Influencers; The Commodity of Tomorrow
Influencer marketing is not scalable in its current form because influencers are yet to be handled like the valuable commodity they are. Fisherman, Farmers, Ranchers and manufacturers all know exactly what they are selling and provide detailed inspection of their goods prior to the purchase. This is how value is determined and easily traded.
However, Influencers have no idea what they are selling and cannot provide anything for inspection. Influencer marketing is not about the influencer, it is about their following. Its really 'Follower marketing' and Posse is correcting the direction of value of the the entire Influencer environment so the Influencer 'commodity' can be inspected and properly valued.
Posse is a platform that places actual Facebook/Instagram ads against influencer followers to determine consumer characteristics and behaviors specific to that audience. Posse then divides these audiences into behaviors for brands to carefully select from. By using an audience that is specific to a brand category, advertisers can achieve a higher conversion rate with a substantially lower cost base.
How does this differ from todays Influencer marketing techniques? Today, an influencer gathers followers for any number or reasons. However, brands assume the following is directly related to the Influencers content, which is rarely the case. The brand also often assumes the Influencer is a good salesperson and capable of swaying their followers to the brands goods. Also, a rare occurrence. Finally, brands sometimes assume they can reach a large percentage of the Influencers following by incentivizing the influencer to post about the brand. This is the greatest of all the brand errors as Facebook/Instagram restrict the reach of any Influencer to roughly 2-5% of their following. Yes, you read that right. An Influencer can only reach a maximum of 5% of their following through any post. Facebook says it benefits the Influencer more to reach new people with their post instead of the same people each post.
To put this all into perspective, todays Influencer marketing is no different than it was 100 years ago when cigarette companies put a cigarette in an actors hand and assumed everyone who saw him would buy their cigarettes. Brands are making wild assumptions about individuals influence without any quantifiable data. Posse changes all of this.
By providing specific behavior based digital audiences to brands and advertisers, Influencers become the manufacturers of highly sought after groups of consumers, perfectly packaged for each brand to inspect and use. Influencers no longer need to 'sell' or endorse, unless the brand requests such activity and the brand no longer has to worry about the Influencers ability to sell. The Influencer simply collects followers, who are subdivided by the Influencers own posts and then packaged for each specific brand.
How does it all come together? Brand A logs into Posse, selects their product's category (Sportswear) then a giant list of digital audiences appear within 'Sportswear'. The brand can filter this selection of audiences by things like; how many people are in the audience, how many brands have used this audience or are using it (aka demand) or who the Influencer is, etc . Once the audience or audiences are selected they can be instantly be moved into the brands Facebook Business Manager and ads can be running against these new Influencer audiences within minutes. As success occurs within the campaign, the brand can either continue using the audience or select additional audiences from the same or different Influencers and additionally request an endorsement deal from the Influencer if the conversion levels are high enough.
This process turns the Influencer into a valuable and scalable commodity for the advertiser/brand.