Is it still possible to make it big as an influencer?
The concept of the influencer didn't exist a decade ago, but now it's a viable career path, as influencer marketing is expected to be worth $10 billion by 2020. While anyone with an Instagram account and a closet, a cosmetics case, a global travel itinerary, and/or a voice worth following can theoretically become an influencer, is it still possible to make it big?
So what, exactly, makes a mega-influencer? That depends who you ask, says Alyssa Coscarelli, a former market editor at Refinery29 who recently left the publication to pursue her growing influencer career. "Different brands have their own tier one, two and three influencers," she explains.
In addition, she believes it's still possible to become a mega-influencer. "There is a place for authentic voices with a strong point of view and a reason for being," Licht says. Ultra-successful influencers like Charnas and Medine have succeeded in part because "they've really defined their brand DNA from the beginning," she notes.
Being as big as possible might not be the best path to influencer success nowadays: There's an appeal to quality over quantity, explains Hilary Williams, VP of Talent at Digital Brand Architects. "'Top tier' doesn't necessarily equate to having the most followers; today, it's more about how someone is tapping into their community and creating content and conversations that are engaging and impactful," she says.
Coscarelli has found that brands are equally receptive and interested in working with her as an influencer, versus her as an editor at a publication. "I'm fortunate to be going through all of this at a time when brands are starting to shift to influencer marketing; I think some brands still have some catching up to do, but people are starting to wake up to the return on investment it can really give, versus print ads or traditional media.
As for when an influencer's clout and success warrants representation by an agency — perhaps signifying that they've blossomed into a full-fledged business entity, not just a popular-on-social-media individual — Coscarelli estimates it's around the 100K follower mark. "There comes a point when you're getting brands reaching out to you every single day, you're signing one to two contracts every single day, doing a lot of negotiation ...
Instagram Stories has also changed the influencer game, per Hennessy. "Instagram Stories is the best thing to happen to influencers who are allergic to YouTube," she explains.
Is total exhaustion from influencers altogether a possibility in the future? "I don't believe there will be any influencer fatigue because the way they are working with brands and interacting with their communities has been evolving to the current 'demand' and will continue to adjust to the market," Ziv predicts.
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