Why YouTube has closed its self-service marketing platform for influencers.
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The opinions expressed by the entrepreneur's contributors are their own.
It would be great if working with influencers was like hiring someone at Fiverr. Give them the money, they do their magic and voila – campaign success!
But as Warren Buffett said, "You can't give birth to a baby in a month if you get nine women pregnant."
It is difficult to learn. One that YouTube learned for itself. The company is closed three years after the acquisition of Famebit, the self-service marketing platform for influencers. This platform allowed brands to submit campaign opportunities for just $ 100. Influencers would choose campaigns and brands would choose the ones they liked
The dream was to automate the influencer marketing process.
Why did this dream die?
YouTube alludes to the answer in its graduation announcement. They "learned a lot about how creators and brands can work together to produce amazing branded content." That means, "Branded content only works if it is authentic and appealing to the viewer."
If they say that their non-automated full-service department has had the strongest results, what does this mean for the self-service side? Reading between the lines means that self-service led to spurious partnerships and poor results.
Automation does not fit into every situation, especially when dealing with people.
If your internet is down, you just want someone to come and fix it. If you're forced to process an automated message for 20 minutes to get you to reply, it's annoying.
If you are calling for billing, press 1.
Do you speak Spanish….
If your internet is down, press 9.
The process technically gives you an answer, but the experience is terrible. If you could only talk to one person, you would be much happier.
In the case of YouTube, they found closing self-service more beneficial than exposing more brands and developers to bad experiences. In essence, they'd rather have real people pick up the phone than customers to deal with automated messaging and be upset.
Related: How to Create a YouTube Channel in 3 Easy Steps
YouTube has every incentive to keep Famebit's self-service going
They NEED creators who make money to make more content. More content means more eyeballs. Eyeballs attract advertisers. Advertisers spend the money.
Eyeballs + brands = advertising-based business
Related topics: How to use YouTube's performance
Google, owned by YouTube, is one of the most profitable companies in the world. Last year, they reported sales of $ 161.9 billion. YouTube alone contributed $ 15 billion to this.
They have the best engineers and marketers in the world. Why couldn't they make it work?
Influencer marketing is a creative venture
I wrote in the past that there is so much missing when working with these marketplaces. No party speaks to each other directly. They don't build on each other's ideas. They do not decipher the intricacies of the brand.
If you want to use a self-service platform for your own advertising, we recommend that you ask yourself a few questions.
Related: How You Can Actually Make Money With YouTube
If Google couldn't get automated influencer marketing up and running, can anyone? Do you have more resources and knowledge than Google? Why should you be the exception?
You probably are not.
Google's famebit experiment showed that well-done influencer marketing requires a human touch. This is more expensive and labor intensive, but there are no shortcuts.
Influencer marketing, like most things, takes time and effort to do well.