In the ever-evolving landscape of marketing, the rise of digital platforms has completely revolutionized the way brands engage with their audience. The days of traditional advertising dominating the market are gone; now, it’s all about digital marketing strategies that seamlessly integrate into consumers’ online experiences. From social media influencers to viral TikTok trends, the digital sphere has become a platform for brands to connect, engage, and thrive [4].
Current disengagement and uncertainty with indirect, mass media marketing is leading towards many companies incorporating event marketing and experience-based marketing as part of their strategy. This is especially pertinent to companies who want to capture the millennial and Gen Z audiences, as these demographics have proven to respond better to experiential marketing over traditional marketing techniques. One big example of this can be seen with music festivals and concerts, as recent studies have shown that billions of dollars are spent annually by brands on advertising their products at music festivals.
This week the SEC fined Kim Kardashian $1.26 million for illicitly touting a cryptocurrency on her Instagram. The SEC’s move sends a message to marketers and influencers that promoting cryptocurrency is not the same as promoting whitening toothpaste or a handbag. Understanding how digital assets can be marketed is still unclear to many, and Kim K’s settlement with the SEC highlights both the importance of being familiar with promotional regulations and the fluidity of the marketing field.
Taco Bell’s latest advertisement campaign pokes fun at market leader and competitor McDonald’s. The ad features singer Doja Cat escaping from a clown school whose ice cream machines are broken. Sound familiar? Using comparative advertising, influencer and social media marketing, and rewards program incentives, Taco Bell’s recent ad campaign not so subtly asserts their superiority over the fast-food leader plagued by broken ice cream machines.
Celebrities can attract new customers, boost sales, and be iconic in advertising campaigns. With increased importance placed on social media marketing, endorsements can also come from smaller scale stars like Instagram influencers. Consumers will buy a product or service because their favorite influencer raves about it on Tik Tok or to support their favorite actress’s new product line, regardless of the celebrity’s actual involvement in product creation. [i] Despite the enormous benefits to celebrity and influencer endorsements, marketers face equally great risks to partnering their brand or product with an individual. Scandal and controversy are difficult to predict and can damage a company’s reputation and sales.
For many months now, TikTok has become the darling of the American public, logging more than 315 million installs in the first quarter of 2020 – not to mention the millions of installs since the initiation of mandated lockdowns. Many companies have tried to reach large follower bases on TikTok by paying creators to use specific songs, wear branded clothing, and directly promote products in their videos, but President Trump has issued an executive order banning the app in the US unless it is bought out by an American company. So, what happens to the community now that the platform may be disappearing in just a short month?
“Influencer Marketing” is as hot a buzzword as “Big Data” became a few years ago. It’s not just for Kardashians anymore; anyone with the right follower count has a shot of making a career out […]
As the use of influencer marketing continues to grow, there are several trends to expect in 2017.
Marketing Management 