Your Weekly Influencer Marketing Update 🚀
02.08.2021
☀️ Happy Monday! ☀️
Welcome to your weekly #influencermarketingupdate
💰 With US influencer marketing spending on the rise, retailers keep an eye on social commerce
What’s it about?
Influencer Marketing spend in the US is predicted to grow by 33.6% in 2021 and could hit the $4bn mark in 2022.
Headline Quote
“The friction between seeing a sponsored post by an influencer and buying that product over the past few years has basically moved to zero.”
Counter Quote
“Your reach through a lot of these influencers is small. And it’s a huge amount of work on the marketer side to...reach as many people as you need to”
Our Take
When it comes to influencer marketing, we know that overall, investment into the category in the last 5 years has only gone up. With the rise of e-commerce and the understanding that social platforms will only advance in the upcoming years, there doesn’t seem to be any sign of stopping this. As long as there is a mechanic for people to create a community, it will be monetised.
It’s interesting to read that the analyst in this article says that the the friction between seeing and buying based on a sponsored post has “basically moved to zero” - highlighting that these posts have now become so embedded in our daily lives.
What is true, is that relationship with influencers are incredibly challenging to scale and requires resources at scale to match. Unless the focus is spending to achieve reach - it’s key to invest in proper resourcing to develop a infrastructure and the processes the match, in order to streamline and scale collaborations with a large volume of influencers.
✔️ Influencer marketing gets a Gen-Z upgrade with Emcee launch
What’s it about?
A new influencer affiliate platform called Emcee is launching this week. Aimed at getting buzzy indie brands into the influencer marketing arena.
Headline Quote
The platform is launching with a focus on influencers, and it plans to add a dashboard by the end of 2021 for brands to find and contact influencers directly for campaigns. It will also continue to add features including one-click buy and the opportunity for influencers to create an email newsletter for followers.
Our Take
Utilising the power that influencers have - and their ability to add value as digital retailers has led to the creation of platforms such as LikeToKnowIt and RewardStyle - but reading through the lines, it sounds like this platform is looking to expand quickly. Building out a network of influencers and “selling” them to retailers (influencer ID function) as well as providing tools for influencers to create their communities on the platform (the newsletter function).
It’s a crowded tech space indeed - but everyone is trying to crack Gen Z - and focusing on indie fashion could be an interesting angle.