Influencer marketing has come a long way. Big-name influencers are demanding big dollars, and if a recent ?confessions? article in Digiday is anything to go by, not everyone is happy about it.
From getting paid too much to being chosen simply based on the recommendation of the CEO?s child, it raised some interesting questions. And as influencer payments continue to grow, some are beginning to question the return on investment of influencer marketing in general.
So are we in some kind of influencer bubble" Are influencers really being paid too much"
Add some zeroes to that figure
?We threw too much money at them and did it too quickly.? Some people may be shocked to learn that influencers can be paid hundreds of thousands of dollars just to ?take some photos.? Brands are forking out serious cash to access influencers? audiences, who may otherwise be resistant to their advertising. And those payments have continued to rise each year as brands recognize the effectiveness of influencer marketing. In fact according to SocialPR Chat, marketers that implemented influencer marketing campaigns earned an average of $6.85 in media value for every $1 they spent on paid media. And 81 percent of marketers say influencer marketing is effective.
But as the price tag continues to climb, it becomes more and more important to justify the cost.
Metrics matter: The importance of demonstrating ROI
?We paid $300,000 for a few photographs because the CEO?s kid liked someone.? ?Too much...