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Influencer rates on the rise.
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Morning Brew June 09, 2022

Marketing Brew

Paramount Advertising

Congratulations on making it to Thursday. If you’ve ever thought to yourself, “I wish my nails smelled like cheese,” then you’re in luck: Velveeta has a new product out as part of its “La Dolce Velveeta” campaign.

In today’s edition:

—Phoebe Bain, Alyssa Meyers

SOCIAL MEDIA

“This is your sign to charge more”—influencers to, well, influencers

money coming out of a phone Francis Scialabba

“Know your worth, queen!” “This is your sign to charge more.” “Creators, your creativity and time are worth more.” These are just some of the statements influencers have been posting on TikTok lately, encouraging their peers to charge more for sponsored content. Why? Because, as L’Oréal once said, “You’re worth it.”

  • Many influencer marketers told Marketing Brew that they’ve seen this type of content on TikTok, too. They’ve also seen influencer rates go up significantly over the past year.

Stat: An influencer agency called The Motherhood saw influencer rates rise by 44% from 2020 to 2021 and 45% from 2021 to 2022 thus far, on average, according to an internal analysis. The agency also told us that this increase is happening across several platforms, like Instagram, TikTok, and Facebook.

Big picture: Nine influencer marketers told us that since 2020, influencer rates have been on the rise. That’s not only due to increased pay transparency among influencers themselves, but also because of increased demand for influencer marketing. As a result, several said that brands are trying to find ways to mitigate the impact.

Why it’s happening

Annelise Campbell, CEO and founder of influencer marketing agency Campbell Francis Group, told us she’s seen “influencer rates rising quite significantly,” especially between Q4 of 2021 and the start of this year. She attributes this increase, in part, to rate transparency.

There’s been “an explosion of transparency” and education for creators around what they should be charging for their services, which is driving up prices, according to James Nord, the founder of Fohr, an influencer marketing service. Nord told us that Fohr is an investor in FYPM, one of the companies pushing for rate transparency by allowing influencers to anonymously share deets about their brand deals on its platform.

  • But that transparency can be a double-edged sword, according to Campbell, who told us she’s seen some influencers go into brand deals without concrete reasons to explain how they’re setting their rates for their content.
  • “There’s a lot of conversation right now on TikTok on Instagram about ‘charge your worth.’ Nobody knows what that [phrase] means,” Campbell told us. “It’s quite obscure, and that can lead to just general price gouging.”

It’s not just influencer culture that’s causing these increases: Nord also told us there’s been an “enormous spike” in demand for influencers over the past few years, driven by everything from lockdowns and increased attention to social media to things like iOS changes that have made advertising on platforms like Facebook more difficult.

“Increased education and focus for influencers on what fair market value is, coupled with that demand, has driven those prices up,” he explained.

Read how brands are responding to higher rates here.—PB

        

TOGETHER WITH PARAMOUNT ADVERTISING

Your brand beside today’s hottest streaming hits

Paramount Advertising

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It’s safe to say that Paramount is crushin’ it.

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Wanna position your brand with this powerful streaming portfolio’s diverse, premium content? Paramount has the scale, know-how, and content to drive effective partnerships, helping advertisers cut through the noise to engage directly with their target audiences.

Team up with Paramount Advertising here.

REPORT

Sonic branding, ranked

a microphone on a blue background Oana Gherghe/500px/Getty Images

It’s no secret that brands are paying more attention to their audio strategies. But which are doing it best?

For its fourth Best Audio Brands report, sonic branding agency amp partnered with four tech companies to answer that question and more by analyzing the use of sound and music in the branding of 250 companies.

And the winner is… Mastercard. Shell, Audi, Apple, and Phillips rounded out the top five, followed by PlayStation, Nintendo, Mercedes, State Farm, and HDFC Bank to make up the top 10.

