Fads are Easy, and Trends are Not.
It doesn’t matter if you grew up watching MTV’s Total Request Live hosted by Carson Daly or watched MTV’s many reality shows. Then and now, every celebrity is dressed with designer swag that has driven consumers to want it. They were the influencers of their time. The latest Oakley, the newest sneakers from Allbirds or UnderAmour. or hearing a song for the first time on MTV helps promotes brand awareness for the product they are wearing. The status of being the first in your school with the outfit from TRL was the best status update you could have and still relevant today. Music and Fashion Industry Definitions “A fad is a short-lived phenomenon, fading in a relatively brief period. When the fad runs its course, you can expect to see a marked decrease in social conversations, a rise in negative conversations, and low user retention levels. By comparison, a trend has a much longer lifespan and is far more sustainable as a market force than a fad. Trends indicate long-term market influence, an increase in positive social conversations, and a high user retention rate. ” With the expansion of social media, influencers, and streaming music and video, businesses use these platforms to expand to those interested in getting their products faster – early adopters. Influencers are the primary form of word-of-mouth marketing like TRL, but its viral expansion changes the effect on business models. Hubspot explains some facts about influencers.
- 80% of marketers say influencer marketing is effective, and 89% say it works just as well (if not better) than other marketing channels.
- 71% of marketers say the quality of customers and traffic from influencer marketing is better than other sources.
- 49% of consumers today depend on influencer recommendations for their purchase decisions. 60% say they’ve been influenced by a recommendation when shopping in-store.
- Google searches for “influencer marketing” grew 1500%in the last three years.
- 48% of marketers working with influencers say audience relationship is the most valuable factor when considering which influencer to collaborate with.
- Influencer marketing strategies focused on branding or engagements generate 8x ROI.
- The top three goals of influencer marketing for businesses include increasing brand awareness (85%), reaching new audiences (71%), and generating sales and conversions (64%).