Although people have tried, TikTok is not going anywhere. It's actually the contrary. And in the land of DupeTok and Fast-Fashion-Tok, luxury brands may have finally found their place.
TikTok is essential for luxury brands to reach Gen Z, with almost half of its users being between the ages of 16 and 24.[1] Why does it matter for luxury brands to reach teenagers and new college graduates? Because one day, these teens will grow up and want to buy from luxury brands, it's best to get their attention now and grow that desire.
While brands like Gucci and Dior have been producing short-term videos since 2020, they have not found success until recently.[2] This year, Luxury brands enhanced their media impact value (MIV), an engagement tracker, by 11 percent compared to fast fashion's 7 percent, according to Launchmetrics.[3] In fact, Dior, Gucci, and Prada have accumulated more MIV engagement in the first five months of 2023 than in all of 2022. Louis Vuitton has also surpassed its 2022 engagement.[2]
But how did luxury brands shift from debating whether or not to join TikTok to now wondering what to owe its success?[2]
The answer is simple: influencers. Influencers' content makes up nearly 70 percent of MIV for top brands.[2]
As a PR professional, I see how influencers are the obvious answer. However, there is more to a TikTok strategy than just influencers. MIV on owned media has grown 4.5 percent year over year, while influencer content engagement has dropped 8 percent.[2] This is because influencers can expand brand awareness and grow relevance. Still, nothing can better display the brand's brand than through its owned media.
Owned media is any content that belongs to a brand, like its website, social media platforms, and newsletter. Influencers often fall under paid media; paid media is anything a company pays for, like a commercial, print ads, or promoted posts.
Sarah Keeble, the luxury marketing director at Verb Brand, explains that the rise of popularity for owned media, on the brands' side, is because it's easier and cheaper to make and promote. For example, when an event or photoshoot is already happening for a brand (take Pharrell Williams' debut at Louis Vuitton), a brand can send in their social media manager to take videos and edit them together for a short clip on TikTok. Giving the viewer the BTS look they crave and giving the brand a cheap and easy way to promote the fashion show and new line.[2]
Although some luxury brands have found success by just having a TikTok account: Chanel. Chanel is the ninth-most discussed brand on TikTok but has never posted on its account.[2]
As a member of Gen Z and a PR professional, I have an exciting point of view to see both the consumers' and the brands' side during this TikTok revolution. Personally, I agree with owned media replacing influencer content. Don't get me wrong, I love influencers and follow many. However, when I see a paid media post disguised as an earned media post, I am immediately turned off. The narrative changed from a "social media big sister" sharing her favorite products to someone on the internet selling something. Again, that is how it feels as a consumer. But as a PR professional, I know that is vital for both the brand and the influencers' livelihood and business.
I would love to see more BTS/owned media from luxury brands because it maintains the brand's elusive, desirable, and aspirational aspect while letting the consumers feel like they are on the inside.
Comments