The latest report from Launchmetrics emphasizes the importance of visibility, user conversion to consumer, and communication strategy when it comes to utilizing TikTok for fashion, beauty, and luxury brands. The report highlights how TikTok has become an ideal platform, particularly for Millennials and Gen Z, with its significant user base of 200 million active users in the United States and Europe. In fact, it has garnered 380 million downloads in the first half of 2021 alone. With the recent launch of a shopping feature, TikTok is following the footsteps of other popular social media platforms like Instagram and Facebook, making it even more enticing for brands to establish a presence on this ever-evolving app.
According to Launchmetrics’ report titled “The Rise of TikTok: The Power of Creator and Content in 2021,” a striking 68.8% of luxury, fashion, and beauty professionals are investing in TikTok to engage with a new group of customers. This reflects the changing landscape of marketing, where brands are no longer solely focused on one-way brand communications. Instead, they recognize the importance of active conversations and dialogue with consumers. Alison Bringé, CMO of Launchmetrics, emphasizes that brands that understand this shift in consumer behavior and adapt accordingly will experience exceptional outcomes. Today’s consumers seek authentic, inclusive, and relevant content, and TikTok’s inherently creative and entertaining nature perfectly aligns with these needs and expectations.
An essential aspect of developing an impactful marketing strategy on TikTok is identifying the “right” content creator. Launchmetrics’ report reveals that TikTokers represent 72% of the platform’s Share of Voice and have a strong connection with their community. Interestingly, brands do not necessarily need to collaborate with creators who have millions of followers to generate visibility and attractiveness. Micro Creators with 10k to 100k followers are preferred by around 69% of professionals. However, despite the abundance of influencers on TikTok, 18.8% of professionals struggle to find the ideal creator to promote their brand. Alison Bringé stresses the importance of brands having the right tools to not only identify voices that amplify their messages but also measure the effectiveness of their marketing activities. This enables them to make informed decisions for future strategies.
Keeping up with trends is another significant reason why professionals are investing in TikTok. The platform offers several popular categories that drive conversations and purchase opportunities for brands. These categories include Experiences, which allow users to simulate owning luxury brands; Showcasing, which highlights a particular lifestyle; Unboxing, which involves unpacking and discovering product details with the community; and Tips & Tricks, which provide advice and tips on pieces with special or hidden features. These trends not only foster discussions among users but also influence their purchasing decisions. According to Launchmetrics, 38% of TikTok users discover new products or brands through the app, while 61% show a preference for a brand that participates in or creates a trend.
Overall, Launchmetrics’ report underscores the immense potential of TikTok for fashion, beauty, and luxury brands. From its large user base to its creative and engaging nature, the platform offers opportunities for brands to connect with their target audience, drive conversions, and stay relevant in the ever-changing world of social media marketing.
Useful links:
– The Rise of TikTok: The Power of Creator and Content in 2021
– TikTok for Fashion, Beauty & Luxury Brands: A Data Report by Launchmetrics
