Everything You Need To Know About INFLUENCER Marketing in 2021

In this episode of the Marketing Samurais video series, Crom Salvatera speaks to Tom Maynard Founder of Sydney Based influencer agency ‘Amplify‘.

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Timestamps

0:00 Start

0:08 Introducing Tom Maynard Founder of ‘Amplify’

2:59 What is an ‘Influencer’?

3:49 ‘Influencer Marketing’ VS ‘Celebrity Endorsement’

8:30 We represent the careers of the influencers

10:28 How many followers would one need to be considered an ‘Influencer’?

14:53 Introducing the ‘Creator Economy’

15:25 When did Influencer Phenomenon start?

17:22 How does one become an Influencer?

21:20 The Five Pillars of Digital Marketing SEO, PPC, Social Media, Email, and CRO

23:10 Sixth Pillar of Digital Marketing

27:15 The world is fragmented yet Influencers are attainable

30:23 Watching the effect of the marketing go nuts in real-time

36:15 The pivot during a pandemic

43:09 How was the business navigated during the crisis

45:05 The biggest opportunities for influencer marketing in the next 12 months

52:37 What is Social Commerce?

Take Aways About Influencer Marketing

Creator Economy

The creator economy is a term used to describe the new class of entrepreneurs who are leveraging digital platforms to create, distribute, and monetise their content. This economy is fuelled by social media platforms, streaming services, and other online tools that enable individuals to reach large audiences and build personal brands.

Creators in this economy can include influencers, bloggers, podcasters, video producers, artists, and various other content creators who use platforms like Instagram, YouTube, TikTok, and Twitch, among others. These creators typically generate income through a variety of revenue streams such as brand collaborations, sponsored content, merchandise sales, affiliate marketing, and direct support from fans through platforms like Patreon.

The creator economy has been growing steadily over the past few years, driven by advances in technology, the accessibility of high-quality production tools, and the increasing appetite for user-generated content. This growth has led to the rise of new industries and services catering specifically to creators, such as influencer marketing agencies, creator-focused financial products, and platforms for managing and monetising creator content.

In short, the creator economy refers to the ecosystem of individuals and businesses that are capitalising on the opportunities presented by digital platforms to create and monetise content, and it has become an increasingly significant part of the broader economy.

What is an influencer?

An ‘influencer’ is an individual who has built a significant following or reputation on social media platforms or other online channels. These individuals have the power to affect the opinions, decisions, and behaviours of their audience due to their perceived expertise, authenticity, or relatability. Influencers often have a niche in which they specialise, such as fashion, beauty, fitness, travel, gaming, or technology.

Influencers can be categorised into different levels based on the size of their following:

1. Nano-influencers: These influencers typically have a smaller following, usually between 1,000 and 10,000 followers. They tend to have highly engaged audiences and can be highly effective for local or niche campaigns.
2. Micro-influencers: These influencers have between 10,000 and 50,000 followers. They usually focus on a specific niche and have a highly engaged audience, making them ideal for targeted marketing efforts.
3. Macro-influencers: With follower counts between 50,000 and 1 million, macro-influencers have a broader reach and can generate significant engagement, making them appealing to brands for larger campaigns.
4. Mega-influencers: These influencers have over 1 million followers and often enjoy celebrity status. They can reach massive audiences and create a substantial impact for brands.

Brands and marketers often collaborate with influencers to promote products, services, or causes, leveraging the trust and credibility that influencers have built with their audience. This practice, known as influencer marketing, has become an increasingly popular and effective marketing strategy in the digital age.

What is Social Commerce?

Social commerce is the process of selling products or services directly through social media platforms. It combines the power of social media and e-commerce, allowing users to discover, share, and purchase products without leaving their preferred social media environment. This approach streamlines the shopping experience and makes it more convenient for consumers, who can make purchases based on recommendations from friends, influencers, or targeted advertisements.

Some key features of social commerce include:

1. Shoppable posts: Social media platforms like Instagram, Facebook, and Pinterest allow brands to create posts with product tags or links that take users directly to the product page, enabling them to make a purchase with just a few clicks.
2. Influencer partnerships: Brands often collaborate with influencers to promote their products or services on social media, leveraging the trust and credibility that influencers have built with their audience.
3. Social media storefronts: Some social media platforms, such as Facebook and Instagram, offer businesses the ability to create dedicated storefronts within the platform, enabling users to browse and purchase products without leaving the app.
4. User-generated content: Brands can encourage their customers to share photos, reviews, or experiences with their products on social media, providing social proof and fostering a sense of community.

Social commerce is growing rapidly as more consumers turn to social media platforms for product discovery and recommendations. It has become an essential component of many businesses’ online sales strategies, as it allows them to capitalise on the powerful influence that social media has on consumer behaviour.

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