There has been an huge increase in influencer marketing over the last couple of months. Marketers realized that combining their products with someone popular, especially over social media platforms such as YouTube or Instagram, can be more effective in increasing profit and publicity than directly targeting traditional advertisement to a whole group of people. This is the result of more and more people getting bored of and disliking normal ads. I mean who would not want to use the product which is also used by famous YouTube stars use? This product cannot be bad, right? Marketers finally realized that working together with influencers has a powerful effect on the perception of their brand and maybe even the company’s reputation. But connecting with these influencers can sometimes be difficult – especially for small companies. How is it possible for them to connect with influencers who have a really big crowd of followers and convince them of their product? This is where FameBit enters the stage.
FameBit, which was founded in 2013, is an online marketplace and enables brands and YouTube influencers to connect and form business deals or sponsorships. Brands can post an offer on this platform and if it is of interest for a YouTube star, he or she can apply for a partnership with the brand. If the brand approves the YouTuber’s offer, the YouTuber is getting informed and can then directly get into contact with the brand and form the deal. Afterwards, the YouTuber has to film a video, upload it onto the workroom and wait for the brand’s go. Once happened, the video gets uploaded to the influencer’s YouTube channel and within the next two to three days the influencer receives his or her payment from FameBit.
And does it work? FameBit states that over 47,000 creators are registered and reach around 3.6 billion people. Furthermore, the platform has expanded its reach to Instagram, Facebook, Twitter, Tumblr, and Vine. Altogether brands received over 416 billion views and 1.5 billion minutes of watch through the content which has been created through FameBit . If you want to achieve the same through traditional advertising one would have to spend enormous amounts of money. FameBit works together with well-known brands such as Canon, Adidas, or Sony… and its success and influence continues to grow. Just two weeks ago, FameBit announced that Google purchased the platform. What are the consequences of this acquisition for influencer marketing? This action emphasizes the immense growth and importance of influencer marketing, which I already mentioned at the beginning of this post. However, it also underlines that many companies plan to use influencer marketing as one of their new key strategies to promote their products and services to potential customers – and actually be able to reach millions of people on different social media channels. Especially Google profits from this deal. Due to the expansion of FameBit to different social media channels including Instagram and Facebook, Google will be able to access important and complex information on this competitive industry. The combination of Google’s business relationships, the knowledge, expertise, and exchange through FameBit, and YouTube’s vast community of creators, branded videos and influencer marketing will continue to grow and grow unpredictably.