Why influencer marketing will persist no matter what comes next

Why influencer marketing will persist no matter what comes next

Influencer marketing has been under constant attack for the last two years and now the Facebook/Instagram Industrial Complex seems bent on taking away "likes" -- the lifeblood of influencer engagement success.

My smart friend Christopher S. Penn had an interesting insight on this in a new free research paper, claiming there are economic, not altruistic, reasons for the change:

Influencer marketing has become a multi-billion dollar industry. Which is why, to no one’s surprise, major social networking companies are looking at ways to take back some of that money, from punitive algorithm changes to outright removing key influencer metrics (like hiding Likes or YouTube subscriber numbers).

From companies like Facebook’s perspective, every dollar that goes to an influencer is a dollar that they didn’t get for advertising. And you can believe that Zuckerberg and company won’t stand for that very long. They’ll make a vacuous claim (“mental health improvements” in regard to hiding likes) while they change the game for influencers in the same style of bait and switch that they pulled on brands. And that’s entirely fair; something-for-nothing was never a sustainable strategy for anyone. Combine this with increasing regulatory interest, and the clock is ticking for influencer marketing as we know it, before social networks pull the rug out from under everyone’s feet.

That begs the question: in this new landscape, who will be influential?

Influencer marketing today is not what you think it is

I partially disagree with Christopher because his premise is hung on "influencer marketing as we know it."

What exactly is that? What IS influencer marketing "as we know it?" I would have to rely on Christopher for his interpretation, but I'm guessing most people think of influencer marketing as paid sponsorships that fuel product-infused posts on Instagram and other social media platforms.

I'll argue today that this is NOT influencer marketing any more. In fact, for many brand the strategies are evolving to a new direction -- unpaid "micro-influencers" (people with under 1,000 followers). And this is why the future of influencer marketing is bright ... and really just starting.

The micro-influencer trend

It's hard to get reliable data on the breakdown of such a fast-changing field like influencer marketing, but let me point out a couple of things I DO know.

  • Pierre-Loic Assayag, co-founder and CEO of the influencer platform Traackr, told me that 98 percent of the online content mentioning brands is from non-paid micro-influencers.
  • One global agency executive told me that it makes economic sense to work with 100 people who have 10,000 followers than one guru-diva with a million followers. The average Instagram engagement for a paid influencer is between 3 percent and 4 percent, while micro-influencers are averaging 14 percent for a lot less investment.
  • Several large brands are moving their marketing budgets to micro-influencers.

Again, this is not a take-it-to-the-bank research study, but I think these are meaningful observations and they also just make sense.

This is why I think that the long-term trend toward influencer marketing will continue forward with fury, but maybe on a different path than we think.

Follow the influencer marketing money

Here's a mega-trend that isn't going away soon -- brands are running out of places to spend their ad budgets. This is going to be thrown into further turmoil as Google, Facebook, and Amazon face anti-trust pressure from the US government.

Influencer marketing still has vast untapped potential. There are countless case studies showing how it can produce impressive financial results. But the field is just a teenager going through growing pains. It's not yet time to call it "dead."

Christopher Penn is correct in saying that measurement may get more difficult if Facebook takes away the "Like," but I presume users will still have some sort of dashboard to report on engagement. The measurement will eventually catch up, but influencer marketing will persist in new and more creative forms. Just watch.


I appreciate you and the time you took out of your day to read this! You can find more articles like this from me on the top-rated {grow} blog and while you’re there, take a look at my Marketing Companion podcast and my keynote speaking page. For news and insights find me on Twitter at @markwschaeferand to see what I do when I’m not working, follow me on Instagram.

Illustration courtesy Unsplash.com

Alexander Eick

Software Engineer @ Stay Bizze

5 年

To me it’s always been obvious that Zucks would come after the dollars influencers are making without cutting him in on the deal. I do agree that influencers aren’t going anywhere. “Influencers” are a savy group of people. They will always innovate no matter what any platform throws at them. I’ll continue betting on them. ????

回复
Jenny Melrose

Business Coach and Strategist for Female Entrepreneurs Wanting an Online Presence/Speaker/Author of Influencer Entrepreneurs

5 年

In your article it sounds as if you are defining microinfluencers as one’s who have less than 1000 followers across social media and the large influencers as the ones that have over 100k or even closer to a million. There is an entire group of influencers in between that range though that know their audiences and their metrics. They can tell you who is coming to them and for what. They can also articulate to the brands wanting to work with them what products their audience is interested in. These influencers are not relying on traditional posting to their Instagram feed. Instead they are using all of the features of their Instagram stories and truly having conversations with their audience about the products that they know, use and love. Influencer marketing is not as black and white as it was made. It’s not those simply getting free product (which in the eyes of the FTC should still be getting disclosed) or those getting paid large contacts for touting a product that they’ve never even heard of before because they have a huge following. There is entire population of influencers that authentically and ethically work with brands that they love. I believe we will see more long term partnerships with these influencers.

Michael (Mike) Morris

Pragmatic, Results-Oriented Marketing and Marketing Insights Leader: Brand Positioning | Digital & Social Media Marketing | Sponsorships | Market Research

5 年

Mark - thought I would introduce you to Danielle Wiley, who runs Sway, an agency focusing on influencers. I have worked with Danielle many times over the years and she is incredibly bright.

Jeannette Marshall

Sales executive * Creative Content * Publisher * Art’ish #CalgaryBlogger * Social Media Guide

5 年

I appreciate this post.? Influence and influencers are bandied about as though what they recommend is potent, however, what it really means is some are compensated in product or service in exchange for promoting or sharing the brands' content. It is confusing, without a doubt. Some tag themselves as an "Influencer" without transparency on what it means. I like the fact that Mark highlights the fact that quantity does not mean quality. Realistically, those with high audience numbers don't have the time to monitor their networks and oftentimes have someone else manning their feed. I do believe that the practice of giving free stuff like books, perfume, cars for people to try and then review is a different animal.? That has been part of the advertising climate for years.? The principle founded on:? if you try it, you like it, you'll likely share it.?? Professional reviewers tend to write about what they get involved in.? It is wrapped around audience.?? What it all amounts to:? if I say something is great, because I've established a credibility from transparency, it is likely great because audiences trust my opinion.?? It is all numbers driven.?? How likely are others to try something that I rave about? Alternatively, because I share specific reviews because I've been compensated or given free product or service is a different concept. As a Publisher of Magazines, I was sent a free book directly from an author, the understanding or expectation was that I'd read it and include a review in the publication. Back in the 1980s I worked for lifestyle magazines in sales.? The editorial team would often get freebies so they would try it and write about it.? The goodies were dispersed to anyone on the team, not just the editorial staff. Events invitations, similarly, are dolled out so that editorial team would attend, take pictures hobnobbing with celebrities or officials, and publish it. Influence comes down to numbers.? Not just how large an audience is, but more so on the likelihood that others will click on what is posted. Carrots are out there as magnetic morsels that attract clicks.? Clicks are results.? Clicks communicate the attraction by others to go off the original platform onto a new page from the brand, expelling offers to try, review, share or buy. At the end of the day, I'm thankful the conversation has started to draw better awareness.? It may reduce the amount of false claims or leading others astray.

Terry Johnson

Marketing Strategist - solving marketing problems by providing expert marketing strategies designed for small business growth

5 年

Thank you for your insights into the future of influencer marketing. I agree with your point about the growth of micro-influencers, especially those who have a loyal community. We’re moving into “small is the new big” territory with marketing strategy.

要查看或添加评论,请登录

社区洞察

其他会员也浏览了