Everywhere we look today we can access virtually any kind of content, many are of course subscription based, whilst the majority are focused on delivering us TV Box sets, libraries of movies, and even live sport, I ask myself "is there a potential untapped opportunity for companies involved in TV Shopping"?
Lets have a look at the unabated rise of the micro influencer, some of which are being utilised by brands to showcase the next big thing exposing said brand to the influencers network in anticipation that some of that 'social cred' will turn into commercial opportunities.
TV shopping has been doing a variation of this for years, brands take a product, get a slot, test the sales response and if the numbers look good - bingo happy days all around.
Thing is with TV shopping, whilst it has a huge following on/offline it's still perceived by many as a somewhat outdated concept - when was the last time you tuned into a TV shopping channel unless by accident in your hotel room?.
There are literally hundreds of thousands of micro non paid influencers on all manner of social platforms today, many of those people are building out successful micro lifestyle businesses - is this an opportunity?.
The recent surge in popularity on social platforms is well documented, today we also have TikTok which is being used by Gen Z and the like, it seems we crave authenticity over the polished corporate message when it's delivered from someone we can relate to, and both parties have taken the time to build up trust with.
There are a lot of similarities to celebrity endorsements and to word-of-mouth marketing. Just like with those strategies, influencer marketing aims to make a brand more relatable and trustworthy in the market, especially with younger demographics. In fact, studies show that 70% of millennial consumers are influenced by the recommendations of their peers in buying decisions.
The social networks themselves are keen on influencer marketing, too. Just recently, we’ve seen Instagram, for instance, launch features around branded content and ads — features that make it easier for Creators and brands to work together. source 'Buffer.com'
We all know that the traditional advertising model that was thought up for the internet isn't working anymore. People in their millions around the world are skipping your ads, they're also blocking them, and with the draconian impact of GDPR diluting the digital marketing landscape what can companies do to remain front of mind.
The celebrity influencer sector is huge, and as celebrity has always been used to 'endorse' your brand in those intrusive and spammy ads companies are now jumping on the 'celebrity' influencer band wagon, but is the consumer growing more cynical of this approach as well?.
The latest data shows that micro-influencers, influencers with 10,000 or fewer followers, are getting the best results for brands and businesses. More engagement, more clicks, and lower ROI.
There is one major sector that in my humble opinion are set up to really exploit this opportunity, this is the TV shopping sector which includes the mighty QVC, HSN, and over in the UK Ideal Shopping TV, and many more.
They already have the know how to leverage technical, resource, and back office logistics.
The global opportunity for them to attract the non celebrity influencers to leverage the value of those assets, IP, and commercial opportunities must be immense.
Food for thought, or business as usual in TV Shopping land?
According to Edelman, the power of influencer marketing isn’t just about engagement. Influencer marketing is how people find products and buy products — 58 percent of people have actually purchased a product because of an influencer recommendation, in just the past six months.