- The Migos has more than 38 million followers across social media platforms
- Influencer market is currently valued at $1.07 billion
Migos inked a creative deal with athletic shoe retailer Finish Line (FINL -0.07%) that places the Grammy nominees at the helm of the company’s marketing direction. Are the purveyors of popular culture betting on the rap trio’s social media influence to bring better bottom line results?
Why This Matters: It’s noteworthy that the Migos are skidding away from the traditional design roles that their predecessors and contemporaries, namely Rihanna with Puma and Kanye with Adidas often take in fashion. The creative direction roles for the group have been in effect since last August. These positions allow the award-winning rappers to refine their directing skills and develop the vision around product shoots and videos.
Whether a tactical move to prevent product flops or criticism, this collaboration comes across as a strong influencer marketing move. In these types of partnerships, individuals don’t always have direct contact with the product development, but intend on wielding their social media influence with the product’s presentation instead. The influencer market is valued at $1.07 billion and is expected to more than double to $2.38 billion in 2019. Influencer marketing firm Mediakix notes video marketing can be twice as effective in driving sales, and those influenced by video, tend to be active shoppers, too.
Situational Awareness: Finish Line reported a year-over-year sales decline in its most recent earnings report, down nearly two percent. Its comparable store sales were also down about four percent. The company may be on to something with this partnership, since the Migos have helped garner millions of views for the brand’s marketing videos.
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