Influencers have been in the spotlight of every social media platform for more than a few years now. But more than just entertainment, they also have created an entirely new branch of marketing.
Whether they’re selling makeup, courses, or fitness regiments. But even with their ubiquity, a couple of glaring questions remain…
Is “influencing” a REAL job?
And if it is… can it exist in the long run?
Influencers And Their Obstacles
It’s an understatement to say that influencers have become vital aspects of the social media landscape. They generate millions of dollars in ad revenue for the platforms they serve…
And have become as recognizable as A-list celebrities…
But influencer marketing on the other hand has been in a weird spot for some time…
Influencers, due to their output of content creation…
Have been considered by some to be “platform gig workers” which puts creators in the same category as…
Uber drivers…
Door dash bikers…
And other jobs found thanks to different apps and sites.
But because influencers’ market values are set by their metrics…
Contracts with brands have been historically difficult due to the legal jargon…
AND PRIMARILY, DUE TO THE DIFFICULTY IN PRICING AN INFLUENCER’S SERVICES.
Not to mention, the creator’s workplace, the apps, are always changing.
Thanks to content moderation policies, shadow banning, and shifting algorithms…
Landscapes for content creators are getting harder and harder to predict…
Which makes it even more difficult for influencers to leverage their positions when negotiating gigs.
But thankfully…
The tide is starting to turn and major brands are starting to see the value in influencer marketing.
The Creator Economy is BOOMING
Brands are starting to take more and more interest in the power that influencers hold over social media.
So far, in 2024, dozens of companies have chosen to reinvest in ad spending and new campaigns.
And the numbers show it.
Goldman Sachs predicts that by 2027, thanks to influencers and their content…
THE CREATOR ECONOMY COULD GROW INTO A $480 BILLION INDUSTRY
And some of the major shifts are happening right now. Just this year, influencer marketing firm, Fohr, saw a 36% increase in year-over-year deal volume.
These brands are starting to invest in long-term contracts rather than short-term partnerships with creators. Plus, these new contracts allow brands to market to influencers’ different social media pages…
Known as cross-platform promotion.
This kind of promotion allows brands to access wider and more specific audiences.
All of these are examples of how larger companies are utilizing influencers to beef up their marketing game…
While keeping the job of “influencing” still alive.
Ultimately, influencers haven’t been rendered obsolete so far…
In fact, they have transformed themselves into an essential part of the marketing cycle.
Be Great,
GCTV Staff
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