In 1994, The song would gain more exposure and popularity when it was covered by R&B artist Mary J. Blige for her second album, My Life. She also changed the title from "I'm Going Down" to "I'm Goin' Down". Due to the heavy airplay that it received, Blige's version went to the Hot R&B/Hip-Hop Songs chart, reaching number thirteen and on the US Billboard Hot 100, where it peaked at number twenty-two, making this her second single (after "Be Happy") to reach the Top 40 of the Billboard Hot 100 chart. This song is also frequently performed at many of her concerts and as well as live sets, and receives much more airplay than the original to this day.
The music video for Blige's "I'm Goin' Down" was directed from January 14–15, 1995 by Matthew Rolston and features the video in black and white-form, with Blige singing in a club, and wearing an-all black suit with a matching hat, walking downstairs (being duplicated over and over again).
On the episode season 3 finale of Sister, Sister, Tamera (Tamera Mowry) covered the song for a talent show, winning a bet that her sister Tia (Tia Mowry) had with her enemy—and Tamera's opponent, Marva.