Buttermilk’s Jamie Ray sees Cannes Lions’ refresh of the social and influencer Lions as a sign that the sector continues to mature. He invites non-endemic brands to try it. Crafted by today’s creators, the trajectory of influencer marketing has been steep and rapid.
While fast growth isn’t difficult from a standing start, sustaining it and translating it into long-term growth is a different matter. Which is why the current figures from Goldman Sachs are so interesting. Here we have proof of what a significant force the creator economy has become.
Goldman Sachs predicts that by 2027 it will be worth $480bn – which means no matter what the category, brands can ill afford to ignore this in their marketing mix. There’s a good reason for this. Creator marketing offers that elusive blend of brand building and performance – something that other advertising methods simply can’t do.
And where beauty, fashion and lifestyle lead – think Huda Beauty or Loewe – the expanding creator economy now means sectors from tourism to food production, technology to publishing are tapping into the power of these communities. Advertisement Moving into creator marketing can undoubtedly be an uncomfortable adjustment for some brands, especially accepting that they don’t have to control the entire narrative. A great technique is to ‘magpie’ – if brands look at the commonalities of why it works for other brands and sectors, they can apply this to their own businesses, and the o.