“We look forward to seeing FameBit and the entire branded content space thrive as we continue to support the success and creativity of the creator community.”
― Ariel Bardin, vice-president of product management at Google
Influencer marketing is a red-hot technique in the digital world. In a time where consumers are disillusioned by traditional advertising and social authorities are capturing the hearts and minds of millions, marketers have found a portal to capitalize on these influential figures by partnering them with brands to push products, services and messages out to the masses.
Currently, one of the most productive places to enact an influencer marketing campaign is on YouTube. Due to the massive popularity of the platform and the incredible increase in digital video consumption over the past few years, this platform has become the pinnacle of influencer engagement. Influencer marketing campaigns put on through YouTube have become so profound and effective that even the all-mighty Google wants in on the action.
“. . . We’re excited to announce that Google has acquired FameBit — a technology platform company that helps creators and brands find and work with each other through sponsorships and paid promotion. We believe that Google’s relationship with brands and YouTube’s partnerships with creators, combined with FameBit’s technology and expertise, will help increase the number of branded content opportunities available, bringing even more revenue into the online video community.”
FameBit is, essentially, a marketplace platform for connecting brand and influencers on marketing efforts. The platform originally started out exclusively dealing with YouTube authorities, but has since expanded to include other platforms like Instagram and Vine. While Google has officially purchased the company, it will continue to operate independently.
This acquisition is quite significant for Google and for the world of marketing. As far as Google is concerned, the company has been troubled about the monetization of YouTube for some time now. This deal quells any concerns because it will put money in Google’s pocket every time a brand engages an influencer through the FameBit platform. Additionally, Google has seen no profits from any influencer campaigns that have taken place on YouTube, despite its status as a Google property; with the FameBit acquisition, that dynamic largely changes considering that this single marketplace has alone been responsible for more than 25,000 branded videos.
On the marketing side of things, Google’s purchase of FameBit officially solidifies influencer marketing as a core marketing strategy in the digital world. There have been scores of publications produced touting the death or ineffectiveness of influencer marketing. Considering Google’s recent investment in the modality, and the countless successful campaigns that have taken place, this myth can finally be put to rest.
How does this impact your day-to-day marketing efforts? Let’s investigate.
Modifications to Marketing Strategies
Firstly, if you are already in the trenches of influencer marketing, FameBit founders David Kierzkowski and Agnes Kozera have confirmed through the site’s announcement of the transaction that the deal does not affect how brands and influencers do business or how influencer campaigns are managed through the platform or YouTube. That’s the good news.
What this does indicate, however, is that Google intimately understands the power of influencer marketing and aims to increase its prominence in the marketing ecosystem. Bardin made this clear in the YouTube blog when he stated:
“We believe that Google’s relationship with brands and YouTube’s partnerships with creators, combined with FameBit’s technology and expertise, will help increase the number of branded content opportunities available, bringing even more revenue into the online video community.”
This is more good news if you’re already in the influencer marketing fray. If you’re not, it’s definitely time to consider jumping in.
Now that Google has a stake in influencer marketing, it is going to attempt to get marketers to leverage the modality in a much more comprehensive way. Some view the acquisition as an attempt by Google to simply add another advertising channel to YouTube, much in the way that it already utilizes TrueView, skippable ads, non-skippable ads, and other forms of promotion. Google seeks to have marketers incorporate influencer marketing into their monthly budgets the same way they would ad expenditures. This means that the marketing discipline is going to become much more widely available and YouTube is about to receive a massive influx of branded content.
In the minds of many business owners, influencer marketing is a premier strategy that should be taken quite seriously due to the incredible results that can be achieved. For those that thought otherwise, it is time to take a good look at what just happened; Google bought FameBit so it too could profit for the massive amount of branded content produced each week. This is a strategy worth diving into.
Why does influencer marketing works so well? Because consumers love and trust influencers along with the engaging content that they produce. This, combined with the fact that video will soon take over the Web, could lead to influencer marketing becoming the most common form of online product promotion. As long as these social authorities maintain their authenticity and integrity, their fans will continue to follow and brands will continue to successfully leverage their status, time and time again.
If you are not already embroiled in influencer marketing practices, it will soon be more accessible and affordable than ever, so your excuses of avoiding the practice have all run out. Take a cue from Google and give influencers a shot.
Do you think Google’s acquisition of FameBit will solidify influencer marketing’s status as a viable technique or might it become so watered down that it will eventually disappear?