Submitted by jurgen on
With influencers increasingly becoming business as usual for brand communications, the risks that come with influencer marketing are now becoming apparent: inappropriate endorsements, lack of transparency and fake followers all damage the credibility of the influencers and the brands that use them, not to mention the trust of their followers.There may be risks, but there are also big opportunities for influencer marketing to prove its worth in 2020.
Kantar has brought together expert insights and trusted datasets to provide the essential Media Trends & Predictions for marketers, PRs and communications professionals, media owners and agencies.
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Personal care lessons from BrandZ.
Have a purpose
It is not necessary to communicate a higher purpose, but the consumer will expect the business to be driven by some direction other than making money alone.
Look outside the category
Look outside the category for new ideas. Look at food, at healthcare, and particularly at technology brands that are harnessing data responsibly to meet consumer needs in a more personalized way. Be transparent and offer a fair value exchange.
Explore AI
Explore greater use of artificial intelligence, in collaboration with social media partners, as a way to engage, entertain, and educate consumers who are looking for advice about beauty and personal care. These are additional touch points to build—and monetize—consumer relationships.
Accept complication
There is no one-size fits all. Brands are attempting to simplify and personalize their products, while also reducing their environmental footprint. Some consumers are willing and able to pay a premium for these benefits.
Learn differently
Incubate. Experiment on a small scale. The major brands have much more data than the start-ups and should have a clearer picture of emerging consumer trends and an informed point of view. The opportunity, compared with an ankle-biter brand, is to use those insights to build scale.
Keep calm and carry on
Learn from the ankle-biter brands, but do not overreact. Panic is not a
productive reaction and overcorrecting can be costly and wasteful. Focus on the brand’s core strengths and build community around those. More and more online start-ups are moving into physical retail, which suggests that where big brands began is not such a bad place to be.
Find the individual in the data
Innovation is critical. It is also a buzzword, its meaning diluted from overuse. Do not abandon innovation but reframe thinking around innovation. Start with thinking about the future of your category and your consumer. Have a vision of where the brand needs to be in two or three years. The right approach for getting there depends on the company ambitions, internal mandates, structure, and appetite for disruption. Possibilities include incubators, partnering with a start-up, and co-venturing opportunities.
Get in touch with Isabelle Mérillou for more information.