Tom Maynard, co-founder of Amplify, looks ahead to the state of the market for the rest of the year.
Brands will continue to shift their advertising budgets to where the eyeballs are -- social and creators.
With the rise of platforms like TikTok, Instagram, and YouTube, brands are recognising the immense power of creators in shaping consumer perceptions and driving engagement. By leveraging the influence and reach of these creators, they can authentically connect with their audience in a more meaningful way, building loyalty and trust.
Brands are increasingly demanding direct conversions from their investments in social and creators. They're no longer satisfied with merely boosting brand awareness, they want to see tangible results in the form of sales and customer acquisition.
This shift towards performance-based metrics is driving brands to invest more heavily in strategies that deliver measurable ROI.
Like every other industry, AI is going to have a significant impact here. We’re seeing both TikTok and Meta make plays to give brands the ability to create content at scale, allowing them to A/B test very quickly.
I believe AI will allow human creators to scale their personality and build community, but it’s still too early to tell whether AI avatars will become mainstream influencers, or if it is a passing fad people will reject.
All roads will still lead to shortform video. TikTok, Reels and YouTube Shorts are eating into media in general and vying for attention against your nightly Netflix watch, commute and dinner table conversation. However the average time a user spends daily on TikTok is more than the others, which goes to show how good the algorithm is and how it’s the launchpad for internet culture and trends in general.
Brands are facing a unique set of challenges. With consumers craving authenticity and transparency, brands must find ways to cut through the noise and connect with their audience on a deeper level. This requires them to be genuine, relatable, and empathetic in their messaging.
Looking ahead, we may soon witness the launch of TikTok Shop here in Australia—a move that could revolutionise commerce and content. Integrating e-commerce functionality into the TikTok platform, brands will have a huge opportunity to engage with consumers in the moments that matter most, driving conversions and fostering brand loyalty.
Within the next six to 12 months we anticipate a surge in brands investing in content and creator strategies to forge deeper connections with consumers.
By partnering with creators who align with their brand values and audience demographics, brands can tap into the power of authentic storytelling to drive meaningful engagement and brand advocacy.
Getting started is always the hard part for businesses. Using employees as the face of your brand is increasingly the best way to show what your brand stands for (segue, check out our co-workers episodes) afterall your staff know your brand ethos better than anyone.
As brands continue to prioritise authenticity and community-building, we'll see the lines between advertising and entertainment blur, ushering in a new era of brand-consumer relationships.
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