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In this week’s influencer marketing agency roundup, we examine some fascinating statistics regarding the growth of social media marketing and the important of social selling, why brands are abandoning company mascots for social media influencers, and why today’s top Vine stars are finally asking Twitter to be compensated for their hard work.
Top YouTubers Hannah Hart, Mamrie Hart, Grace Helbig, and Ingrid Nilsen (over 20 million combined social media followers) recently announced an equity stake in a new foodie app called Dysh, according to Tubefilter. The social media stars will help promote the startup, which allows users to rate restaurant menus items, and shape various social features (social interaction functionality, cross-platform posts, etc.) as “Taste Buds” (i.e. Dysh advisors).
According to an eConsultancy survey, 97% of digital marketers for retail brands believe that optimizing a consumer’s experiences across every touchpoint—all social media platforms, website content, email marketing, etc.—will have a large impact on marketing success in the coming years. Consistency in brand messaging is also a concern for 96% of brands surveyed, highlighting the need for companies to be clear on campaign talking points and brand messaging when partnering with social media influencers.
To further solidify YouTubers’ acceptance into mainstream entertainment, the iconic Tribeca Film Festival announced it will now feature a marketplace (aptly named the Tribeca Digital Creators Market) where top YouTubers and other social media influencers can network with industry buyers, producers, and agents. The event will also welcome YouTube stars The Gregory Brothers, Mikey Murphy, Ingrid Nilsen, Joe Penna, and Meghan Tonjes, and screen upcoming projects from digital content studios and MCNs Fullscreen, Maker Studios, Stylehaul, Fine Brothers Entertainment, and YouTube Red. “With this new platform,” Tribeca Film Festival director Genna Terranova said, “we hope to encourage quality storytelling in digital media […] and give the public a first look at what their favorite creators are working on (Variety).”
A study by Zenith Optimedia, a digital marketing agency, predicts that spending on digital advertising will increase by 15.7% in 2016, with spending on social media and online video continuing to increase by 31.9% and 22.4% in 2016, respectively. Zenith’s study also forecasts spending on digital advertising is likely to eclipse $600 billion by the end of 2017, surpassing television ad spending earlier than most had expected.
While Twitter has been struggling as of late—according to a Business Insider report, the microblogging platform saw its stock fall by 60% over the last year—Vine (which is owned by Twitter) has been a bright spot for the social media giant. According to a Buzzfeed report, Viners, whose creative and entertaining videos have attracted millions of followers to their channels and to the app in general, are now asking to be compensated by Twitter for their hard work and content. “There’s no war or bad blood, the creators just want to be treated fairly,” one creator said regarding a recent meeting between Vine stars and top Twitter officials. “Right now they are trying to figure this out.”
While brands often partner with social influencers based solely on the number of followers each social media star has (see our article on why this may be a bad idea), a recent study by tech startup Gnack found that influencers with fewer than 10,000 followers have higher engagement levels—up to 5x more engagement, in fact—than social media stars with more than 10,000 followers/subscribers (Adweek). While exposing a large number of people to a brand’s product, service, or message can sometimes be beneficial, collaborating with a social media influencer that engages with followers (and therefore influences purchasing decisions) can often yield better campaign results.
Need help picking the right social media influencers for your next marketing campaign? See our post here.
Burger King’s “The King,” the Michelin Man, and other brand mascots have fallen by the wayside as social media influencers demonstrate a greater ability to connect with audiences, reports Digiday’s Yuyu Chen. In today’s social media-obsessed culture, brands are now relying on Snapchatters, Viners, Instagrammers, and YouTubers to engage consumers, sometimes cultivating year-long relationships with influencers and creating powerful brand advocates through influencer marketing campaigns.
A recent eConsultancy detailing a LinkedIn survey found that over 80% of sales and business professionals use social media to help close deals, and 98% of top performers surveyed consider social selling to be “extremely critical” when making a sale. The survey also found that, in the United Kingdon, 21% of business development professionals spend between five and ten hours on social media each week.
Not one to take a back seat in anything video or livestreaming-related, YouTube has announced a new service that will place it into the livestreaming arena with Periscope and Facebook Live. As Ars Technica’s Ron Amadeo reports, “the new service would be yet another expansion of the YouTube brand and app lineup. Including Connect, YouTube’s video empire would be spread across a whopping seven apps: the regular YouTube app, YouTube Gaming, YouTube Music, YouTube Kids, YouTube Creator Studio, and YouTube Capture. There is also the umbrella subscription service YouTube Red.”