Reviewing FameBit’s Influencer Marketing Platform
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FameBit Review: YouTube, Instagram & Vine Influencer Marketing Platform
In an effort to provide a marketplace for brands enlisting social media and digital influencers , influencer marketing platforms including FameBit were created. FameBit in 2014 became one of the first self-service influencer marketing platforms featuring YouTube influencers. Now, FameBit has expanded their platform to several other social media channels including Twitter, Instagram, Vine, Tumblr, and Facebook. While influencer marketing platforms are adept at certain aspects of a viable influencer campaign, like most software applications, they have varied strengths, limitations, and drawbacks.
What To Know About Influencer Marketing
Influencer marketing is advertising for brands with top social media influencers. This type of paid advertising is effective for branding-based and direct-response initiatives, and can take the form of paid sponsorships, product placement, and sponsored content across all social media channels (YouTube, Instagram, Snapchat, Vine, blogs, et. al.).
Just in recent years, the practice of advertising with social media influencers to their vast audiences across multiple social media channels—has completely changed how brands, agencies, and fast-growth startups approach effective advertising to reach audiences online. The immense growth and user adoption rates of social media apps, networks, and channels has plummeted TV viewership/reach, quickly driven up time spent on social (for some demographics, up to 9 hours each day), and also made it harder for marketers to message increasingly segmented niche interests and audiences online.
Accompanying social's substantial growth, each social media channel features today's new social celebrity: highly engaging YouTubers, Instagrammers, Snapchatters, Viners, and bloggers with vast audience reach oftentimes in the millions of subscribers, followers, and fans. Audiences and many of marketing's critical demographics look directly to these tastemakers, lifestyle icons, and role models on social media to provide consumer and lifestyle cues. As such, marketing with top YouTubers, Instagrammers, Snapchatters, and bloggers is an essential part of every company earnestly seeking to drive impactful brand awareness, engagement, and conversions.
What You Need To Know About FameBit's Influencer Marketing Platform
FameBit provides a centralized hub where social media influencers who have signed up on the platform can create branded and sponsored content for submitted brand campaigns. FameBit seeks to provide a comprehensive, self-service option for brands and as told to Tubefilter's Bree Brouwer, "the tools to tap into influencers’ other social platforms within one campaign, providing more storytelling options and even greater audience reach."
What Is An Offer Platform? Marketplace?
In the influencer marketing industry, services like FameBit are referred to as "offer platforms." Marketplaces are supply-and-demand communities that connect buyers and sellers, service providers and consumers. Popular marketplace examples include Airbnb, Etsy, Uber, oDesk, and TaskRabbit.
Offer platforms are marketplaces that enable its registered social media influencers to bid and make offers on proposed campaigns based on each influencer's interest level in the brand and its campaign. While offer platforms vary, most provide cursory tools for finding and/or identifying influencers, elided payment processes, communication, and analytics.
How Does FameBit's Platform Work?
FameBit's influencer marketing platform allows brands to sell their products/services through FameBit's creators. Brands can submit campaigns with a minimum bid of $100. FameBit's creators can then express interest in submitted campaigns and if selected by the brand, will create social media content for the campaign to promote the brand to their social media following.
FameBit charges a service fee percentage atop each campaign. For companies seeking to use FameBit, here's how to create a campaign within their influencer marketing platform dashboard:
- Upon clicking on "Create Campaign," the user will be prompted to select social media channels. Presently, FameBit's influencer marketing platform supports YouTube, Twitter, Instagram, Vine, Tumblr, and Facebook. The user can select multiple social channels.
- Once social channels are selected, the user is prompted to fill in campaign details including title, pertinent details, a URL, and submission deadline. Additionally, the user has the options to upload a product photo and specify a campaign category (Beauty & Fashion, Gaming & Apps, Health & Fitness, Pets, Tech, or Other).
- After FameBit approves the newly created campaign, creators and influencers can begin submitting bids.
- Within the dashboard, FameBit segments information between "Proposals" and "Content" with a variety of subsections designed to facilitate workflow (messaging, actions required, pending approval).
- FameBit provides a shortlist of featured creators sortable by category. Users can also view creators hired in past campaigns along with their social channels and initial stats.
The Pros & Cons Of Influencer Marketing Platforms
For creators and social media influencers seeking to increase earning potential, establishing a profile on FameBit (amongst other influencer marketing platforms including Popular Pays and Izea) and being active on the platform will aid discovery and supply brand campaign opportunities. For brands, advertisers, and those seeking to work with creators, FameBit's offer platform provides a way to receive bids from interested social media influencers.
While the best platforms may boast thousands of influencers, many of the world's best creators eschew these platforms opting instead to work through managers, MCNs, YouTube influencer agencies, and influencer marketing agencies. In general, platforms allow for quick one-offs in instances where nuanced branding efforts, higher-level collaboration, and long-term strategy are not critical. To truly utilize the existing potential of these self-service platforms, users must already possess a solid grasp of constructing, managing, and executing influencer marketing strategies.
The Pros Of FameBit's Influencer Marketing Platform
- Campaign management dashboard
- Ability to sort platform's top creators
- Payment portal
- Brands can submit campaigns of $100 or more
- Creators can respond to campaigns based on interest level
The Cons Of FameBit's Influencer Marketing Platform
- Limited campaign scope/possibilities
- Requires user to fully understand influencer marketing strategies and concepts in order to maximize platform use
- Requires user to fully understand how to properly find/identify influencers
- Limited influencers and creators on platform
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March 18, 2016 By Mediakix Team