

And right now, Ignite Digital is offering a free competitive analysis so you can see how your website compares to your competitors.

Take Advantage of their FREE Competitive Analysis Today

The trends that will define 2024

If there’s anything that has a good pulse on this sector with a good mix of data and feel, it’s Sprout Social - who we often reference when it comes to hard hitting research on what’s working and what’s not. They’ve recently released their 2024 trends list that’s shaping the influencer marketing space. Here’s your snapshot digest: 

👉Consumers demand more than authenticity from influencers

A key trend in influencer marketing is the emphasis on authenticity, but this alone isn't enough to captivate audiences, especially younger ones. Only 35% of Gen Z consumers consider authenticity a top priority in influencers. Unlike Millennials, who prefer influencers aligned with their values, Gen Z is more discerning and digitally savvy, quickly spotting inauthentic endorsements. They aren't loyal to brands but prefer personal recommendations and trending products from influencers who entertain or interest them.

👉Influencer marketing drives online shopping

Social commerce is replacing traditional shopping, with 49% of consumers making monthly purchases due to influencer posts. Content like hauls, GRWM and live reviews helps consumers learn about and trust products, with trust in influencers remaining high.

👉Influencers and brands favor long-term partnerships

Influencers are choosy about collaborations, seeking quality brands and shared values. 93% assess a brand’s social content, 63% prefer shared values, and 59% want clear budgets. Long-term partnerships help brands build trust, reach new audiences, and grow communities.

👉Micro and nano-influencers on the rise

Success in influencer marketing isn't about millions of followers. Micro and nano-influencers with loyal audiences are highly persuasive. 40% of consumers prefer engaging with these smaller influencers, who are ideal for niche markets like education and healthcare.

👉Diversity and representation is crucial 

Top influencers come from diverse backgrounds, and consumers notice how brands handle diversity. A Deloitte report shows 18-25-year-olds pay attention to inclusive marketing. Brands should feature diverse voices year-round, not just during cultural celebrations, to avoid performative allyship. Intentional collaborations with influencers on key cultural milestones resonate with diverse audiences rather than a “HI GAY, HAPPY PRIDE MONTH” post.

Consultancy service are on the up for influencer agencies

As the influencer marketing sector continues to grow, agencies are broadening their services to offer more than just connecting brands with influencers. Socially Powerful, a global social and marketing agency, recently launched Prime Influence, a consultancy service designed to help brands navigate strategic and technological challenges in influencer marketing. This shift towards consultancy is driven by the increasing complexity and sophistication of the industry, requiring agencies to provide more comprehensive strategies that go beyond daily campaign execution.

"Influencer agencies are no longer just middlemen," says Stefanie Beach, founder and CEO of SMB Media Consulting. "They now offer full-spectrum strategies, from content creation to campaign analytics." This evolution is a response to brands’ need for more effective and efficient marketing solutions. Take Socially Powerful's Prime Influence which includes guidance on creating internal centers of excellence, or pods, to share best practices across brands within the same ad category. This initiative also aims to bring transparency to pricing, helping brands understand market rates for influencer collaborations and ensuring fair pricing practices.

The move towards consultancy is not unique to Socially Powerful. Other agencies are enhancing their offerings to stay competitive in an increasingly crowded market. Belle Communication is emphasizing the importance of creative strategy and deep insights, while Arthur D. Little is providing specialized services such as accounting and business setup for influencers. The integration of advanced tools and AI-driven platforms, like Socially Powerful's Aria, further differentiates these agencies by improving efficiency and creative performance. As Logan Patterson of consultancy Slalom notes, "Data-driven strategies are becoming a real differentiator for influencer marketing agencies." This holistic approach helps brands build stronger, more effective influencer partnerships, ultimately delivering better ROI.