Thursday, October 20, 2022

Lessons to learn from K-Pop-s dominance during fashion month

 https://www.voguebusiness.com/fashion/from-k-pop-stars-to-viral-moments-who-won-fashion-month-on-social-media

As fashion month across major hubs like London, Paris, New York, and Milan have wrapped - publications have already started to analyze the winners and losers across many different dimensions. From an earned media perspective, Dior seems to have been dubbed the undisputed winner with an estimated $46MM in earned media value and a whopping 45% of that total EMV being credited to its brand ambassador, Jisoo of the K-Pop super-group Blackpink. 

With 65.4MM followers on Instagram, Jisoo is by no means a micro-influencer - but compared to the likes of someone like Kylie Jenner, who has over 350MM and was also in attendance at Paris Fashion Week - Jisoo's ranking as the number 1 influencer of fashion month is worth examining. 

Despite not having the largest following, Jisoo's ability to generate over $20MM in earned media can most likely be credited to the nature of her relationship with Dior (longstanding and consistent) and the incredibly high engagement K-Pop stars like Jisoo inspire from their loyal fans (Jisoo's content recorded engagement rates upwards of 7% vs. Kylie Jenner's average of 1.16%). 

This example presents valuable lessons for other brands who too often treat engagements with creators and ambassadors as short one-off stints and often times put too much emphasis on follower count. Examining the unique success of these kinds of partnerships with K-Pop stars, it's clear that brands need to prioritize creating long-term relationships with unique talents with engaged communities. This reliance on high-engagement talent does not come without its own unique set of risks though, as evidenced by Louis Vuitton's poor media showing this Fall as its own Korean ambassador, Jung Ho-Yeon of the popular Netflix show "Squid Game", was noticeably absent - resulting in a 50% YoY decline in EMV for the mega-brand. 

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