A Discussion With: #paid's VP, Marketing Richard Wong
4 minute read
- #paid is an online platform that connects brands and social media influencers for the purpose of collaborating on marketing campaigns
- Features like Facebook Live and Instagram stories are creating opportunities to evolve the way influencers engage with their following
- While #paid counsels its influencer community to limit the frequency with which they publish sponsored posts, they believe that followers are open to brand integration from influencers whom they see as admired peers (as long as the collaborations are executed in a way that is authentic to the influencer’s brand)
As part of our Industry Spotlight feature, MKTG sits down with sponsorship professionals from all sides of the business to hear their stories and insights on emerging trends and best practices. This week, MKTG met with Richard Wong, the Vice-President of Marketing at #paid.
#paid (pronounced, “hashtag paid”) is an online platform that connects brands and social media influencers for collaboration on marketing campaigns, either in the form of content created specifically for the brand to use or through sponsored content that influencers post on their own social media channels. #Paid’s roster of 12,000 social media influencers offer their quickly growing client list consisting of brands like Anheuser-Busch, PepsiCo, Sephora, Audi and Chevrolet a diverse menu of talent to help authenticate and amplify their brand story.
According to a 2017 study on the state of influencer marketing, 94% of marketers found influencer-based activity to be effective. As these investments shift from an emerging marketing tactic to a mainstream staple in the marketing mix, MKTG speaks to #paid about how their offering has evolved over time and upcoming trends they are seeing in the world of influencer marketing.
Here are Five Key Learnings from MKTG’s conversation with #paid:
Disclosure: #paid has a partnership with the Dentsu Aegis Network that provides agencies in the network with preferred access to its roster of influencers and first access to test any new tech the company develops.
#paid is part platform, part agency for Tier-1 brands
When brands work with more traditional celebrity endorsers, there are stakeholders who add discipline to the process, from agents to business managers. The world of influencer marketing is more of a “wild west”, Wong points out. The relatively early industry life cycle results in demand from clients for #paid to be more than a platform whose algorithm helps match them with influencers. #paid helps brands develop their influencer strategies, from initial education to post-campaign reporting. It is why Wong classifies their role as “part platform and part agency”.
#paid employs influencers directly to help recruit and grow its roster
A strong pipeline of social influencers on its roster is essential to #paid building a sustainable and inimitable competitive advantage. To attract influencers to its platform, they leverage a combination of “push” and “pull” tactics. Influencers with a following of 5,000 or more with a public profile can build a profile themselves on the platform. However, #paid also proactively nurtures its “creator community”, hosting meet-ups in various cities where they operate to build relationships with current and prospective influencers. A number of creators work for #paid directly as well, ensuring the company has a deep, in-house understanding of the key ingredients to being an effective social media influencer.
The evolution of social networks is creating new content collaboration opportunities for brands and influencers
Influencer marketing activity is highly associated with established social networks such as YouTube, Instagram, Facebook, and Twitter. Where there
Influencer marketing is expanding beyond typical categories of fitness, fashion, and beauty
Influencer marketing transcends brand category. While its roots emerged in certain core categories, #paid works with brands across all industries. Wong highlighted a recent collaboration that
#paid is leaning into disclosure with its roster of influencers
Both the FTC and Advertising Standards Canada have mandated that any bloggers, celebrities, or social media influencers who mention companies, products, or services in exchange for payment must disclose sponsored posts through hashtags like #ad, #partner or #sponsored. Even #paid is an acceptable disclosure for the FTC. The company embraces disclosure to the point that it influenced their naming. #paid is an advocate for transparency and as Wong states, the company does not view disclosure as an obstacle. While #paid counsels its influencer community to limit the frequency with which they publish sponsored posts, they believe that followers are open to brand integration from influencers whom they see as admired peers. Most importantly, Wong adds, is that “well-executed campaigns start with finding the right influencers who believe in your brand, products, and services. When they create content they love and believe in, brands are integrated well, and it resonates with their audience to a greater degree.”