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How the Producer Economy Is Changing Influencer Marketing

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How the Producer Economy Is Changing Influencer Marketing

Influencer marketing is evolving into what’s being called “the producer economy” consisting of content creators who seek to build their own media brands that are independent of social media platforms. This push for greater control over distribution also affects brands as they build their own media networks to engage consumers.

“The digital landscape is so messy and it’s so hard to break through the noise,” said Jennifer Smith, CMO of online video platform Brightcove. “The challenge for marketing is to think about two things: how to create content for that space, and then how do you distribute that content back to the right people?”

By taking full ownership of what they create, producers and brands can work on distributing long-form content resembling TV channels and shows. They can deliver higher-quality content that builds on subject matter expertise over time and prolong the exposure to their own media brands, according to Brightcove. But while the approach offers flexibility and greater creator control, it isn’t without challenges. By ditching mainstream sites popular among consumers, creators and brands are gambling with the Wild West of independent platforms and may risk audiences passing them up for content already available on their preferred social apps.

Greater ownership

This next stage in the transformation of influencer marketing follows significant growth of content creators over the past few years. Brands’ global spending on influencers was estimated to more than double from $6.5 billion in 2019 to $13.8 billion last year, according to data compiled by Statista. Amid this industry boom, content creators often face difficulties in determining their value in negotiating brand partnerships, especially as social media platforms can collect as much as 45% of creators’ ad revenue, according to data provided by Brightcove. Creators and brands with their own channels on social platforms or video-sharing sites are at the mercy of recommendation algorithms that don’t ensure organic reach. Their content can get lost amid the vast amounts of clutter, diminishing the return on investment.

“You can spend a lot of time creating all this very expensive, great content,” Smith said. “You put it up on YouTube and your competitors are advertising against it, and it’s the same with all these social media channels.”

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Faced with the clutter of videos across various websites, Smith said Brightcove customers are looking for greater ownership over content so they can wield greater control over video production and channel management.

“They’re saying, ‘how do I create a channel that keeps my audiences engaged, [but] not a website because they’re hard to navigate?’”

Developing creator partnerships

As the creator economy is poised to evolve into a producer economy consisting of influencers and brands owning and managing their own media channels, their relationships are also likely to change. Marketers that are negotiating partnerships must not only consider their needs, but also the needs of the content creator, influencer or other potential brand partners, according to Brightcove.

“Marketers are thinking about this whether they’re selling financial services or a piece of technology or a children’s game,” Smith said. “They’re saying, ‘how do we actually create content in a compelling way, and how do we put that count out in channels that we own?’”

There’s more opportunity for flexibility among brands that build in-house content production teams, including how they negotiate influencer relationships. Whether they collaborate for a single campaign or for a longer-term marketing partnership, brands and influencers will need metrics to evaluate outcomes and inform future efforts.

“Between the one-off engagement and more of a longer-term contract, the challenge comes in understanding the return that it’s getting you,” Smith said. “Marketers are still behind when it comes to the analytics of understanding what it’s delivering for us.”

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Authenticity and brand safety

The proliferation of user-generated content (UGC) on video-sharing and social media apps has led to greater public acceptance of online personalities who come across as more authentic and relatable. UGC makes up 39% of the weekly media hours for U.S. consumers, compared with 61% for traditional content, according to a Consumer Technology Association survey. Among teenagers, the time spent with UGC is close to overtaking traditional TV, the study found. However, that swelling popularity comes with brand safety concerns for advertisers whose marketing messages appear next to it or embedded within it.

“The producer economy is creating new opportunities for marketers as they step up and become producers themselves,” Smith said. “Now that they are unleashed from the constraints of other publishers and even social sites, it gives marketers more control over their content.”

Those controls include video with a clearer message and brand tie-in, along with data and analytics that offer a more transparent view of audiences. With videos posted on social media or other platforms, the information is aggregated and more anonymized, limiting the insights marketers can glean.

While brands can alleviate some issues through controlling their own media channel — whether it’s a connected TV (CTV) app or other method of distributing video — they no longer have the ability to outsource production, content management or influencer recruiting, forcing them to become jacks-of-all-trades. Building that in-house expertise on a range of tasks can take significant time, money and experimentation.

It’s a delicate balance between producing content that conveys a desired message and doing so in a way that gels with the less-polished style of content that’s currently in vogue. Brands and creators that experiment in this space early on and navigate hiccups may help to steer the influencer marketing industry at large.

“I’m challenging people to think outside of the box when it comes to creating their own owned and operated channels,” Smith said. “The long-term will pay off dividends.”

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Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

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Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.

The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.

According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.

Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.

Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.

The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.

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This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.

Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.

As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?

Only time will tell.

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Catering to specific audience boosts your business, says accountant turned coach

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Catering to specific audience boosts your business, says accountant turned coach

While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.

When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.

“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.

Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.

“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.” 

“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.

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“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.

Watch the video for more of Sandra Parker’s biggest lessons.

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Instagram Tests Live-Stream Games to Enhance Engagement

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Instagram Tests Live-Stream Games to Enhance Engagement

Instagram’s testing out some new options to help spice up your live-streams in the app, with some live broadcasters now able to select a game that they can play with viewers in-stream.

As you can see in these example screens, posted by Ahmed Ghanem, some creators now have the option to play either “This or That”, a question and answer prompt that you can share with your viewers, or “Trivia”, to generate more engagement within your IG live-streams.

That could be a simple way to spark more conversation and interaction, which could then lead into further engagement opportunities from your live audience.

Meta’s been exploring more ways to make live-streaming a bigger consideration for IG creators, with a view to live-streams potentially catching on with more users.

That includes the gradual expansion of its “Stars” live-stream donation program, giving more creators in more regions a means to accept donations from live-stream viewers, while back in December, Instagram also added some new options to make it easier to go live using third-party tools via desktop PCs.

Live streaming has been a major shift in China, where shopping live-streams, in particular, have led to massive opportunities for streaming platforms. They haven’t caught on in the same way in Western regions, but as TikTok and YouTube look to push live-stream adoption, there is still a chance that they will become a much bigger element in future.

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Which is why IG is also trying to stay in touch, and add more ways for its creators to engage via streams. Live-stream games is another element within this, which could make this a better community-building, and potentially sales-driving option.

We’ve asked Instagram for more information on this test, and we’ll update this post if/when we hear back.

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