#TikTokMadeMeBuyIt has 3.3 Billion views and counting! Scramble FAST to capitalize!! 😁🤑
Part One is all about What We Know in our two-part trend report.
WELCOME to $5.vc, your source of differentiated startup intel!
* We break down the new market indicators & behavioral consumer trends we're tracking, then figure out the unlock to growth & revenue.
ICYMI in the last 10 weeks we covered:
THIS WEEK’S DOPE NEW STARTUP IDEA COVERS:
* Influencer Marketing + Influencer Apps + Community Commerce 🔥
WHAT WE KNOW:
* The Market Indicators & Behavioral Consumer Trends we've identified.
>> [ the community commerce that fuels TikTok! ]
- thanks julia! https://twitter.com/juliagrayok
The platform has a powerful, connected consumer ecosystem that’s in constant flux, while setting trends and creating stars...and, well, companies.
#TikTokMadeMeBuyIt (3.3 billion views) is stamped across tons of videos on the app—where users unbox and review everything from yoga pants and reusable straws to vacuums and neon toilet bowl lights.
“The reason #TikTokMadeMeBuyIt is such a huge trending hashtag is because of this idea of community commerce,” Cleary said. “It's fueled by discovering and sharing new ideas, new products, new brands.”
>> [ influencers are the new retailers! ]
- thanks liz! https://twitter.com/liz__flora
Founded by John Aghayan, who also acts as CEO, Emcee is a site and soon-to-be iOS app that offers influencers the opportunity to create a curated storefront on its platform with commissions ranging from 5-25% on items sold.
In contrast to other affiliate links programs that link out to a brand’s site, Emcee is integrated with Shopify’s “sales channels” platform to allow on-site checkout for participating brands.
To reach Depop-obsessed Gen-Z shoppers, the platform also allows influencers to directly sell their personal items on their storefronts.
“Influencers are amongst the most powerful retailers,” said Aghayan.
>> [ influencer marketing to hit $3.69 Billion this year! ]
- thanks MMR! https://twitter.com/mmarketingreads
Influencer marketing spending in the United States is expected to increase by over 30% to $3 billion in 2021 and surpass the $4 billion milestone in 2022, according to eMarketer.
eMarketer expects that US spending in influencer marketing will grow 33.6% to $3.69 billion by the end of this year.
Meanwhile, the company also forecasts that social network ad spending in the United States will surpass $58.66 billion this year.
>> [ EXPRESS shoots its $1 Billion influencer marketing shot! ]
- thanks sara! https://twitter.com/sarajanenyc
Express is attempting to take its influencer marketing to new heights with its new Express Community Commerce program, driven by “Style Editors,” a mix of influencers, micro-influencers and regular shoppers.
The Express Community Commerce program is part of an initiative shared in the first quarter of 2021, with the goal of driving $1 billion in e-commerce sales by 2024.
“The Express Style Editors will be a network of like-minded, entrepreneurial individuals. We’re going to coach them, train them, and provide mentorship and meet-ups. And essentially, they’ll have the ability to create their own storefronts, housed on a webpage, which they will promote and link to from their own social media accounts.”
Based on the June earnings call, Express focused on brand awareness influencer activations in the first quarter and saw sales driven by influencer marketing increase by 30%.
>> [ TikTok is the marketing funnel of all marketing funnels! ]
- thanks seb! https://twitter.com/seb_joseph
L’Oréal has amassed a sizeable e-commerce business over the years, spanning branded stores, affiliates, social networks, and marketplaces. Next up: TikTok.
“You can go through the whole marketing funnel in one step on TikTok,” said Lex Bradshaw-Zanger, CMO of L’Oréal U.K. and Ireland when explaining why commerce on the video app is different from its peers.
“Someone sees a creator talking about a product in a way that’s relevant to them and at the click of a button you’re at the product page making an order,” said Bradshaw-Zanger.
“TikTok, among other channels like Snapchat and YouTube, are proven channels to create stickier relationships with these young consumers outside of more traditional retail channels.”
THE DOPE IDEA & THE BRAND EXECUTION:
* Taking the idea and amplifying that into tactical action.
See you next week for the second half of our two-part report.
We’ll discuss on how to position ourselves as a new player in the Influencer Marketing + Influencer Apps + Community Commerce space — and get into the development of the Brand IP, securing a legit Domain Name, then making it Internet LIVE.