In the late 2010s, influencer marketing gained prominence alongside the rise of social media. This strategy involved collaboration between small to medium-sized brands and popular social media personalities. The aim was to promote products and services to new audiences that were previously inaccessible. This natural progression followed the path of marketing, which always aligns with popular mass media. If marketing’s objective is to create an ideal consumer image so appealing that people aspire to become that consumer, then influencer marketing was tailor-made for success. The ideal consumer transformed from scripted ads to real-life influencers. This approach allowed brands to specifically target audience segments by choosing influencers to collaborate with, effectively gaining access to their follower communities.
The Power of Influencer Marketing
The influencer market currently boasts a value exceeding $16 billion, having expanded by over 50% in the last five years according to McKinsey & Company. The impact of influencer marketing in achieving widespread exposure with minimal production effort is evident in simple social media campaigns. For instance, Moncler’s 2020 #MonclerBubbleUp TikTok challenge required users to dance to a popular rap song while swapping outfits inspired by Moncler clothing. Targeted influencers received actual Moncler products to set aspirational examples for their followers. This challenge surpassed global benchmarks, accumulating over 7 billion views and engaging 2.6 million creators. Moncler gained 170,000 new followers during the campaign, transforming ordinary users into overnight medium-sized influencers.
Adapting to Gen Z’s Preferences
In the past, luxury brands centered their marketing on aspiration, often featuring elaborate campaigns with extravagant celebrity endorsements. However, such approaches didn’t resonate with the upcoming generation of luxury consumers: Gen Z. Unlike older generations, Gen Z values authenticity and immediate connection. Brands successful with this audience focus on personal stories and specific communities. Gen Z doesn’t prioritize traditional authority figures; they trust community beliefs over established institutions.
The Rise of Mega Influencers
Emma Chamberlain, a mega influencer, embodies Gen Z’s media landscape. Chamberlain gained fame on YouTube at 16, amassing over 12 million subscribers. Her casual, relatable approach covers topics from fashion to philosophy. Brands have recognized her reach, with Louis Vuitton dressing her in bespoke outfits for events. This investment yielded a media impact valued at $16 million during the 2022 Met Gala. Chamberlain’s partnership with Lancôme further exemplifies this trend. She hosts a web series shot in her signature style, providing an intimate look at the French beauty house. This collaboration captures Gen Z’s preference for authenticity.
Navigating the Shift in Brand Identity
Luxury brands may hesitate to surrender control over their narratives. Embracing influencer marketing means entrusting influencers with reshaping the brand identity. However, careful collaboration choices can refresh the brand for a new generation. Social media data helps identify consumer preferences and repulsions, guiding brands in selecting influencers aligned with their goals.
The Emerging Gen Z-Led Creator Economy
The creator economy, led by Gen Z, presents a landscape where relationships matter as much as views. Luxury brands have the advantage of investing in major creators, fostering broad reach among Gen Z, the future luxury target audience. This new approach marries the brand’s essence with Gen Z’s affinity for authenticity.
Expanding the Influence
As influencer marketing continues to evolve, brands must adapt to Gen Z’s preference for authenticity and connection. This approach shifts the focus from aspirational luxury to relatable and intimate stories. Collaborating with influencers allows brands to reach new audiences, although they must carefully choose partners aligned with their identity. Harnessing social media data further refines this process, ensuring the best fit for marketing goals. In the creator economy, luxury brands can amplify their presence among Gen Z by investing in influential creators, cementing their place in this evolving landscape.
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