By: Ryan Laffler, Account Manager
Vine has had a rough year. The popular social media app that allows users to string together a series of videos up to six seconds long in all is quickly losing market share in the digital advertising industry. Competitors like Facebook, YouTube, Instagram, and Snapchat are all moving to capitalize on the burgeoning video advertising market, and Vine is struggling to keep up.
Markerly, an influencer marketing technology company, recently analyzed 9,725 Vine users with more than 15,000 followers and found that 52% of them have existed the platform since January 1st. Talk about having the rug pulled out from under you. Reasons for this vary, but for the most part, influencers are leaving Vine for more feature-heavy platforms like Snapchat and YouTube.
How do brands advertise on Vine anyways? First, they identify find an influencer with a large number of followers and then tell them that they will pay them to promote their brand. Sounds simple enough, right? Not quite. This method requires much more attention and labor-hours than, say, setting a budget and target audience on Facebook’s advertising platform and letting it do the work for you.
That is not to say that Vine isn’t worth advertising dollars – it just depends on the specifics of the marketing campaign and the target audience you’re trying to reach. For example, say you’re the Director of Marketing for Ray-Ban, and you notice that one of Vine’s top influencers wears sunglasses in all of his or her videos. You reach out to the owner of the Vine account and tell them that you will pay them an annual fee to wear Ray Bans in every Vine video they make. This form of product placement could be an effective and relatively inexpensive way to connect with millions of followers on the Vine user’s account.
Even though Vine appears to be the decline, always be on the lookout for new, unique ways to leverage a social media platform to your brands’ benefit. In fact, The Goss Agency specializes in just that! Our marketing and advertising experts have the skills and industry insights to take your brand to the next level.
To find out more, give us a call at (828)259-9910 or email Dari Mullins at email@example.com.