Google's Acquisition Of FameBit Influencer Platform Explained
Google always seems to be one step ahead of the game, catching on to trends as quickly as the company sets them. Google recently announced that it had acquired FameBit aka "an influencer marketing platform for branded content." There is a massive rise of companies like FameBit being marketed right now as the 'solution' for brands and their agencies to be able to get connected with social digital influencers for branded content and endorsement partnerships.
Companies are trying to build databases by the droves to help connect the dots. Having access to a list of names is great, but what is still missing that brands need to keep in mind is the strategy behind the partnership. In this blog, Hollywood Branded breaks down Google's new FameBit and how brands and their agencies need to safeguard themselves as social influencer sales platforms emerge.
What Is FameBit?
Okay, we know that the phrase "influencer marketing platform for branded content" is a bit vague, so let's break it down.
A big portion of an influencer's income is from brand partnerships ranging from endorsements to reviews to original branded content. Google's acquisition of FameBit looks to bridge these creators to the brands that would work well with them.
On the platform, once an influencer reaches "x" amount of followers, they can apply to work with brands via FameBit. As a brand marketer, this will connect the brand directly with verified digital influencers looking for brands to promote.
YouTube, as a subsidiary of Google, will also more than likely incorporate FameBit directly into their platform, streamlining the process.
What This Means For Brands
For brands, this may make influencers more accessible to brands and will also help to safeguard the brand's investment in a particular known and verified digital influencer. Or at least, the brand will now be better connected to teh influencer's agent(s) who will be negotiating the deal.
Google has recognized the obvious by making this purchase - that marketing works far better for brands if they are incorporated directly into content rather than just as ads.
FameBit states they will help keep brands clear of FTC violations, which have been an issue for brands and YouTubers in the past, by creating clear endorsement rules and options.
Smosh And Sun Drop - A Branded Content Success Story
During their "Surprisingly Good" campaign, soda company Sun Drop partnered with top YouTube channel Smosh to create a video comparing things that are just good and things that are "surprisingly good."
The video, which featured a Sun Drop can product placement exposure, racked up over 13 million views on YouTube.
The branding in the video is subtle enough to not be overpowering, yet most certainly is there. And the video's theme reinforced the brand's campaign slogan... to over 13 million people. Check it out below:
Check out our countdown of the top 10 YouTube influencers.
So What's The Deal With These Platforms!
We truly do believe that there is no better time than the present for your brand to get involved with digital influencer. But the connection platforms aren't the end-all-be-all solutions touted.
A solid strategy needs to be build, and brands need to come to the table with a plan - not thinking that the influencer will build it for them. As is true with all celebrity partnerships - what is initially discussed is what will be in the contract - there are no 'freebies' and add-ons in hindsight cost real dollars.
Our agency continuiously reviews the various platforms that are emerging to solve the connection problem, and it's important for brands to understand that these influencers don't work just through one platform. They or their agents are signing them up across numerous platforms - as well as working directly through their talent agencies. Which can also drive up the price, as the more parties are involved, the more cuts of commission are taken out.
How Can Your Brand Get Involved?
Are you interested in learning more on how your brand can work with social media influencers? Download our infographic that provides case studies, rates and strategies for success when creating a social media influencer program.