July 7, 2022: There are brighter days ahead.
In this edition:
- Brands respond to Supreme Court ruling with employee benefits
- Recession prep forces brands to reevaluate advertising spend
- A new rate calculator helps creators pursue fair pay
In Regards To Roe v. Wade
Brands and influencers alike respond to the overturning of Roe v. Wade.
Brands Protect Employees
What do P&G, Target, Kroger, and more have in common? They all are incorporating employee benefits that cover travel for abortions. In addition, OkCupid has made efforts to realign its marketing strategy in a show of pro-choice support. The dating site plans to donate ad space in states more likely to criminalize abortion. In addition, it has swapped its ads in favor of Planned Parenthood messaging. It also encouraged users to participate in a virtual walkout in protest of the ruling after it was announced. These brands aside, others are at a loss and have halted ad spending while they refocus.
Meta Under Fire
On the other end of the spectrum, Meta is under fire for attempting to limit its employees’ open discussions of the Supreme Court decisions, citing a policy censoring sensitive conversation in the workplace. This comes after it was discovered that Facebook had been allegedly removing educational posts about abortion pills and banning users. While Facebook is working to correct errors, Meta has received a lot of backlash from critics for its combined issues and actions during this time.
Brands being cautious is a typical occurrence when it comes to hot-button social issues, but some influencers may take this as a cue to avoid working with them – and it could affect consumers’ purchasing choices as well. Gen Z consumers, who make up 40% of all global consumers, are more likely to support brands and influencers that match their viewpoints. Despite differing opinions on what is expected of brands in light of this issue, a lack of response – or an insensitive one – could impact future shopping habits.
Influencer Marketing Takes On The Recession
As brands brace for a recession, budgets may realign to put a larger focus on digital spending – and influencer marketing could go either way.
A New Priority
With a looming recession forcing marketers to reassess their budgets and priorities, reporting and measurement tools are getting prioritized. Some brands are cutting back on their spending by a noticeable amount to combat inflation, while others in industries like e-sports are ramping up spending instead.
Creators Can Help
Influencer marketing is on the chopping block for some companies that are trying to reduce spending – but is this the right move? It’s no secret that content creators have had a big impact on digital marketing over the past several years. The proof is in the metaphorical pudding – utilizing influencers is a must-have strategy to get the most out of marketing budgets.
Convincing brand leadership to take a chance on influencer marketing can be a tough sell. Now with a recession on the horizon, strategic moves to maximize those marketing dollars are more important now than ever before. We believe influencer marketing is the key to success in an increasingly digital world. Here’s how to get your boss to invest.
Hashtag Pay Me
Eyes are yet again on influencer compensation as new tools help creators gauge their worth.
Calculate Your Rate
The rate calculator, Hashtag Pay Me, is a new tool that influencers can use to rate brands and understand what to charge. This comes alongside apps like F*** You Pay Me and Clara, which help creators connect and communicate about fair pay. Brand reputation is also a topic of discussion related to this ever-important issue. Don’t be surprised if you see an increasing number of queer creators talking about QuickBooks, which is making a point to partner with more LGBTQPIA+ individuals for future campaigns.
International trends frequently make their way into the United States. This is why we’re keeping an eye on India, which has recently imposed a new tax on the free products that creators receive from brands. China also now requires that creators who speak on topics related to law, finance, medicine, and more must receive prior approval as an “expert.”
Influencer pay is always going to be a highly debated topic as brands try to stay within certain budgets while influencers make a case for their valuable and highly adaptable talents and skills. We’re curious to see how international policy will impact the influencer marketing industry worldwide and in the United States. Could we see future laws that tax creators and brands, or censorship around content that is not delivered by a certified expert? Only time will tell.