It is unfortunate that one of the most successful
marketing campaigns – the Fyre festival – ended up a disaster. I summarize some
take-aways I had based on the class discussion and further reading:
·
What Fyre marketing sold was not a product
or a service – it was a feeling. It successfully created an aura and mystery. I
realize how helpful it can be to zoom out and take a holistic view while
designing a campaign. Consumers will buy a product if you can convince them it
will make them feel how they want to feel.
·
The Fyre festival successfully built hype,
which can be very critical in creating engagement. Instagram influencers shared
posts of orange squares that spread like “wildfyre,” creating hype and
ultimately selling out the event.
·
To initially create buzz, the marketers
chose Instagram. Given the demographic that they wanted to reach, that of urban
wealthy millennials, this was a well-chosen social platform.
·
When it comes to finding influencer
partners, Fyre was equally aligned. Brands should only work with influencers
who are a natural fit, have an engaged following, and a trusting audience.
Beyond that, the influencers’ followers should align with the brand’s target
market.
·
The Fyre Festival influencer marketing
also showcased the strength of a well-orchestrated influencer marketing
strategy. The influencer campaign itself was staggered. A few influencers
created the initial buzz, but the influencer campaign continued, eventually
involving more than 400 influencers.
·
Fyre Festival influencers demonstrated
just how much their opinion matters to their vast Instagram audience. It
clearly signaled the power of influencers.
· Influencers need to be mindful on the impact that they can have. The bulk of the influencers with respect to Fyre violated FTC guidelines by not acknowledging the money they were paid in exchange for their endorsement. They also gave their audience a false impression by buying into an event without any proof of an end product.
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