Will the Influencer Market Collapse?

According to an article published by Forbes Agency Council (2017), they predicted that the influencer market is going to collapse in 2018.  In recent years, brands spent millions of dollars to promote their products with social media influencers on various platforms (e.g, YouTube, Vine, Instagram, Facebook, Twitter). But after their large alternative marketing spends, are they seeing a big enough ROI to continue? Influencers are considered middle-tier influencers in the sales and strategy funnel that drive consumer awareness, but is that enough for brands to continue to spend money in this segment?

Here is my position:

I do think companies have to continue to integrate the influencer market in their strategic business plans because the influencer market is not going away. The caveat about being an influencer is authenticity. The moment their followers feel like they are being a sellout, their reputation can instantly become tarnished or worst of all – collapse. The influencer market has become increasingly saturated as YouTube stars like Michelle Phan or Jenna Marble had their rise to fame.  Michelle Phan is a beauty vlogger and is considered a top YouTube influencer as she has 9 million subscribers and more than 681 million views.  Jenna Marbles is a top YouTube influencer as her videos have been viewed more than two billion times and she has over 17 million followers. Influencers like Michelle and Jenna have a platform to ignite conversations, persuade consumers, and ultimately influence consumers to buy the product/service.  In other words, they have a plethora of social capital that brands should not overlook.

For someone who wants their start in the influencer market, they need to find their niche. Don’t do something that someone else has already done. Based on my personal experiences with colleagues, family, and friends; so many people who have a camera capable of recording in 1080p and a set of make-up brushes think they are going to be a YouTube star if they upload a video of them putting on their make-up.  Find a niche category like a channel dedicated to self-help or DIY and the ideas for the videos should be bold and different!

What are your thoughts? Do you think the influencer market will collapse? If so, what do you think the future will look like for the influencer market? Your comments are welcomed and encouraged!

Best,

Jason

Reference

Forbes Agency Council. (2017). How digital marketing will change in 2018: 15 top trends. Retrieved from

https://www.forbes.com/sites/forbesagencycouncil/2017/12/18/howdigital-

marketing-will-change-in-2018-15-top-trends/#4c1e84cb2d9a