In 2022, in the United States alone, brands will spend over $200 billion on digital advertising with platforms like Facebook, Google, Snapchat among others. The same brands are projected to spend $4.4 billion on influencer marketing. This is despite the fact that 89% believe that influencer marketing works as well as, if not better than other marketing channels. And still, the top 15 brands spend more on platforms than the entire influencer marketing industry in the country.
With the rise in ad blockers and ad fatigue, consumers are tired of ads. Would you buy something because someone you admire recommended it or because you saw it on an ad? The majority will say the former, yet marketers spend 50 times as much on ads. There has to be a reason for this.
There is: Influencer marketing simply isn’t programmatic enough. There’s a number of platforms that try, but they simply aren’t focused on the right things. These platforms allow brands to:
- Go through and choose from a list of millions.
- Identify and understand the right influencers.
- Email them through the platform.
- Negotiate rates, contracts and schedules.
- Review and approve content.
- Review the campaign upon completion.
Each step in the process can take at least 5-10 hours over the course of 1-2 weeks. When the same brands are running ads, all they have to do:
- Prepare creative
- Upload creative, select audience, select budget
- Run ads
Running an ad is just much easier. It takes a few clicks and there’s less hoops to go through. Influencer marketing on the other hand takes hours of staff time, agency time and is longer to execute. Current players in the market are focussed on bringing all the features of the process together in an all in one platform instead of focussing on making the process faster. They’re focussed on being ‘all in one creator management’ rather than focusing on how to make the space more programmatic.
The space desperately needs a solution focussed on the right problem. That’s what we’re focussed on. In conversation with hundreds of brands, they’ve expressed concern on one of the main places that takes time in the process: finding & sourcing the right creators. That’s where we’re starting. We’re focused on building software that matches brands with influencers in just a few clicks. This will not only save brands time, but will also make the influencer marketing process more accessible, especially for platforms like TikTok where influencer content can be volatile, especially if there isn’t a match between brands and influencers.
No more scrolling, sorting and choosing. We will start here and slowly expand to other steps in the process to make the influencer marketing process as programmatic as ads. Only then will we make it easy for brands to stop putting money into large tech platforms and focus on investing in people: influencers. Working with us is an investment in people, influencers, creators, not platforms. Join us and let’s change the future of marketing.