Having evolved over several centuries, the fashion industry is now worth billions of dollars. Social media and the advent of Influencer Marketing have been key factors in the fast development of the fashion business over the past decade.
Many people in today’s society look to their favourite social media personalities and influencers for recommendations on what to buy. How to style themselves, and what they should consume.
These influencers are seen by companies as a way to market their products and services as well as increase their number of customers. And there have been tremendous upheavals in the world of fashion over the course of the last ten years.
Hence, this article is your one-stop destination for learning more about the fashion industry and its influencer marketing.
Rise of The Fashion Industry:
The fashion industry is constantly growing to fulfil the ever-evolving demands of its customers. As new trends in clothes are introduced on a regular basis. With a compound annual growth rate (CAGR) of 9.8 percent. It is anticipated that the value of the global apparel industry would rise from $551.36 billion in 2021 to $605.4 billion in 2022. The global market for clothes is projected to reach $843.13 billion by 2026. With a CAGR of 8.6% between 2017 and 2026. Even though the pandemic has wreaked havoc on the supply chain. Demand is erratic, and there is ongoing pressure on earnings. The fashion sector is still facing a number of serious issues.
However, these challenges have allowed these businesses to explore new channels of communication by employing Social Media Influencers. At this point, the industry is stronger than it has ever been, and data suggests that it will continue to expand in the years to come.
RISE OF FASHION INFLUENCERS-
There’s always something fresh to try in the Fashion Market because styles and trends are always evolving. Social media has provided a platform from which even the most minor businesses may broadcast their most important marketing messages to the masses.
Companies in the fashion industry noticed an increase in the number of “Fashion Bloggers”. And “Fashion Influencers” on social media and realised they could connect. With their target audience through Influencer Marketing campaigns. Thereby expanding their customer base and increasing profits. Because of the great level of trust. Their audience has in them, fashion bloggers and influencers have the ability to set trends and influence consumers’ purchasing decisions.
The fashion influencer marketing area bridges the gap between the runway and mainstream culture. In a way that traditional advertising channels like television and print media cannot. The rise in popularity of social media influencers can be attributed. To the fact that they are simple to engage with and follow.
Consequently, marketers can build vibrant communities around. Their products by collaborating with fashion influencers and establishing a robust presence on social media. As a result, it should come as no surprise that the fashion industry has the most advanced influencer marketing. In 2019, its market cap was a staggering $1.5 billion, and analysts predict it will grow to $17.2 billion by 2027.
These influencers’ loyal fan base makes it more probable. That the audience will try a product or buy an item of apparel solely on the influencer’s recommendation. Therefore, these style icons carry a lot of weight when it comes to making a purchase decision. In order to increase sales and connect with consumers they couldn’t reach through conventional channels. Several major players in the fashion business are seeking partnerships with influential figures from the online community.
The use of influencers in the fashion and lifestyle industries may seem simple at first glance. But in reality, it is rather complex. Learn the fundamentals of influencer marketing in the fashion industry from the ground up in this blog post.
How Fashion Brands & Industry Can Benefit from Influencer Marketing –
1. Influencers Enhance Audience Understanding:
You can learn more about your target market’s tastes by using an influencer marketing strategy. You may learn a lot about how people view your product or brand based on how they react to your advertising. This information will also be useful in making improvements to your items that better meet the requirements of your target market.
2. Connects Customers To Your Brand:
When influential people post great things about a brand on social media. The audience for that brand may feel more compelled to invest in the brand. With the help of influential people, you will have a better chance of getting the message of your brand. Across and highlighting the distinctive selling points of your product. The influencers will also bring attention to the aspects of your brand that set it apart from the competition.
4. Influencers Create Demand For Your Product/Brand:
When people have a clear understanding of why they need a product or service, they are more likely to make a purchase decision. That demand can be stimulated by influential people. The influencer campaign you design will explain to consumers why they must have your wares. And this step is absolutely necessary for making sales.
5. It Gives You A Competitive Edge:
In order to be ahead of the competition, influencer marketing is a must. Through this method of advertising, you can effectively present the benefits of your brand to potential customers, giving them a sense of why they should choose your product over the competitors.
6. Allows Appropriate CTA Placement:
You can direct the audience to take any action you desire towards your brand with the help of influencers. The goal of this could be to raise awareness of an existing brand or to boost sales. Campaign objectives might be more effectively framed with the assistance of influencers.
Now that we understand why influencer marketing is so important in the fast-paced fashion and lifestyle industries. We can start brainstorming some influencer marketing campaign ideas and concepts.
Here are a few ideas:
WHAT ARE THE BEST WAYS FOR BRANDS TO USE FASHION BLOGGERS IN INFLUENCER MARKETING?
Product Marketing:
If you want to run a successful fashion influencer campaign. The most common tactic is to offer influencers a discount on their next purchase. Or even a free product in exchange for them promoting your brand. After that, they will be able to style their own looks using your goods and publish. Those looks on their websites, social media accounts, stories, etc.
Use Affiliate Links To Boost Sales:
If you can convince significant people to advertise your upcoming sale on social media by showcasing some of their favourite things. Then you will have a far better chance of making sales. If an influencer is offered compensation for bringing in new customers. Through the use of an affiliate link, there is a greater likelihood that the influencer will promote your firm.
Exclusive Promotional Codes:
People are always looking for ways to save money. So offering exclusive promo codes to your most influential customers is a terrific way to boost sales. And figure out who is sending you the most customers.
Social Media Takeover:
A fantastic alternative to the traditional sponsored post is the full-scale takeover of a social media platform. For example, a social media influencer can spend an entire day acting as your brand on Instagram and generating content. Give the influencer the ability to make changes to your Instagram feed, Instagram Stories, and Instagram Reels in order to attract more of their followers.
Engage And Personalise Your Brand Via Technology:
You may generate interest in your brand with cutting-edge technology in today’s market. An example of a technology that can help your influencer marketing efforts succeed is Augmented Reality (AR). Since Instagram lets anyone make their own AR filters, it’s a simple yet powerful method to become recognised.
Top-tier fashion houses have been quick to adopt this lighthearted trend in an effort to liven up their digital presence. With Prada and Gucci being just two examples. Why not employ augmented reality to enhance your influencer marketing initiatives too?
- Construct an augmented reality filter that buyers can use to flaunt their new purchases.
- Incentivize customers to make an augmented reality filter for your items by hosting a contest.
- Put out media demonstrating to viewers how to use AR to accomplish a specific style.
- Activate your augmented reality filters and have your followers save, use. And tag you in their images (or utilise a dedicated hashtag).
CONCLUSION
Because of the cutthroat nature of the fashion industry today, marketing to fashion influencers is crucial. It’s a great way to familiarise customers with your business, showcase your individual sense of style, and put them at ease while they’re shopping with you.
If you want your influencer marketing effort to be more successful, focus on creating a community in specific subsets. You can use this method to identify the most dedicated followers. You may get some great ideas on how to make your influencer marketing efforts. Stand out by looking at what other sectors are doing in this area.
Make an effort not to let overthinking or the fear of making a mistake paralyse you. There has never been a better time to get started. So start your adventure in influencer marketing today and reap the benefits for years to come! There has never been a better opportunity to get started.