Many would agree 2018 has been the year in which we have seen the influencer marketing industry mature. Budgets have increased as we have seen this tactic move from an experimental to a strategic phase. Marketers have realized it is an effective and solid marketing tactic for those wanting to reach fragmented audiences online.
As influencer marketing becomes a crucial and integral part of the marketing mix, many brands are taking a big step by dedicating in-house resources and taking charge of their programs. These internal changes speak to the growing importance of influencer marketing.
At Open Influence, we recognized this trend early on and decided to expand our core offerings. To address the increased sophistication in the market, we decided to open up and started offering some of the expert tools we developed with our clients via our self-serve platform. This offering allows users to scale their influencer marketing initiatives, by getting access to our proprietary technology that leverages our terabytes of data, Amazon Rekognition, and other artificial intelligence tools to analyze more than 100 million pieces of content from over 400K+ influencers and growing. Our platform gives marketers the power to search from over 20M unique keywords and tags to select the best influencers for a specific campaign. Our platform is designed for advertisers serious about generating ROI while protecting and enhancing their brand equity.
When it comes to allocating digital marketing budgets we understand brands need to plan strategically. In some instances (e.g. when budgets are small) it would make sense to go for this type of offering. But in some other cases, the support of a full-service agency is required to enhance internal initiatives in order to achieve the highest ROI.
Here are top reasons why a full-service partnership will always be a big win:
Talent relations/ Preferred Partnerships
As one of the first players in the space, we started establishing relations with content creators before the term “influencer” was even coined. We have monitored the space since the very beginning witnessing new talent agencies emerge, as well as big industry changes, like major traditional agencies trying to build up portfolios of digital talent. We have been at the forefront of the industry building strong laces with key industry talent players. Needless to say, that there are major cost advantages due to our scale of operation.
When we started the business it was the Wild West. There were no formulas because we were trying to do something that no one had ever done before. Being in the business for over 5+ years, we have put processes in place to streamline and reduce potential risks of working with influencers. Without the proper workflows, working with influencers can be extremely time-consuming!
Legal negotiation and contracting
Over the years as we evaluate the pulse of the industry, we have refined techniques and practices. Having a business and legal understanding, as it pertains to influencer marketing, is crucial when negotiating contracts with talent.
Understanding the building blocks of the industry is as important as having the tools and expertise to adjust to the fast-moving and changing nature of the digital media landscape. Equally important, working across a diverse range of verticals, broadens the perspective and creative outlook to develop strategic campaigns.
On the Internet, there are no geographical boundaries. This can open infinite opportunities, as well as some challenges. Having teams of passionate experts, across the globe, has proved dispensable to meet the client’s needs to reach specific markets.
As a pioneering company, we have led and established guidelines for the industry. We have been active participants in the development of the foundation for the influencer marketing space and have become a trusted thought leadership source.
If you are a brand or an agency and you want to explore a partnership with us, contact us.