Brands have built multifaceted creator programs average 3.8 different goals for their partners. Brands report the top four most important goals for creators are generating content, driving loyalty, creating awareness and driving sales.
Leveraging creators in retail media networks
Retail media networks (RMN) are still expected to grow but a little slower than anticipated, in part because the digital aspect of retail media was so quickly adopted. More than 80% of brands have fully or nearly completely integrated retail media networks with their other digital channels and practices.
However, retail media is not meeting the expectations of brands in large part because of reporting. Most say they measure performance based on ROAS because that’s all they can access, but brands actually listed ROAS lowest among all measurements. Brands want to grow their audiences and loyalty and look at longer-term, big-picture performance metrics. This is where creators can help given their full-funnel impact.
How to win with creators in 2024
Creator content is more essential than ever in the marketing mix. An impressive 98% of brands are using creator content for channels beyond just social media, highlighting its versatility and reach. Creator investment is also growing at an astonishing rate, outpacing other digital channels. Brands with winning creator strategies are investing in creators to maximize their impact across various channels and are focusing on achieving full-funnel impact by driving three key metrics: audience growth, awareness and increased sales.
As we move into 2024, creator marketing is fundamental shifting how brands engage with consumers. The world of marketing is evolving, and those who embrace the rise of creators will find themselves at the forefront of this transformative wave. The time to invest in creators and their unique ability to influence, engage and build trust with consumers is now.
The reported data is from a brand survey conducted by LTK in collaboration with Northwestern University’s Retail Analytics Council in August 2023 among 164 marketing decision-makers that have invested in creator marketing in the last 12 months. More than half of the global brands were valued at more than $1 billion and included top retail, fashion, beauty and health, CPG, tech, entertainment, auto, travel and service industries. The full study is available for download here.
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