GRIN’s Director of Product Marketing Shares 3 Hacks for Navigating Today’s Economic Turmoil
NEW YORK — Retailers from around the country converged at 360 Madison Avenue on May 16, 2022, for the Glossy E-Commerce Forum.
With speakers from major beauty retailers, advanced tech platforms, and innovative designers, attendees gained insights into the ever-evolving ecommerce landscape. Among the presenters was Mike Wright, director of Product Marketing at GRIN.
Wright discussed how the pandemic, global events, supply chain issues, changing ad costs, and shifting consumer behaviors had thrown marketers’ strategies out of whack. He shared that:
- Issues in the supply chain have caused the cost of raw materials to fluctuate, which has led to shrinking margins.
- Volatile ad prices are making customer acquisition costs unpredictable.
He also shared the key to overcoming these challenges: creator relationships.
Navigating Today’s Economic Turmoil
Wright summed up his advice into three hacks for navigating the fast-changing economy with creator relationships.
- Be everywhere without breaking the bank.
- Diversify your creator mix.
- Build trusting relationships.
He also pointed out that while influencer marketing is essential for succeeding in this economy, brands still have to be efficient about their budget. Partnering with the wrong content creators can be costly in terms of your money and your brand’s reputation.
To wrap it up, Wright emphasized the importance of choosing a Creator Management platform that fosters authentic relationships.
Ready to discover how GRIN can help your ecommerce brand weather the storm of the 2022 economy? Schedule a walk-through today.
GRIN is the pioneer behind the world’s first Creator Management platform, designed for the next generation of brands who recognize that, in the creator economy, authenticity is everything.
Our platform supports every brand’s journey to connecting with consumers through authentic creator relationships. Thousands of the world’s fastest-growing brands—including SKIMS, Warby Parker, Allbirds, Mejuri, and MVMT—use GRIN to make creators feel like trusted, empowered partners and work with them to build their brands into household names. Together, we are revolutionizing the creator economy.
Glossy is a multimedia brand delivering fresh insights into the constantly changing beauty, fashion, and wellness industries since 2016. As a part of Digiday Media, Glossy dives into how brands are navigating this ever-evolving environment through in-depth coverage on their blog and podcast, proprietary research, industry events, and more.
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