I think trust is the crux of the whole thing. Influencers talk about this a lot, amongst themselves. If I, for example, started promoting products or services that were not good, on A Lady in London or my channels, people would stop trusting me and I would lose all my audience and then, obviously, I would lose all my sponsorships. The opposite is true too; if I really endorse a product, vetting the products and services really carefully, and making sure that they are things that I believe in, then my readers or followers have a good experience with those products and services, then it makes them trust me more and good things happen from that, too. Trust is really important.
I think, some brands are necessarily looking to work with the right influencers. They want to work with influencers and they either do a big approach, where they work with tons of different influencers, without really understanding the specific influencers and their audiences. So they miss out on that factor, because they’re just working with people who aren’t a great fit. The brands, maybe, have a good product, but the influencer isn’t the right person to work with or their demographic isn’t the right one that they are trying to reach. I think, some brands just don’t quite see the need to really get specific about working with the right influencers and the people who are going to, firstly, both believe in their product and really endorse it, personally. Secondly, have the audience who is going to be interested in it and have a positive experience with it.
I think it’s a bit of both. I think some brands are less sophisticated. They know that they are supposed to be working with influencers, because everyone is, but they’re not quite sure how to do it. So they just take the big, broad approach. I think other brands know that they’re supposed to do it and it’s harder and it takes more time, so they think, we’ll just skip that part and go with a bunch of influencers, who are either big, so they think they’ll get a lot of return on investment. Or they’ll go with influencers they haven’t fully vetted because, again, it takes a while to vet them. Alternatively, they’ll go with an agency who, again, doesn’t fully vet or just goes with whoever signs up with them.
This document may not be reproduced, distributed, or transmitted in any form or by any means including resale of any part, unauthorised distribution to a third party or other electronic methods, without the prior written permission of IP 1 Ltd.
IP 1 Ltd, trading as In Practise (herein referred to as "IP") is a company registered in England and Wales and is not a registered investment advisor or broker-dealer, and is not licensed nor qualified to provide investment advice.
In Practise reserves all copyright, intellectual and other property rights in the Content. The information published in this transcript (“Content”) is for information purposes only and should not be used as the sole basis for making any investment decision. Information provided by IP is to be used as an educational tool and nothing in this Content shall be construed as an offer, recommendation or solicitation regarding any financial product, service or management of investments or securities.
© 2024 IP 1 Ltd. All rights reserved.