Influencer Marketing Is The Buzz at Social Media Week With Nearly 25% of All Sessions Focused On This.
Social Media Week NYC is in full swing and thousands of people are flocking to the Times Square for the multi-city, annual event. Marketers, brand executives, and startup ventures are all assembling for the event to gather insights on the now, new and next in the social media marketing community. Among the plethora of speakers that range from Diageo CMO James Thomson to Rev Run of Run DMC, Lippe Taylor President Paul Dyer will be taking center stage with a presentation that hints at caution.
Dyer is at the Social Media Week (SMW) to discuss the keys to effectively thrive within constantly evolving networks of Influencers. He will also offer several specific approaches that brand marketers should adopt to future-proof their Influencer Marketing approach.
Dyer warns that influencer marketing grew at a rapid pace and is constantly developing in the ecosystem, but the growth is in a bubble that will soon burst.
“We’ve seen this before with the rise and fall of Mommy Bloggers. Monetizing influence is a very delicate dance, and brands need to manage their approach precisely,” Dyer says.
What makes Influencer Marketing Precarious?
Influencer Marketing particularly permeated into the urban lifestyle by practicing drawbacks inclusive of fake followers, poor measurement, attribution and Instagram pods. Particularly noticeable is the saturation of professional influencers who stray away from their original authentic practices. This leads to losing their original status which made them influential in the first place.
“There is tremendous value in Influencer Marketing. However, many current practices are only speeding us to the precipice where the bottom falls out,” Dyer reassures.
The Future of Influencer Marketing?
Despite the melancholy which comes with tech-related bubbles bursting, Dyer is highly optimistic about future goals of Influencer Marketing. Dyer has doubled down on the agency’s Influencer Marketing practice with significant investment in talent and technology, spearheaded by Refinery29 alum, Lauren McGrath. The agency’s StarlingAI™ platform, a proprietary analytics platform, offers the kind of advanced data sciences and performance metrics that secure brands from the same snares Dyer warns about.
At SMW, Lippe Taylor also launched its State of Influencers Survey; an exceptional summary of the most informative results from a recent polling. The polling includes over 500 vetted and established influencers, created in synergy with influencer platform, Julius. The survey plunges into key details of influencer brand relations. It sheds light on the widespread importance of paid followers, expected methods of payment and best practices involved when working with influencers.