An interview with an anonymous social media exec on Digiday raised a question a lot of us have begun to ponder: is the value of online influencer marketing worth the rapidly rising costs and still often imprecise selection processes?
Or is it a potential 'goldmine' for marketers - bypassing adblocking mechanisms and connecting with key demographic segments in the only way they find authentic and relevant, a view held by many in marketing and PR.
I think a market correction is in order, but online influencer marketing does work. And as press-to-buy ecommerce continues to permeate everything we encounter online, influencers are not going away anytime soon.
So maybe it's like what US marketing pioneer John Wanamaker said in the last century - "I know half my advertising spending is wasted - I just don't know which half."
Let's continue to refine what works in influencer selection and find the right value for their capacity to connect with communities that are important to us.
“Influencer” is the biggest buzzword of the moment. An entire ecosystem has evolved around these social media stars, but there are cracks in the foundation. The relationship between brands, agencies and influencers is starting to get rocky. In this edition of Confessions, a social media executive lays out how this relationship soured.