![]() ![]() Q: How will the market downturn impact marketing budgets in 2023? A: The move towards a bear market is inevitably going to focus budgets on things which deliver core business objectives. Our survey found that, when it comes to social media, seniority has a major impact on how individuals perceive and demonstrate the value of social.ĮXPERT PERSPECTIVE Chris Thomas Global Social Intelligence and Optimization Lead, Sage This is where social media practitioners run into problems. And in the marketing department, the pressure will fall on individual contributors and middle managers to clearly demonstrate the value they bring to the table. Social media’s newfound visibility has the potential to open it to higher levels of scrutiny-especially as leadership whips out the magnifying glass over the coming year.ĭuring market downturns, many execs will look to shore up costs and manage expenses as much as possible. Spend on social media relative to pre-pandemic levels is going up too-and it’s predicted to increase steadily over the next five years. While marketing budgets have climbed to nearly 10% of total company revenue in 2022 (up from 6% in 2021), they still lag pre-pandemic levels. (If you’re one of the 4% who said otherwise, we’re here to help.)īut what’s telling is that this confidence is clearly reflected in th e proportion of the marketing budget allocated to social. It should come as no surprise that almost every social media marketing practitioner we surveyed says social media marketing has value. Beyond that, Pantee uses partnerships with creators as an opportunity to showcase their products on a multitude of shapes and sizes to contribute to the normalization of all bodies. ![]() Pantee has been working closely with TikTok and Instagram creators whose self-described mission is mindful shopping to better reach the communities that align with their brand's sustainability mission. ![]() We always strive for truth and transparency.” If a creator wouldn’t buy from us, we don’t feel comfortable working with them to promote our brand. “We really look to collaborate with creators who have a clear connection with our mission and truly love our products. “We’ve started working with creators who are passionate about the same things we are”, says Pantee co-founder Amanda McCourt. To double down on their principles, they partner with creators who not only share their values but who truly love their products-particularly those advocating for sustainability, mental health, and body positivity. Pantee made it their mission to challenge the fashion industry by making comfy underwear with this deadstock, for women by women. Currently, the fashion industry produces an estimated 92 million tonnes of textile waste each year, and with approximately 30% of clothes made never even sold, the excess (deadstock) is often destined for waste. UK-based sustainable underwear brand Pantee has masterfully blended its creator strategy with its mission to reduce fashion waste and make the world a more comfortable place. ![]() TREND IN ACTION Pantee teams up with creators who share their values, uniting on their mission to reduce fashion waste Share this now share this facebook share this linkedin share this twitter share this email share this link Copied to Clipboard! “Student Beans also has proprietary pricing benchmarks, based on the media value of a creator: which helps us - and our clients - overcome the inconsistency of creator/agency fees across TikTok.”įrom expensive creator agencies to massive variations in the way creators price themselves, many smaller businesses feel in the dark about how much they should pay to work with creators. “There’s such a lack of standardisation over how much work should cost that negotiating good prices gets complicated-we treat influencers as a media buy within a media plan, and we price accordingly,” says Soave. "Our main challenge is the volatility of pricing, especially on TikTok,” says Ruby Soave, Head of Influencer Marketing at Student Beans. What’s the biggest barrier to entry for small businesses? Cost. Our social trends survey found that smaller organizations are the least likely to work with creators 72% of small businesses (those with less than 100 employees) don’t work with creators in any capacity, while nearly 42% of businesses with over 1,000 employees do work with creators. The majority of small businesses don’t work with creators-yet ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |