A significant amount of change is happening in the marketing and advertising industry today. Consumer behavior has shifted, and brands need to pivot their advertising strategies.
Despite massive changes, a few brands are doing exceptionally. Two examples are Liquid Death and Gymshark, which have experienced remarkable growth relatively quickly.
In this article, I will discuss how you can mimic some of the success tactics of Liquid Death and Gymshark and how to pivot to meet current consumer behavior trends.
You may be wondering why you should trust my insights. I don't have a crystal ball, but I do have a solid track record of predicting the future of advertising and marketing.
I was one of the first to realize the power of the Internet as an ad vehicle and ran some of the first ads ever on the Internet back in 1994, which promoted a Sean Connery movie.
I was also one of the first to identify Facebook as one of the most effective ad mediums ever, and ran some of the first ads on the platform in January of 2009, which promoted Showtime.
So, what is the major shift happening right now and as a marketer, how do you pivot? Consumers are not paying attention to highly-polished, highly-produced ads.
They are gravitating towards more relatable "Lo-Fi" ads that resemble relatable. Lo-Fi ads consistently outperform their Hi-Fi counterparts in terms of engagement, reach, and video views.
As a result, the Content Creator Economy is booming, and Influencer Marketing has reached new heights, amounting to $16.4 billion in 2022.
This increase in demand, however, has also led to higher prices, decreased reach, and shrinking video view lengths, which has had an adverse effect on Influencer Marketing.
In fact, Influencer Marketing, in its current form, is a mess, as brands are getting into the game late and paying more money for much less value. CPM's of $300+ for organic reach is common.
To navigate these challenges and others, here is your Six-Point Plan For Advertising Success:
Lean into the Content Creator Economy by connecting with skilled content creators who excel in generating high video views and engagement. Choose them for their content creation skills rather than just their follower count. Views and Impressions from their organic reach should be seen as added value. The true value is found in their content.
Work with skilled Creative Strategists who can provide tight creative briefs for content creators and ensure that the content engages and drives sales. The content creators are not skilled in the art and science of advertising, and while they can drive high video views and substantial CTR's, they are not experts in driving purchase intent and sales. Collaboration with the right Creative Strategists is paramount for success.
Collaborate with skilled AI executives to leverage artificial intelligence for marketing. This allows for creativity at scale and efficiency, utilizing tactics like customizing prompts using ChatGPT's API. Jump into next-level AI strategy and tactics--for more on this topic, see my YouTube Video, "Better Ads With ChatGPT".
Go Big With Niches by customizing ads for specific groups within your target audience. Use AI and content creators to create ads that resonate with different segments. For example, if you are marketing a protein bar, create several ads with Content Creators for Yogis, Pilates Specialists, Gym Rats, Corporate Executives, etc. Connecting with prospective customers in the newsfeed is more important than ever to drive awareness, purchase intent, and sales. Prospective customers will listen to what you have to sell, only if you are on their wavelength. Ads that highlight common interests or provide solutions to their problems will grab attention.
Rely on paid media instead of organic reach to convert new customers. Influencer audiences are valuable but comparatively they are very expensive to reach organically, so paid media becomes crucial for driving new customers and warming up existing prospects.
Go against Facebook's best practices--Set up multiple ad sets that target different audiences with customized creative. This approach allows you to maintain control while tapping into the algorithm and optimizing your campaign based on performance. Delete the losing creative and ad sets, and double down on the winners.
Execute the above strategies over the next 12-24 months, and you'll be highly successful. If you need support, set up an exploratory call with us, here.
With 15 years of experience, a network of influential creators, and a team of skilled social media professionals, we'd be happy to help you drive awareness, purchase intent, and sales for your brands.