Your Weekly Influencer Marketing Update đ
27.09.2021
âď¸ Welcome to your weekly #influencermarketingupdate âď¸
đ // (OPINION): INFLUENCER MARKETING IS NO SILVER BULLET FOR SMALL BUSINESS
Whatâs it about?
London-based co-founder of footwear brand Sante + Wade weighs in on the pros and cons of influencer marketing.
Headline Quote
âmany people will tell you to âfind an influencerâ. This is usually delivered in assured tones as the only decision you need make in order to sell your wares and guarantee success.â
Our Take
Letâs start with the thought that without an actual, thought-through influencer marketing strategy, it is extremely likely that simply âfinding an influencerâ to promote your goods/services will not be quite as authentic as you may want it to be, and people might end up disgruntled over the lack of any (tangible) results and it may even affect the way your business views influencers going forward.
The easiest - and most straightforward question would be: what are you trying to achieve? Working with micro-influencers that have high engagement rates when realistically all youâre after is high absolute numbers will set you up for failure.
Weâve written many articles ont his topic in the last 8 years - but there is one sentence in this article that carries a sentiment I still come across often - and very much disagree with.
âThey [bigger brands] can offer more attractive packages to influencers that smaller brands just canât afford,â she adds. â.â.â. Itâs a numbers game, and so youâre up against it from the start.â
The clear route to market for (especially) small business, is identifying those that already love / purchase your brand, and incentivising them to become influencers for your brand.
When constructing packages to put forward to influencers - smaller brands donât have to be up against it from the start per se. Elevating packages from pay to play and including money-cant-buy experiences, having a say in the creative direction of your brand, or simply making them feel special may go further than you think.
Treating influencers as mercenaries for hire sets a precedent - and that approach has a tendency to create friction from the get-go in an industry where the most arenât entirely certain how to measure the impact and value of influencers can bring to their business to begin with.
đ¤ PAY US A FAIR SHARE FOR ALL THE âLIKESâ WE EARN, DEMAND INFLUENCERS
Whatâs it about?
A former model has launched a website to help online creatives compare deals with brands to prevent exploitation
Headline Quote
âPeople trust us and you canât commoditise trust,â says Lugrin, while acknowledging that âits difficult to put a price on someone when you donât come from traditional mediaâ.
Our Take
Just to put this out there - and to tackle the problematic title this article has opted to run with; Iâm convinced that a performance based model (actually paying for likes delivered) will not work for 80% of the industry, and could diminish the true value of creators, as well as the wider influencer economy.
However, the article does rightly notes that there is a widening gap between influencer and brandsâ payment expectations
There are a variety of reasons why this has come to be, and one of them is an âus versus themâ narrative that has long been cultivated. Brands have money, they should pay us. Brands on the other end want to see results, and are still often not quite sure how to measure the impact of influencers; so can be hesitant to spend money on influencers that arenât A-list.
We all have a role to play in narrowing this gap and no singular party is to blame for this discrepancy. The easiest way to get to a (potential) solution is finding a way to transparently share data and objectives between influencers <> brands. This way both parties can align both on what is expected, as well as what can be expected. Too often this process is too vague, and many businesses still rely on macro-level, third party industry benchmark data that tells a story that often misses context and relevancy to specific brands within an industry.
There is a huge gap when it comes to post-influencer workflows; there is a desire for education. There is a huge opportunity to come in with the stats, the data, the insights - showing that the creator has over-delivered and deserves to be paid much for all the hard work and creative effort theyâve put in.
If we truly want to solve this problem, we need to work together.
đ  This weekâs must-reads
// Report Reveals Future of Influencer Marketing is Brand Advocacy
The research for the report was carried out in partnership with Dectech, which analysed the social media habits of 1000 consumers. The findings presented that brand advocacy is now leading the way as the most cost-effective and authentic way to build brand value within a social media generation that craves community over clout â particularly amongst Gen Z.Â
// Case Study: Using Influencers To Build Rapid Awareness
Markerly, a pioneer in influencer marketing, conducted a search to identify the most influencial âcatâ voices on Instagram and TikTok. The campaign included product placements and new takes on the MeowMix jingle and achieved significant, rapid results. Below, Justin Kline, CEO and Founding Director of Markerly, provides insight on the campaign.
// Disney looks to develop rising TikTok & Instagram creators
New influencer program will teach fans of the brand how to grow into social media stars
// Twitterâs new product road map emphasizes creator-friendliness and user experience
Tips: Users can send and receive one-time payments via third-party services such as Venmo, Patreon, and GoFundMe. This was rolled out Thursday globally on iOS, with Android coming in the near future. Twitter is adding multiple payment services to Tips, including Strike, which allows Bitcoin payments.
// TikTok fitness: why TikTokâs become the platform for Gen Z strength goals
A new generation of fitness influencers are taking over the weights room, 60 seconds at a time. Writer RĂłisĂn Lanigan investigates the Gen Z rise of TikTok-based lifting.