The Week in Social #316

We spend the week reading the best things we can get our eyeballs on and on Fridays we share them here with you as The Week in Social. 

Read anything good that we missed? Share it with us on Twitter or give us your thoughts at @UnionMetrics.

On influencer marketing

Have we reached peak influencer? Maybe. It seems that Memes Are the New Influencers according to Alizah Farooqi for L2. What’s the deal?

“Influencers aren’t what they used to be—especially when compared to meme accounts, which ‘get such a good return on investment compared to influencers, who no longer get the same results,’ according to Lauren Smeets, a talent strategist at Cult LDN. Still, though meme accounts may seem promising, there’s no guarantee that they will play out exactly as brands hope. In fact, vodka brand Smirnoff saw lower engagement on Instagram when trying out meme advertising, prompting them to shift to more people-first imagery and less ‘posed’ shots with text, resulting in an improved engagement rate. Additionally, the strategy does not come without risks of its own. For example, most meme accounts are only just beginning to become aware of their value, and are taking new precautions such as making their accounts private in an effort to fend off copycat accounts—a dilemma that influencers rarely face.”

We’ll see how that evolves.

For brands who are still working with human influencers and not memes, Marketers Around the World Are Banking on Microinfluencers according to Jasmine Enberg for eMarketer.

Why? Microinfluencers feel more like a regular person to consumers, so brands are looking at microinfluencers with highly engaged followings.

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To back that up, dig into Organic reach for Facebook influencer content drops 23%, analysis finds from Erica Sweeney for Marketing Dive. It was the influencers with the biggest followings who had the biggest drops in reach, so microinfluencers are still a brand’s best bet in getting the most bang for their buck in influencer marketing. (This piece didn’t discuss if they were using the official Facebook influencer marketing posts, however, which might make a big difference in reach.)

What else is changing in influencer marketing? Influencers shun existing brands to launch their own, as Patricio Robles writes for Econsultancy’s blog. He notes that as influencers prove to capable brand builders, brands might need to make some adjustments, including “launching investment funds and even incubators to help them launch those brands”.

On everything else

Want to get into the nitty-gritty of the state of storytelling? Check out The Case for Creative Storytelling from Mike Connell for Spin Sucks.

And if you need a little inspiration for your brand’s Instagram Stories, check out 3 Food Brands Nailing Instagram Stories from Cole Brennan for Likeable Media’s blog.

The latest platform updates

Every week we keep an eye on what’s new across social platforms and share the most relevant and interesting updates here.

This week:

Thank you for reading and have a great weekend!

Image source: The Found Animals Foundation