Revolve, a pioneer of influencer marketing, is shifting away from its established strategies. In the past, the company had a substantial presence at festivals like Coachella, but this year saw a smaller crowd, from 5000 at its peak to a mere 1200. In line with this, the company’s marketing budget was decreased by $10 million in 2023, and the number of luxurious influencer trips dramatically reduced.
The changes reflect the fading hype around Coachella – a cultural event that was a dream for the influencer-based marketing strategies Revolve previously promoted. The company is now exploring new means of leverage in the world of social media to breathe life back into its sales.
In recent years, a general fatigue has been setting in regarding influencer trips and high-profile events. This trend, alongside the decrease in earned media value – a metric assessing online attention – is pushing Revolve to expand its focus. The company is now targeting everyday clothing, office wear, and beauty products, and presenting a more toned down approach in its marketing.
Similar trips for influencers to the Super Bowl and a pop-up store in Aspen occurred this year, but Revolve’s signature revolvearoundtheworld global brand trips have been shelved. The restructuring of Revolve’s marketing approach may signal a significant shift in the use of influencer marketing moving forward industry-wide.
Founded in 2003, Revolve’s success is tied to its early adoption of influencer marketing in the 2010s. The company has a history of organizing aspirational trips to luxurious locations like Dubai and Turks & Caicos for influencers. Over the years, the company attained great heights including its public listing in 2019, boasting a valuation of $1.2 billion.
However, the company is confronting changes in the influencer space. While attendees seem satisfied with the more select guest list and streamlined event logistics, others have questioned the effectiveness and relevance of such strategies. The traditional influencer trip model that once raked in significant gains is now viewed as dated. Revolve’s new direction appears to reflect this with a shift towards fewer bikinis and more blazers.
Source: Revolve Invented Influencer Marketing as We Know It. Now It’s Pulling Back..
