With a plethora of influencer marketing agencies out there, it's outright dizzying and hard to know who to invest with. This is a question clients looked to me to answer in my past life (just two weeks ago!) as an influencer marketing professional largely working on the agency side of things. For a decade, I've watched influencer tech companies/networks rise to the top and then slowly fizzle out of favor. So why, ON EARTH, did I leave my cushy VP of Influencer Marketing title at a top Manhattan PR firm to work with The Cirqle? I'm so glad you asked!
One of the first things clients ask us when they launch a campaign through The Cirqle platform is how can we help them identify and recruit the best and most affluent influencers for their brand. Of course, this may seem easy from the outset, but the perils of the market have proven otherwise all too often. At best, brands can now only hope to steer opinions that consumers have about them - and to do so, they turn to an ever expanding marketing stack of technology services and media companies. At a time when many are blocking traditional banner ads or skipping TV commercials (Netflix), influencers become the pinnacle of leading conversations with the world.
In South Korea, over 2 trillion South Korean won (KRW, or $2.4 billion USD) was spent on advertising on mobile platforms last year, surpassing that of advertising on cable TV - 1.8 trillion KRW - for the first time. While Instagram influencers in the US charge up to $100,000 USD for a sponsored post, industry insiders say brands in South Korea pay from 100,000 KRW to more than 2 million KRW for a single social media post, depending on the loyalty of the person’s followers.
Beauty and fashion brands are at the forefront of using social media influencers who have millions of followers. We sat down with Jude Kim, who runs Global Business Development at The SMC in Seoul, Korea and serves clients like Google and eBay, and asked him for his vision regarding the Asian (kol/influencer) market.
Transparency is now coming faster than ever, to all industries, including the industry of influencer marketing. We took a moment to sit down with one of our closest partners in the midst of the hustle and bustle that is New York City to talk through some of the latest developments blockchain may bring to the influencer industry.
What follows is a unique interview with experienced digital strategist and Vice-President Influencer Marketing at MMC Alayna Palgon to hear her take on this evolving frontier.