Today there are millions of influencers and bloggers. And the sheer overwhelm of these influencers is what is killing the influencer industry.
There are too many influencers.
There is too much competition.
And the worst part is brands are becoming overwhelmed with their choices.
And that my friends is killing the influencer industry.
Because if there are too many people offering too much of the same thing, there is information and audience overwhelm. And when there is overwhelm, there is literally a very slim chance of being picked for influencer collaborations.
Here is what is going to happen when the competition becomes too much
Brands will no longer pay influencers for the work that they spent hours creating. Brands will start to pay influencers very little simply because too many influencers accept very little.
Think of it this way: let’s pretend I own a furniture company. I have my pick of influencers. There are hundreds of them out there who will accept my free product in exchange for a post.
Why should I pay anyone? They’ll take it for free.
And they will take it for free because they’re afraid of the competition. Because there are so many bloggers out there, most bloggers will accept free product for payment. And that means bloggers like you and me won’t get paid their worth because another blogger will take the product for free from these specific brands.
This happens when there is competition in any space. At the end of the day the brand doesn’t want to spend anymore money that they don’t need to.
So what can we do about this?
Firstly, we need to charge our worth. As bloggers we are helping brands sell their product in a totally new and innovative way. We need to be respected for our work.
Secondly, brands need to vet influencers more thoroughly. Brands need to really look at who is serious about blogging and who is just using their platform to get free things. Brands need to look at statistics, followers, and growth more closely. Tons of influencers have fake followers or use engagement pods to create the illusion of influence. When a brand decides to enter a campaign with such influencers, they’re really not gaining anything.
Thirdly, brands need to pay influencers. Influencers, just like editorial magazines, require payment for the reach the brand lacks. You wouldn’t expect to pay Vogue magazine in just items.
So why should influencers be paid with products only?
Essentially bloggers are online magazines. And they need to be treated as serious investors in the marketing and advertising industry.
Bloggers are not going anywhere. But when there are too many bloggers who are just gaining the system in an unprofessional manner, the circle will be undone. And the industry will crack. Sooner or later there will be a bubble burst. And influencers won’t matter as much simply because there are too many of them.
Everyone and their mother wants to be a blogger. But the ones who will really stand out are the ones that are in it for the long run.
I know you reader and I know you are serious about blogging. So take my advice, be unique. Be different than other blockers. Charge your worst. And never give up.
The industry bubbles will crack. To stay on top of it, own your platforms, and find multiple sources of income from your blog. I don’t want you to not make it. My best advice for you is to keep going, educate brands that you work with, and take yourself seriously because no one else will.
Ready to start chatting brands and get serious about monetizing your influencer? Download this free gift: a rate calculator to find out what you should charge brands, today!