The year ahead: The fascinating new face of influencer marketing

For the fashion industry, capturing the attention of consumers online is no small feat.

On Instagram, engagement rates declined by about 30% year-over-year in 2022, and the reach of posts also decreased. After years of being exposed to product promotions and brand announcements, consumers are showing signs of fatigue with traditional influencer marketing. According to BoF-McKinsey’s State of Fashion 2024 Consumer Survey, 68% of respondents are dissatisfied with the amount of sponsored content on social media platforms, and 65% are more interested in fashion than they were a few years ago. It turns out that people are no longer relying on influencers. Young consumers have become especially adept at muffling noise. One study found that Gen Z loses active attention to an ad after just 1.3 seconds.

Even in this environment, influencers remain a powerful channel for brands to cut through the noise and connect with consumers, with the influencer marketing industry expected to reach $21.1 billion in 2023, up from $16.4 billion in 2022. It is predicted that. It has evolved over the past few years as consumers increasingly seek authenticity, entertainment, and relatable personality, and this trend is likely to gain further momentum next year.

According to BoF-McKinsey consumer research, consumers are far more drawn to authentic influencers they can relate to than other attributes such as aspirational lifestyles or celebrity status. Marketing and influencer companies are also echoing these findings. A 2023 study found that while beautiful and aspirational content was effective, social media users were more likely to follow influencers they considered authentic and fun.

The changing dynamics are reflected in where users spend their time online. TikTok is often seen as a platform that promotes authenticity, but it has taken the lead among some groups of users. A March 2023 study estimated that U.S. adults spend an average of nearly 56 minutes a day on TikTok. By comparison, U.S. adults spent an average of just over 30 minutes on their Instagram. TikTok’s success, which led Instagram to imitate the platform with its Reels video feature, is largely based on how content is surfaced, with an emphasis on metrics such as how long users spend posting and whether they come back. Based on. As a result, creative and interesting content can reach a wide audience, even if the creator doesn’t have a large number of followers. Meanwhile, the BeReal platform has seen a surge in user numbers in his 2022 year, and although its longevity is questionable, its emergence may be a reaction to the perceived dishonesty of social media giants’ incumbents. .

new guard

Consumers have been valuing greater authenticity online for some time, and this trend is becoming more pronounced as influencers emphasize their individuality. According to a study by Stanford University, Gen Z particularly values ​​the pursuit of their own unique identity and values ​​diversity among other attributes. This generation’s favorite platform for following influencers is his TikTok, which was also considered by Gen Z respondents in a 2022 study as the best platform for promoting products through influencers, followed by YouTube. It surpassed both Instagram.

Traditional influencers who communicate aspirational lifestyles and attract large audiences are likely to remain important in fashion marketing, but other influencers who appear less scripted and sophisticated is already gaining an audience. Quirkiness, humor, and vulnerability help this group stand out. A case in point is Alix Earle, who has amassed nearly 6 million followers on TikTok not through some viral hit but through her apparent relatability and willingness to be herself. Madeline Argy’s TikTok confessionals, which take the form of funny, fast-talking videos that include tearful questions about what DJs actually do, have amassed around 5 million followers. And Sabrina Bassoon, better known as Tube Girl, shot to fame after posting a TikTok video of herself dancing on the London Underground, an act she describes as “unapologetic self-expression.”

Although the styles of these creators are different, what unifies them is their quirky, personal approach to creating content, often driven by pure “like” pursuits or unattainable ideals. Rather than telling, you are read as authentic. The most followed person on TikTok is Khaby Lame, whose content, which features humorous silent comments on ridiculous online videos, attracts around 162 million followers.

Fashion brands are embracing these personalities and reaping the benefits. Bahsoon featured in Hugo His Boss’ most-viewed TikTok post of hers, which has over 144 million views. Lame and Argy also have a partnership in the fashion field. In preparation for creative director Sabato de Sarno’s debut in September 2023, Gucci asked Amelia DiMoldenberg, who gained popularity for giving awkward interviews at fried chicken restaurants, to attend an event. and asked to interview other guests.

Brands are also moving toward deeper partnerships with influencers, rather than one-off videos or fashion show invitations. For example, luxury brands L’Oro Piana and Audemars Piguet collaborate with a creator named Gstaad Guy, who has amassed a following by parodying the tastes and attitudes of the super-rich. Currently, both brands are wearing the Gstaad Guy costumes, including Loro Piana’s Spring/Summer 2024 show in Milan and Audemars He Piguet’s 1017 He Alix 9SM collaboration presentation in Tokyo. We are regularly invited to events such as Outside of luxury goods, the online retailer Revolve has partnered with Remi Bader, a TikToker with 2.2 million followers who gained popularity for her humorous, unfiltered account of trying on clothes as a plus-size woman. We’ve created a size-inclusive line. Recognizing the importance and influence of these personalities, brands are investing heavily in their engagement. For example, Lame reportedly signed her $450,000 deal with her boss Hugo to appear in the 2022 Milan Fashion Week show.

This new creative guard will join traditional influencers in the front rows of fashion weeks and in brand marketing, offering consumers a contrasting perspective and new channels to communicate a brand’s message. become.

be creative

Indeed, capturing and retaining consumer attention online in 2024 will require fashion marketers to break away from tried-and-true practices. In addition to collaborating with celebrities and mega-influencers, you may also need to dedicate resources to identifying talent that may currently be under the radar but has untapped potential.

When creating content, brands may want to push the boundaries beyond highly polished product promotions by developing innovative and surprising campaigns that resonate with followers and reach new audiences. I don’t know. To do this, your campaign must align with your brand’s core image and values. In its own guidance for brands, TikTok recommends creating “actionable entertainment” that can capture users’ attention and gain greater reach from benefits such as the platform’s content algorithms. Brands should also consider incorporating humor, self-awareness, and an unfiltered tone into short videos and other popular social media formats.

Some of the most successful creators are building their own online worlds, so brands that partner with them may want to give them some creative control. Rather than simply gifting an item or sponsoring a post, you can work closely with them to integrate your brand presence into the influencer’s content style. In the most ideal collaborations, brands find a way to convey their message and point of view in a way that feels seamless and authentic. For example, Gucci partnered with Francis Bourgeois, a TikTok influencer who shares his passion for Trainspotting with his followers, for campaigns including the latest Gucci gifts and fashion week activities inspired by the scenic countryside. We are working on this as a way to convey the joy and nostalgia of railways. Train travel.

Of course, the fashion industry must continue to strive to minimize potential image risks as it explores new creative directions. But a new direction can also lead to the biggest gains.

This article was first published The state of fashion in 2024is an in-depth report on the global fashion industry co-published by BoF and McKinsey & Company.