Is the era of influencers really coming to an end?

magazine
Ursula D'Aquila
8 October 2024

INDEX

Can you smell that scent of pandoro in the air? The end of the year is approaching, and with it comes a series of actions and activities that will inevitably remind us of last year’s holiday charity events.

What we’ve been asking ourselves, as we prepare for the upcoming months and still feeling the effects of last year, is: where do we stand with influencers? Are they still effective? What’s the sentiment?

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What's the current scenario?

In recent years, influencer marketing has become one of the most powerful tools in the digital landscape. But everything moves, everything evolves, including digital platforms that – at this moment – are witnessing a growing demand for authenticity and are the battleground for the creator economy.

Influencer marketing, which in 2023 reached an estimated global value of over $30 billion, continues to play a crucial role in the digital strategies of many companies. It’s expected that by 2028, it will surpass $50 billion. As of today, Asia leads the market with $19.5 billion in investments, followed by the Americas with $6.43 billion and Europe with $4.25 billion (in Italy, the business is estimated at €400 million). Data from ONIM.

So, to answer our question right away: no, the “phenomenon” is not coming to a halt, but it is changing.

We’re no longer just talking about collaborations with “big celebrities” because consumers now prefer the familiar and more accessible voices of micro and nano-influencers, who offer more authentic and personal connections. This shift reflects a new era where attention is moving from reach (our bittersweet reach) to relevance and engagement, in line with the growing demand for more genuine and approachable content.

“The power of influence has shifted from traditional gatekeepers to everyday individuals, who have mastered the art of audience captivation.”
— Mobbie Nazir, Global Chief Strategy Officer @ We Are Social – “The Future of Influence,” 2023.

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Our predictions

While some digital stars fear a slowdown in influencer marketing, predictions suggest rather an evolution that will strengthen and expand the role of influencers in the coming years. Companies will continue to invest but with more targeted strategies, focusing on niche content creators who can deliver measurable and satisfying results.

In our view, we’ll see a greater diversification of formats, with longer videos providing broader creative opportunities for engaging storytelling campaigns. While on the one hand, the speed of content consumption pushes us towards short videos, on the other hand, users – increasingly informed and aware – are asking for deeper and more intimate engagement. They want relationships, and those, dear friends, are built with effort and dedication.

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The evolution of platforms and the creator economy

Technological advancements and platform changes are transforming how influencers operate and monetize. Battlefields like TikTok, Instagram, and YouTube are increasingly implementing tools that allow creators to generate revenue without relying solely on brand collaborations.

With OnlyFans, however, a new chapter of “democratization” has opened. This platform has had a significant impact on the creator economy: by offering a new monetization model and allowing content creators to connect directly with fans through paid subscriptions, it has democratized earning potential, redefining opportunities for digital creators.

OnlyFans’ success has largely been driven by its ability to tap into the desire for intimacy and connection in a digital context, facilitating a more direct relationship between creator and follower. But don’t jump to conclusions: this model has taken hold not only in the adult entertainment sector but also in niches like fitness, music, and cooking, broadening the reach of this still controversial platform.

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We're not (yet) at the end of the line

The influencer era is not at its end but rather going through a profound transformation. The demand for authenticity, the diversification of platforms, and the expansion of the creator economy all indicate that influencer marketing will adapt to market changes, like any evolving species. However, companies will need to rethink their strategies, focusing on collaborations that emphasize not just visibility, but also value alignment and messaging. Today, more than ever, the need to build a brand communication that is consistent, coherent, engaging, and credible is key to staying competitive in an increasingly challenging landscape, where evolution is necessary to stay alive and relevant in the digital world.

So, rather than the end of an era, we are witnessing the beginning of a new phase where influencer marketing will be even more versatile and – we hope – more valuable.

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Can you smell that pandoro? It’s influencer marketing approaching. What’s the current scenario of this powerful marketing tool, and what are our predictions for 2025? We don’t have a crystal ball, but we have read the trends in the coffee grounds of our cups.

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