Influencer marketing is here to stay as Australia sets up dedicated Council
Influencer marketing has cemented its position as one of the most interesting themes in the sector at the moment, even in the same week as social media platforms discuss the removal of 'like' counts.
In Australia, the Audited Media Association (AMAA) formed AIMCo, a dedicated industry council focused on influencer marketing. It's a sign that despite concerns about influencer fraud and any preconceptions that marketing through popular social media figures might be a short-term trend, influencer marketing shows no signs of waning.
The council is focused on setting standards for best practice in a collaborative way, with values including transparency, accountability, adherence to standards of disclosure, and promoting positive outcomes. Names including Gleam Futures, MediaCom, Publicis Media, and Wavemaker make up the initial members contributing to the code of practice.
Josanne Ryan, AMAA CEO, said “It’s been great to see the enthusiasm and commitment the influencer marketing community has brought to this process. The move to collectively embrace industry best practice and embed this into their business model signals the maturing of influencer marketing."
In August, The Drum revealed just how far trust in influencer marketing has come - with news that 75% of Estée Lauder's digital marketing budget is being diverted to influencer marketing, according to the brand's President and Chief Executive, Fabrizio Freda. "75% of our investment now is in digital social media influencers and they're revealing to be highly productive," he said at the fourth quarter earnings call in August.
At the same time, there has been a concerted effort in the industry to tackle the obscurity of influence - namely working out whether following counts are accurate or inflated through bought followers - as opposed to simply turning away from the strategy.
All of this comes ahead of Prolific London's next roundtable discussion on influencer marketing. Held in association with Smoking Gun PR, the event will take place at Accelerate Places on Hammersmith Broadway.
Representatives from leading brands are joining us to discuss the topic, sharing ideas and collaborating over a complimentary breakfast. Any brands interested in the event hoping to get involved and make their contribution are welcome to get in touch to discuss inclusion by emailing email@example.com.
Given that nearly two-thirds (61%) of people engage with an influencer's content every day, and that 78% say they trust the opinion of an influencer more than a traditional advert, it's clear that the channel is vital for marketers to keep in mind. Research also shows what an increased impact influencer marketing can have on people - ads from influencers were stated to be 277% more "emotionally intense" than traditional, according to Whalar.