Whenever a trend gains momentum (and headlines all over), the general public seems to quite naturally divide itself into two factions.
As influencer marketing is one of the buzzwords at the moment, it’s unsurprising the media is simultaneously praising its rise, and predicting its fall.
Some of the controversy includes the following: “If an influencer is shown to just be promoting some brand, their audience will rapidly lose trust in the influencer — undermining all their value.” (CMSWire)
There will always be doubts and concerns.
Remember content marketing, email marketing and Facebook marketing? These guys are still rocking the front-line, despite the media click-bait articles that pop up every now and again.
Below there are a few ways the market is considerably changing.
Agencies are jumping on the influencer ship
Targeted Social, a pioneer of Facebook and Social Media marketing, announced the launch of its new Influencer Marketing services to directly connect brand’s influencers and ambassadors with audiences.
Where Target Social will differ is the ROI of the campaigns, a big issue in the industry nowadays. Welcome PBIM (Performance-Based Influencer Marketing): performance-based metrics tied directly to successful sales efforts.
“Just like with the early days of Facebook advertising, Influencer Marketing is something every brand knows they want, but most still struggle to make a direct connection between their influencers and actual results at the register. With this new service, we can take the Influencer Marketing industry to the next level, by empowering brands to work more closely with Influencers, enabling them the flexibility to draw from the entire website and receive direct attribution for the sales they influenced,” (MartechSeries)
What does this mean for brands?
Most Influencer Marketing programs are built based on reach or engagement metrics with a media value used for ROI calculations, however, it’s harder and harder to quantify the actual impact of that. It’s time to re-think the way we calculate results.
The influencer marketing marketplace is growing
Influencer marketing sounds like an all-encompassing solution, but truth is, there are a few ways to work with influencers.
If you are working on less than 3 campaigns per month, or are completely new to it, then an influencer marketplace may be the best solution to get you started.
These can be a simple matchmaker solution with specific features (they mainly focus on showcasing the influencer and presenting its niche, engagement or general stats).
If your brand is ready to scale your influencer marketing program and/or you are creating a very involved program with different campaigns and rewards, an influencer platform may be your best bet. These tools help brands by providing management workflow tools, analytics reporting as well as, in some cases, influencer management and engagement.
Last but not least, you can run your very own ambassador program with the old-school spreadsheet database. Despite being much more time-consuming, it can be the best solution for combining ad-hoc campaigns and recurring perks and interactions.
Apps are looking to new ways of monetising
Let’s face it, the one post solution is fading. Influencer marketing platforms are struggling to work on a pay-per-post as it seems counterproductive for both brands and influencers.
Apps like IntoApp have worked on a reward-based experience platform. Platform IndaHash created bitcoin-like private currency tackling a few issues including slow payments, multiple banking systems as well as promoting follower engagement.
The actual implementation is still in the works, but we have a clearer idea of the outcome:
“Chief Product Officer Wlas Chorowiec told me that, as part of this new “Pay with Fame” service, his company is setting up a network of e-commerce websites that will accept the indaHash Coins as a direct payment. Or influencers will be able to use a debit card at online and physical stores that take debit cards, except the withdrawals will be from accounts holding indaHash Coins.”
2018 is bound to be an exciting year for influencers and brands alike.
Truth is, influencer marketing is evolving, and more and more agencies and services are peaking out, teaching us how the influencers are working on creating and promoting content. By being ahead of the game you can ensure you’ll make the most of this in the upcoming year.
We always make sure our influencers (who are part of our VIP crew) are up to speed with the latest news, platforms, as well as guide them to the best solutions. We also support brands by providing latest industry news of in our influencer online course.