Wow, what a great week to start off our week in review series. A LOT has gone on this past week in the realm of social media. Starting off the week with Girlboss announcing their version of Linkedin, all the way to an exciting influencer marketing conference.
On Tuesday, Girlboss announced their newest tech adventure, a social network that functions as if Linkedin and Instagram morphed into one platform. Professionals from all different backgrounds sign up to create a profile and chat with other like-minded people.
Sofia Amoruso (the brain behind Nasty Gal & Girlboss) is outspoken on the equality of women, so it comes as no surprise that she came up with this idea. Anyone from marketing professionals to freelancers is welcome to join and start a conversation.
The current value of influencer marketing platforms is set at 5.5 billion USD. Can it really get bigger than that? Yes, it can. Recent stats show that by the year 2024, the industry for influencer marketing platforms will reach 22.3 billion USD. With those numbers, that’s more than 4 times the current value of the market.
How is this happening? In 2019, the United States is #1 in influencer marketing platforms but by 2024 we will be quickly kicked off the number 1 slot. The Asia-Pacific region’s population is expanding at a very fast pace. A bigger population means a larger number of people connected to social media and the internet. The more people you have connected, the larger the market is going to be.
What does this all mean to us right now? It means there is room for growth and for new, more innovative platforms to come in. Maybe a little like Girlboss?
Influencers Have the Strictest Branded Content Rules Out of All Forms of Media
Instagram has been on a roll with deleting users posts for various reason. The biggest uproar on social media lately is about branded content. Most of it is coming from influencers who are putting Instagram on the spot for deleting their posts for not being advertised as branded content correctly.
The Fashion Law brings a new perspective on this issue. When you’re watching a show, all you have to do is see a product name to know they sponsor the show. You notice this a lot when you watch the Food Network because they never show the brand names, except for when they give money to the show.
I decided to read up on what constitutes branded content and how Instagram wants it to be shown. There are about 10 subheadings of information for you to read if you’re a business account and most of those have links to separate pages of information.
What did I learn from reading it? Label everything! Over label, if you have to. Missing one placement of “paid partnership” could cost you your content, not to mention your income.
The Holy Trinity Crash
Wednesday . . . was a day, to say the least. At first, I thought it was just my account. The rest of the team let me know they were also having issues with Instagram. Instagram was just the start, Facebook and What’s App were all down for the count. What in the hell caused this?
Someone spoke on behalf of all three platforms stating that routine maintenance is what triggered a bug to dismantle the social networks. The outage lasted half the day and caused users to take to their Twitter accounts. There was no shortage of memes about the inconvenience there. Luckily everything is back on track now and functioning beautifully. (I was getting a little worried there.)
The influencer marketing event of the year is here. If you don’t know, IMCX is an influencer marketing event held in Los Angeles, California that features live speakers, top influencers and a space to rub elbows with some clever and cool industry professionals.
There are more than 350 influencers, (including my fav Denzel Dion) and 65 speakers in attendance. The conference will be held from July 9th to the 11th, with topics ranging from fake followers to the micro-influencer community. We’ll be keeping a close eye as the conference unfolds. The question is, will you be?
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Read our other social media news, here.