The way we consume media has changed. A massive social media boom has led consumers away from print magazines and other traditional forms of finding products and trends. More than ever, Instagram, fashion blogs, and other social channels are becoming essential voices. As a result, this shift has led to the emergence of influencer marketing.
The McKinsey State of Fashion 2019 report found that in a survey of Millennials, they were more likely to, “find inspiration from external sources such as influencers or friends than directly from the brand or retailer.” Also, 41 percent of them say “they rely on influencers and bloggers, compared with just 20 percent who put their faith in store employees.”
The Reach of Influencer Marketing
For this reason, fashion and beauty companies are leveraging these content creators. These bloggers have large followings and drive engagement and brand awareness to their audience. This partnership turns out to be a great return on investment. In a BlogLovin’ study, 67% of marketers said influencer marketing campaigns were effective in helping them reach a more targeted audience.
Revolve is a company that made influencer marketing an essential part of its marketing budget. The Los Angeles-based e-commerce clothing brand set aside around $14 million for influencer and social media marketing in 2017 alone. That figure far exceeds the average influencer marketing budget of $500,000 – $1m by other companies.
One of their campaigns produced more than $1.26 billion in sales revenue and over 4 billion social impressions, according to Glamour UK. This case study proved how effective partnering with influencers was. In the beauty realm, MAC Cosmetics remedied slowing sales and managed to attain double-digit growth through a partnership with YouTube sensation Patrick Starrr. Meanwhile, YouTube beauty guru and cosmetics mogul, Jeffree Star earned $18 million in 2018 alone, becoming the fifth-highest-paid YouTube star in the process.
From #Sponsored to #Collab
Now, many influencers are going from merely having a paid sponsorship with a brand to designing their collections in collaboration with one. Fashionista.com detailed how Natalie Lim Suarez launched two successful capsule collections for design mockups brand INSPR.
Another popular Instagram blogger Brittany Xavier also started a capsule collection for the digital brand. At the same time, Macy’s jumped on as a platform for the digital sales of the collaboration. Ultimately, Macy’s management admitted that the partnership gained them more customers and an improved bottom line.
By 2020, influencer marketing is looking to become a $5-10 billion industry according to MediaFix. If you’re interested in connecting with the top influencers and bloggers of 2019, reserve your seat at a show near you.
Apparel Textile Sourcing Miami– May 28th-30th, 2019
Apparel Textile Sourcing Canada August 19th-21st, 2019
Apparel Textile Sourcing Germany September 11th-13th, 2019