February Roundup

This month, we're looking at the influencer marketing space, highlighting search term trends, and reminding our readers of the importance of strategic thinking. In addition, catch up with the latest news from The Red Tree team and updates from our brands. 

A look at influencer marketing

1. DOMINANCE OF SOCIAL MEDIA USAGE

In 2022, 61.7 million people in the United Kingdom were users of social media (Statista, 2022). With this kind of influence offering an unparalleled opportunity for brand awareness, marketing strategies are often developed with digital media at front of mind. 

2. THE SOCIAL PROOF PHENOMENON

In the context of marketing, social proof suggests that people find validation in the opinions and actions of others. Reviews, recommendations, or simply a buzz around a product can often act as enough 'proof' for consumers to make a purchase.

3. THE POWER OF CULTIVATING A COMMUNITY

Influencers can provide brands with access to a community of people. An influencer's understanding and relationship with their community facilitates effective communication that is hard for brands to replicate, and the high levels of trust and credibility provide opportunity to convert the community into customers.

4. ORGANIC INFLUENCER MARKETING

Brands should favour an organic approach to influencer marketing. While this is of course beneficial from a financial standpoint, consumers also tend to be more trusting of organic relationships where there is an obvious alignment between the brand and the creator.

Key considerations for 2023

ECONOMIC CHALLENGES

• Brands need to focus on optimising marketing budgets while we face unfavourable economic times. 
• This requires an agile outlook to marketing efforts where priority is given to activities generating the highest ROI and any dated activities are weaned out.
• It can be tempting to mirror the strategy of viral products and brands, but sustainable long term growth comes from having a consistent strategy.
• Whether your priority is customer retention or cultivating new leads, brands should ensure their marketing strategy is specific to their positioning, purpose and target consumers. 

In these challenging commercial times, it is also important to look at your products and costs, making adjustments where necessary. 

How to reduce your product costs and increase profitability →

Spotlight search trends 

News & Further Reading

Strategic thinking underpins everything we do at The Red Tree, and it is fundamental for both new and established brands. Ensuring your business goals are clearly defined, aligned and measured will help you achieve your objectives.

Read our take on strategic thinking →

Join us at Harrods this Thursday 2nd March for a conversation with Tina Chen Craig, founder of U Beauty, to hear about the years-long development of their newest launch.

Secure your place here →

Discover an eye care innovation, a supercharged cleanser and a forward-thinking packaging solution made from sugar cane waste in this month's brand news.

Read The Red Tree's latest news →

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