Influencers Drive $21B Market

🚀 TikTok Shopping Trends: Creative Best Practices for Your Holiday Strategy

June 26, 2024


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INFLUENCER MARKETING

📈 The Evolution of Influencer Marketing in 2024
Insights from Famesters

Influencer marketing has grown significantly, reaching $21.1 billion in 2023, up from $1.7 billion in 2016. The market is projected to continue this upward trend, aiming for $21.1 billion in 2024.

The Scoop:

  • Key Insights: 63% of brands have dedicated budgets for influencer marketing, with 67% planning to increase their spending. More brands are running multiple campaigns, with 39% planning 6-15 campaigns annually. Spending varies, with 43% allocating less than $10K and 11% spending over $500K.

  • Challenges and Success: Determining ROI remains a top challenge, with 60.36% of marketers struggling. Influencer-generated content (IGC) is highly valued, with 66% of brands finding it performs better than branded content.

  • Platform Preferences: TikTok leads with 55.5% of brands using it, followed by Instagram (50.8%), YouTube (42.1%), and Facebook (38.3%). TikTok boasts the highest engagement, especially among nano-influencers with 1K-5K followers achieving a 15.04% engagement rate.

Influencer marketing is set to continue its upward trajectory in 2024, with increased budgets and more campaigns. The challenges of measuring ROI and maintaining content quality remain, but the high engagement rates on platforms like TikTok indicate that influencer marketing is a vital tool for brands.

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TIKTOK

🚀 TikTok Shopping Trends: Creative Best Practices for Your Holiday Strategy
Insights from TikTok

As the holiday season nears, refining your TikTok marketing strategy is crucial. TikTok’s new 12-page guide provides insights and tips to help you effectively connect with prospective shoppers through promotions and creative content.

The Scoop:

Discovery Trends: The guide emphasizes key discovery trends within TikTok, noting how these patterns change during the summer months. Aligning your marketing with these trends can enhance engagement.

Holiday and Event Insights: Detailed insights are provided for significant shopping events such as July 4th, Prime Day, and back-to-school periods. Leveraging this information can help you time your promotions for maximum impact.

Creative Best Practices:

🔊 Think Sound, Sell More: Combine popular tracks to set the mood, use clear and concise voiceovers to explain products, offer tips, or add a personal touch, enhancing the appeal of your ads.

📊 Statistics to Note: Using sound increases communication of new information by 55%, 73% of users are drawn to sound on TikTok, and 90% consider sound crucial to the TikTok experience.

🎯 Hook ‘Em in the First Few Seconds: Capture attention with enticing hooks like "Everyone’s talking about this [product]!", "Struggling with [problem]? I have the perfect solution!", "This amazing [product] is just $[price]!", or "Calling all [target audience]!"

📢 Sell It, Don’t Forget the Call to Action! Always end with a clear and compelling CTA, such as "Click the link in bio to learn more!" or "Buy now for a discount!"

Follow the tips for using sound, hooks, and CTAs effectively. Utilize TikTok’s Top Ads Dashboard, Keyword Insights, and Creative Strategies to see what works best for your brand. Develop your strategy with the guide's step-by-step approach to ensure efficient campaign execution.

AI INSIGHTS

🌍 Travel Inspiration: Social Media Outshines AI
Insights from Statista

The Scoop:

Generative AI tools like ChatGPT offer a range of possibilities, from writing emails to planning trips. Despite their potential, their use in travel planning is still emerging, with many unaware of AI's capabilities in this area. Deloitte's 2024 summer travel survey reveals that only 10% of Americans planning a vacation this year intend to use AI for trip inspiration or information, with Millennials being the most frequent users at 17%.

In contrast, social media platforms like TikTok and Instagram dominate travel inspiration. According to the survey, 44% of Gen Z travelers rely on short-form videos for travel ideas, reflecting TikTok's popularity among younger users.

QUICK SCOOP

🆓 Want to learn how the pros do B2C influencer marketing? Subscribe to Return on Influence a free newsletter by Eleni Zoe from team Modash and discover what influencer marketers do behind the scenes to run profitable campaigns. Get it twice monthly, with 3-5 minutes of tips each time. Subscribe now with one click!

🏃🏻‍♂️Google announces the end of continuous scrolling in search results (SERPs) to improve speed, replacing the 2021 feature that displayed multiple pages without clicking "next." 

🎯Google Ads launched a new Cross-Media Reach Measurement feature for video campaigns. enabling advertisers to track deduplicated, on-target reach and frequency across various platforms, including YouTube and TV, as well as across devices, formats, sites, apps, and networks. 


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