  • Mastercard, an amp client that’s widely known for its sonic branding efforts, has held the top spot on the list for the past three years, according to Bjorn Thorleifsson, amp’s head of strategy and research.
  • That’s in part thanks to its sonic logo, Thorleifsson said, which debuted in 2019. Of the top 25, 19 brands had a sonic logo and had used it in the past year.
  • “Brands have the need to be recognizable in screenless systems much more than two years ago, three years ago, and the sonic logo is the very first step they think to do,” Michele Arnese, amp’s founder and global CEO, told Marketing Brew.

Notable categories: It’s no coincidence that tech brands like Apple, Samsung, Amazon, and Google all ranked within the top 25, Arnese said. They all have recognizable brand voices in the form of their voice assistants.

“The tech brands are using voice sometimes more than other brands, and considering sonic as a really 360-degree expression of the brand,” Arnese explained.

Auto brands also dominated the rankings. They have a “long tradition” of using sonic logos and jingles, Thorleifsson said.

  • That tradition dates back to the 90s, Arnese said, when a lot of car brands transitioned to focus more on their overall branding as opposed to promoting individual models, and decided to “add the sound to differentiate the brand even more” from the crowded sector.
  • Ford started adding the slogan “Built Ford Tough” to its ads dating back to around the 80s, while Chevrolet first used the Bob Seger song “Like a Rock” in a spot from 1991.

Read the full story here.—AM

        

WHAT ELSE IS BREWING

  • CEOs from more than 220 companies, including Levi Strauss & Co., Dick’s Sporting Goods, and Unilever, will release a letter today calling on the Senate to take action against gun violence, Axios reports.
  • Publicis’s Zenith downgraded its global ad-spending prediction for 2022 as a result of the war in Ukraine.
  • Bud Light put its creative account up for review. Wieden+Kennedy, which previously held the account, declined to participate.
  • LinkedIn is leaning further into audio with the official debut of its audio events tool, which lets users host conversations on the platform, Clubhouse-style.

TOGETHER WITH PODSIGHTS

Podsights

Power of the pod: A recent report from Podsights, a leader in podcast measurement and attribution, shows that brands see higher conversion rates when investing in dynamically inserted ads vs. embedded ads. Pre-roll ads also outperform mid-roll ads, but higher frequency = lower conversion rates. Get more key deets in Podsights’s free Podcast Advertising Benchmark Report here.

FRENCH PRESS

French press Francis Scialabba

There are a lot of bad marketing tips out there. These aren’t those.

Snap out of it: Up your Snapchat game with this guide on how to advertise effectively on the platform.

Like and follow: Tips for small businesses to grow their followings on TikTok.

Overwhelmed? Try this “creative exercise” to make sense of your never-ending to-do list.

Know what makes them click: Website conversion rates increased by a whopping 27% from 2020. Get your copy of Contentsquare’s 2022 Digital Experience Benchmark Report for 100 digital insights from more than 46B global user sessions. See how your website stacks up.*

*This is sponsored advertising content.

JOB BOARD

Are you one of the 83% of Marketing Brew readers planning to make a career change this year? Be sure to check out our Marketing Brew Job Board for 300+ new job openings!

Today’s featured openings:

See more jobs or post your job opportunities here.

MARKET RESEARCH

Brands have struggled to maintain quality customer experiences in the past year, according to Forrester’s US Customer Experience 2022 report.

Drop it: Forrester analyzed 221 brands across 13 industries and found that, after making gains in 2021, the quality of customer experiences overall has “fallen back to early-2020 levels,” wrote Pete Jacques, principal analyst at Forrester.

  • That’s driven by the fact that more individual brand scores decreased than increased, with 40 brands’ scores dropping significantly, and only 21 increasing significantly.

Good investment: The investment industry was the only one to improve its overall average CX Index score through 2021, “buoyed by strong market performance,” according to Jacques.

On the other hand, industries like airlines and hotels saw their average scores decrease as they “were challenged by external factors,” like the pandemic.

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Written by Phoebe Bain and Alyssa Meyers

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