The influencer marketing network is currently set up to benefit only the most successful. This level of success is measured on the number of followers an individual has, genuine or not. However, JET8 believes that loyal consumers of brands and retailers have the potential to have a greater social influence online.
According to a study conducted by MediaKix, it is estimated that the global ad spend on influencer marketing will be a $5–10 billion market by 2020. It is also advised that fake Instagram accounts could be costing advertisers close to $100 million per year.
Currently, the majority of social influencers, are paid a fixed amount for insincere and often undisclosed product placements on their social platforms. This content is often not authentic and comes across as forced. It has become a battle between brands to secure the “most” influential individual thus, forking out more money with no guaranteed ROI.
With trends and technology always changing, it can be assured that influencer marketing as we know it, will change. An article on Shane Barker highlights a few changes to anticipate in the industry; Micro-Influencers, with fewer followers these influencers work to maintain close bonds with their following thus having good engagement on their platforms. It is predicted that micro-influencers are the future of influencer marketing. The emergence of influencer networks, marketers will start to group influencers based on the brands they associate themselves with. Influencers that can relate to more than one segment will most likely be favored by brands. Increase in-house influencer programs, Macy’s ran a successful in-house influencer program for their employees by turning 300 of them into brand ambassadors. The brand saw it as a way to connect with their staff and to encourage staff to be more energized at work.
JET8 Technology offers a social platform that enables brands to reward loyal consumers for their User Generated Content.
Content is at its most effective when created for engagement purposes. Our Technology ensures the consumer is not left behind, instead it is part of the journey.
On average a millennial will upload about 25 000 selfies in their lifetime, with over 100 million selfies posted on the internet daily. With this amount of content being generated for free, should the actual creators not benefit?
For us the answer is, YES. Our technology creates an opportunity for the average consumer to instantly become a micro-influencer. Some consumers are more influential in their direct community than current social media influencers, who are more focused on increasing their follower base.
