The TL;DR July 16, 2019
This week we’ll talk about the dangers of influencer marketing, Facebook’s new creator incentives, and social platform stats to help you decide where to focus your brand. If you missed last week’s issue you can find it here.
6 Dangers of Influencer Marketing
Often considered one of the most useful marketing tools today, influencer marketing still has a dark side. Here are six things to watch out for. You can read the full article here.
- Instagram Influencer Engagement is Reaching an All-Time Low: Influencer marketing is a crowded field these days, and many users are growing weary of the constant bombardment of brand messages. Social media fame is also fleeting – the biggest influencer today may be obscure tomorrow. It is better, then, to focus energy on micro and nano influencers who have a niche, but passionate, followings that are likely to actually want the products being shared. Look for communities, not follower counts.
- Inauthentic Partnerships and Content: Influencers, especially large ones, constantly push products that their followers may know they aren’t really invested in. Though it is difficult to measure true authenticity, it’s much better to find influencers who already love your products rather than using someone who has little interest in what you offer. In the same vein, give your influencers freedom over how they share your products – you’re hiring them for the community they built, not one that you did.
- FTC Regulations: The FTC has been cracking down on transparency in influencer marketing in recent years, for this reason, you should ensure that your campaign follows all regulations.
- Morality Conflicts: Back when Logan Paul filmed his infamous suicide forest video, brands scrambled to get out of contracts with him. This story keeps happening over and over again with various influencers across a variety of verticals. Make sure that your contracts allow you to cut ties with an influencer if they do something that goes against your brand values. You should also be careful of who you work within the first place – assess the risk versus the reward to find the right fit for your brand.
- Follower Farms: On more than one occasion it has been found out that many of the followers of a particular influencer were fake. Before you work with someone, check their follower to engagement ratio to see the likelihood of followers being fake. You can also use tools like HypeAuditor or IG Audit to scan followers for bots.
- Ethical Implications: Influencer marketing is a new field, so there’s a lot of trial and error yet to be done. Be careful not to treat your influencers as commodities. You should also be mindful of how impressionable their audiences are and what you’re trying to get them to sell. Influencers may have chosen this career path, but we do need to be mindful of the hard work they put into it.
Facebook Add Monetization Options to Draw Creators
Facebook is no stranger to copying competitor behavior, and their latest monetization updates are no exceptions. Get the details below and read the full story here.
- At Facebook’s Creator Day, the company announced a few new models for monetization for creators.
- The Stars System:
- Likely to function like Twitch’s Bit Emotes, Stars will give users the option to tip creators during streams.
- It’s a simple update, but will likely cut into Twitch’s dominance.
- Fan Subscriptions:
- Similar to Patreon, Facebook is working on a subscription model that follows a tier system.
- Unlike Patreon, Facebook may take up to 30% of revenue for new desktop subscribers and 15% for new mobile ones.
- This is a huge increase over Patreon’s 12% cut and may turn off creators.
- Subscription-Only Groups:
- To encourage subscriptions, Facebook will add more intimate, subscription-only groups that allow users to communicate with creators more easily.
- These moves are likely an attempt by Facebook to diversify away from an advertising-supported revenue stream while also attracting the younger, Gen Z audience members that tend to shun the network.
- These changes could also indicate that Facebook is looking to carve out a piece of the game-streaming industry, which continues to experience explosive growth.