As the founder of The Cirqle, a startup that enables brands, communities and businesses to launch influencer marketing campaigns, I’ve watched the days of exclusive press releases/events disappear. The Internet has changed the inception process. In 2017/2018 companies seed products through influencers, leak "exclusives" to reporters, bloggers, and consumers, live-stream launch events globally and reward brand advocates with pre-access. The velocity of the news cycle and the uprise of social media makes launching a new product far easier in some ways—and more difficult in others.
Marketers love influencer marketing because it takes the brand out of the equation. Instead of filtering the message through a brand’s lens, the influencer makes the product or service his own. We've seen three challenges that will push more brands, agencies and institutions towards the influencer marketing realm:
1. The Rise of Ad Blockers
In the US, more than 32% (Europe > 20%) of all internet users have an Ad Blocker installed. Making online advertising increasingly more inefficient. At the same time, 92% of consumers trust user-generated content and word-of-mouth more than advertising and 74% rely on social network to help guide a purchase (eMarketer).
2. There's a push towards influencer marketing, but it's a time-consuming and expensive ordeal.
- Finding the right influencers for your target audience on the right platform;
- Managing contacts with influencers and negotiating contracts cross-state/country;
- Accurately measuring the effectiveness of the content;
- Managing workflow around influencer marketing solutions;
3. Fragmented landscape
Brands have to contact numerous different types of agencies, tech companies and services to run simple, straightforward campaigns. There’s no efficient full suite solution for running influencer marketing campaigns across different countries.
Influencer marketing, why?
The broader digital advertising industry represents a $14 billion revenue opportunity and is expected to see double-digit growth over the next five year (Forbes). With 84% of brands planning to launch an influencer marketing campaign in the next 12 months, the interest in influencer marketing continues to grow as brands seek the most effective way to target their core audience.
If social influencers didn’t add value to an organization, 84 percent of marketers would look elsewhere for their campaigns.