With Millennial buying power expected to exceed $3.39 trillion in 2018, Millennials will soon have the most spending power of any generation. In order for marketers to harvest this generation’s power, brands need to meet them where they already are – online. Not only do 85% own smartphones, but 64% believe social media is one of the most effective channels for reaching brands.
In order to appeal to the Millennial market, many brands have adopted an Influencer Marketing & Relations strategy as an always-on solution in delivering relevant, personalized, and channel-specific content – and it’s working. 86% of Millennials say that influencer-generated content is a positive indicator of brand quality.
This trend continues to be exemplified in the sparkling water industry where increased transparency around nutrition, distinct product packaging, and convenience & portability have contributed to a multibillion dollar industry. With the sparkling water industry continuing to grow at a CAGR of 3%, leading brands are looking to target Millennials.
In this report, we look at share of influencer-generated content (IGC) across brands with the greatest market share in the sparkling water industry. We analyzed which brands had the greatest influencer SOV in the last year and what you can learn from the IGC leaders.
Here’s an insider look at some of the most noteworthy trends and influencer marketing stats we learned from the brands leading share of influencer voice in the sparkling water industry:
- For most industry leaders, volume of influencer-generated content is positively correlated with market share (i.e. more IGC = more market share).
- Sparkling Ice, the category leader in volume and sales, owns 61% share of voice and 28% in market share.
- S. Pellegrino owns 18% share of voice (2nd in IGC volume) and only 10% in market share (5th in sales). This discrepancy is likely due to S. Pellegrino’s focus on one niche market instead of marketing to a more diverse audience like other leading brands.
- LaCroix (2nd in market share, 3rd in share of voice) has fostered a community around the beverage, ensuring a steady stream of content creation. It is likely that this strategic initiative has contributed to their net profit rising from $49.3 million in 2015 to $107 million in 2017.
- IGC category leaders earned 4.2x more engagement per post when compared to the category average.
- IGC category leaders position the product with clear and distinct product packaging, reinforcing the portability, ease, and convenience of the product.
Want to learn more key insights? Download the report below to learn which sparkling water brands had the greatest influencer SOV in the last year, as well as examples and best practices from sparkling water brand category leaders.DOWNLOAD