According to YouTube’s official blog, the company is expected to rely extensively on its Shopping segment, with the creator economy projected to boom over the next decade.
YouTube is the most common touchpoint between content creators, viewers and brands as it provides an easy and democratic way to do brand collaborations. Because creators’ personality is showcased through their videos, there is also a loyalty with their audience YouTubers achieve through video content.
The loyalty that creators achieve is one of the most powerful emotional aspects that contribute to user purchasing behaviour. This loyalty and ability to influence a section of audience forms the crux for influencer marketing. According to a study by Youtube, Publicis and TalkShoppe, 89% of viewers agree that YouTube creators and influencers give recommendations they can trust. Influencer marketing has changed the face of marketing. Brands at all scales now look at everyone from micro-nano influencers to the biggest creators for their marketing. Studies show today that influencer marketing is the one of the most preferred channels for marketing.
As of now, one may see YouTubers speaking about some promotional content during the runtime of their video. Some even indulge in affiliate marketing offering custom coupon codes with discounts for their viewers. However, going ahead, YouTube aims to make this purchase activity more seamless, and hence the focus on Shopping.
As of this week, YouTube is partnering with Shopify, which gives YouTubers access to live shopping tools. This will help them incorporate brand promotions and sponsored content into their videos in a much easier fashion. This was confirmed by Chief Business Officer Robert Kyncl on the YouTube Official blog.
All YouTubers who are part of the YPP (YouTube Partner Program) can use these live shopping tools as long as their store is on YouTube’s list of approved merchant platforms. YouTube has so far been one of the biggest contributors amongst companies who are enabling the flourishing creator economy.
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How Influencer Marketing Changed The Face Of Marketing